Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
The case involves a dispute regarding adjustments made u/s 143(1) of the Income Tax Act due to the denial of exemption u/s 11 for not electronically filing Form 10B. The assessing officer's scope u/s 143(1) is limited to prima facie mistakes apparent from available records. The Central Processing Center (CPC) in Bengaluru made adjustments based on non-electronic filing of Form 10, despite the form being later filed electronically. The issue requires reconsideration by the AO, as seen in similar cases where the Tribunal directed verification of manually filed forms to assess exemption claims. The matter is remanded to the AO for proper consideration, and the appeal by the assessee is partly allowed.
The case involves a dispute regarding adjustments made u/s 143(1) of the Income Tax Act due to the denial of exemption u/s 11 for not electronically filing Form 10B. The assessing officer's scope u/s 143(1) is limited to prima facie mistakes apparent from available records. The Central Processing Center (CPC) in Bengaluru made adjustments based on non-electronic filing of Form 10, despite the form being later filed electronically. The issue requires reconsideration by the AO, as seen in similar cases where the Tribunal directed verification of manually filed forms to assess exemption claims. The matter is remanded to the AO for proper consideration, and the appeal by the assessee is partly allowed.
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