Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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In the case before ITAT Delhi, the Appellate Tribunal upheld the assessment made by the Assessing Officer (AO) u/s 144 of the Income Tax Act. The additions included depletion in the value of investment, writing off of debit balance, disallowance under section 40(a), and treatment of unsecured loans. The Tribunal noted that the assessee failed to provide any material contradicting the AO's findings. The auditor of the assessee also acknowledged the capital nature of the investment depletion, debit balance, and disallowances. Due to the lack of evidence and failure to confirm unsecured loans, the Tribunal affirmed the AO's findings and dismissed the assessee's appeal.
In the case before ITAT Delhi, the Appellate Tribunal upheld the assessment made by the Assessing Officer (AO) u/s 144 of the Income Tax Act. The additions included depletion in the value of investment, writing off of debit balance, disallowance under section 40(a), and treatment of unsecured loans. The Tribunal noted that the assessee failed to provide any material contradicting the AO's findings. The auditor of the assessee also acknowledged the capital nature of the investment depletion, debit balance, and disallowances. Due to the lack of evidence and failure to confirm unsecured loans, the Tribunal affirmed the AO's findings and dismissed the assessee's appeal.
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