Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Assessment proceedings examined assessee's claim relating to ICDS adjustment made in intimation u/s 143(1). AO issued notices seeking information, assessee provided explanations and documentation supporting claim. AO passed assessment order without adverse findings, indicating acceptance of assessee's claim. However, while computing income, AO considered figure from section 143(1) intimation without deleting ICDS adjustment, despite examining and accepting assessee's claim during assessment proceedings. ITAT found AO should have deleted ICDS adjustment after duly examining and accepting assessee's claim. Consequently, ITAT set aside CIT(A)'s order and directed deletion of ICDS adjustment, allowing assessee's appeal.
Assessment proceedings examined assessee's claim relating to ICDS adjustment made in intimation u/s 143(1). AO issued notices seeking information, assessee provided explanations and documentation supporting claim. AO passed assessment order without adverse findings, indicating acceptance of assessee's claim. However, while computing income, AO considered figure from section 143(1) intimation without deleting ICDS adjustment, despite examining and accepting assessee's claim during assessment proceedings. ITAT found AO should have deleted ICDS adjustment after duly examining and accepting assessee's claim. Consequently, ITAT set aside CIT(A)'s order and directed deletion of ICDS adjustment, allowing assessee's appeal.
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