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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income Tax Orders u/s 195(2) Must Include Clear Basis for Income Estimation, Says Appellate Tribunal.</h1> The Board has identified an issue where an order under Section 195(2) of the Income Tax Act, 1961, lacked a clear basis for estimating taxable income in India. The Appellate Tribunal ruled that the absence of a basis rendered the order defective. The Board emphasizes the importance of including a clear basis for income estimation in such orders to withstand appeals. Officers are instructed to ensure compliance with this requirement to avoid similar issues in the future. This directive should be communicated to all relevant officers.
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