Vehicle expense apportionment and agricultural income substantiation: ITAT allowed partial business deduction and deleted the reclassification additio...
A common satisfaction note recorded under section 153C for multiple assessment years was held to be legally unsustainable. The Tribunal, following co-ordinate bench authority, accepted that satisfaction must be recorded separately for each assessment year because a consolidated note defeats valid assumption of jurisdiction. On that basis, the assessments for the relevant years were quashed.
A common satisfaction note recorded under section 153C for multiple assessment years was held to be legally unsustainable. The Tribunal, following co-ordinate bench authority, accepted that satisfaction must be recorded separately for each assessment year because a consolidated note defeats valid assumption of jurisdiction. On that basis, the assessments for the relevant years were quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
