Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
ITAT held that the revision u/s 263 was unsustainable and set aside the PCIT's order, affirming the AO's allowance of marketing-research, recruitment and retainership fees as deductible revenue expenditure u/s 37(1). The Tribunal found s.35D inapplicable because the expenditures were not incurred pre-commencement nor in relation to expansion/new unit, so they could not be amortised under s.35D. Applying the two-views doctrine, ITAT concluded the AO's prima facie satisfaction after enquiry and documentary scrutiny was not shown to be legally erroneous; mere disagreement by the PCIT did not confer jurisdiction to revise the assessment. Decision in favour of the assessee.
ITAT held that the revision u/s 263 was unsustainable and set aside the PCIT's order, affirming the AO's allowance of marketing-research, recruitment and retainership fees as deductible revenue expenditure u/s 37(1). The Tribunal found s.35D inapplicable because the expenditures were not incurred pre-commencement nor in relation to expansion/new unit, so they could not be amortised under s.35D. Applying the two-views doctrine, ITAT concluded the AO's prima facie satisfaction after enquiry and documentary scrutiny was not shown to be legally erroneous; mere disagreement by the PCIT did not confer jurisdiction to revise the assessment. Decision in favour of the assessee.
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