Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The ITAT addressed various issues including disallowance u/s 14A r.w.r.8D, where Revenue challenged deletion of disallowance made by AO. ITAT upheld CIT(A)'s decision, finding AO incorrectly treated expenses as direct, supporting Assessee's claim. CIT(A) correctly presumed investments made from interest-free funds. AO erred in not accepting Assessee's computation of disallowance, hence ITAT deleted disallowance u/s 14A. ITAT allowed Assessee's fresh claim for deduction u/s 37(1) for ERV loss, remanding for verification. ITAT upheld deduction of establishment expenses as revenue expenditure. ITAT dismissed Revenue's appeal on inclusion of ERV in inventory valuation. ITAT upheld CIT(A)'s order on Book Profits u/s 115JB and provision for Leave Encashment u/s 43B(f). ITAT supported Assessee's additional claim for ERV loss deduction, finding AO's rejection erroneous post accepting revised return.
The ITAT addressed various issues including disallowance u/s 14A r.w.r.8D, where Revenue challenged deletion of disallowance made by AO. ITAT upheld CIT(A)'s decision, finding AO incorrectly treated expenses as direct, supporting Assessee's claim. CIT(A) correctly presumed investments made from interest-free funds. AO erred in not accepting Assessee's computation of disallowance, hence ITAT deleted disallowance u/s 14A. ITAT allowed Assessee's fresh claim for deduction u/s 37(1) for ERV loss, remanding for verification. ITAT upheld deduction of establishment expenses as revenue expenditure. ITAT dismissed Revenue's appeal on inclusion of ERV in inventory valuation. ITAT upheld CIT(A)'s order on Book Profits u/s 115JB and provision for Leave Encashment u/s 43B(f). ITAT supported Assessee's additional claim for ERV loss deduction, finding AO's rejection erroneous post accepting revised return.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
