Saturday, August 21, 2021

No perversity in order of CIT(A) amp; ITAT if they allowed exp. after considering remand report submitted by AO: HC

INCOME TAX : Where assessee-company claimed prior period expenditure made towards coal transport and surface transport charges paid to coal suppliers, since Commissioner (Appeals) and Tribunal after considering a remand report submitted by AO regarding said expenses and considering audited books of account of assessee allowed said expenses, there was no perversity in said order of Commissioner (Appeals) and Tribunal and same was to be upheld

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...