Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expens...
The ITAT Raipur held that an order passed in the name of a deceased assessee was invalid as legal heirs failed to disclose the death. Deduction u/s. 54F was denied as the deceased had not utilized sale proceeds for new property within the specified time. Section 159 requires compliance when an assessee dies during proceedings. Citing Dalumal Shyamumal case, the Tribunal declared the assessment order a nullity and directed a proper assessment. The order in the present case was deemed defective and null, criticizing the legal heirs for non-disclosure. The matter was remanded to CIT(A) for fresh consideration with legal heirs' involvement. Legal heirs must be given a chance to be heard. Appeal allowed for statistical purposes.
The ITAT Raipur held that an order passed in the name of a deceased assessee was invalid as legal heirs failed to disclose the death. Deduction u/s. 54F was denied as the deceased had not utilized sale proceeds for new property within the specified time. Section 159 requires compliance when an assessee dies during proceedings. Citing Dalumal Shyamumal case, the Tribunal declared the assessment order a nullity and directed a proper assessment. The order in the present case was deemed defective and null, criticizing the legal heirs for non-disclosure. The matter was remanded to CIT(A) for fresh consideration with legal heirs' involvement. Legal heirs must be given a chance to be heard. Appeal allowed for statistical purposes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
