Questions arising from miscellaneous application orders cannot challenge unaltered Tribunal findings, leaving the original order separately challengea...
Transfer-pricing comparability filters require fresh arm's-length analysis, while delayed receivables need separate reconsideration with working-capit...
Section 153C jurisdiction requires timely deemed search and assessee-specific satisfaction material; otherwise reassessment must use the proper statut...
The ITAT, an Appellate Tribunal, addressed the issue of denial of exemption u/s 11 due to a violation u/s 13(1)(c)(ii) involving an interest-free advance to a 'specified person' u/s 13(3). The assessee had made an advance to Divine Real Build Pvt. Ltd. for a land purchase agreement, intending to increase FAR with DDA. The AO found the land to be agricultural with no construction permission. The AR argued that crucial documents supporting the assessee's intentions were not available earlier. The ITAT allowed admission of these documents for fair adjudication, remitting the issue back to the AO for fresh consideration in both assessment years. The assessee's appeal was partly allowed for statistical purposes.
The ITAT, an Appellate Tribunal, addressed the issue of denial of exemption u/s 11 due to a violation u/s 13(1)(c)(ii) involving an interest-free advance to a 'specified person' u/s 13(3). The assessee had made an advance to Divine Real Build Pvt. Ltd. for a land purchase agreement, intending to increase FAR with DDA. The AO found the land to be agricultural with no construction permission. The AR argued that crucial documents supporting the assessee's intentions were not available earlier. The ITAT allowed admission of these documents for fair adjudication, remitting the issue back to the AO for fresh consideration in both assessment years. The assessee's appeal was partly allowed for statistical purposes.
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