Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
After admitting an additional ground for deduction under section 32AC, the ITAT held that the appellate authority had to decide the claim on merits and could not refuse it merely because it was raised belatedly or on conduct-based objections already waived at admission. It further held that Goetz India Ltd. did not limit the appellate authority's power to entertain a fresh statutory claim supported by documents and capable of verification. However, because the remand report did not clearly confirm that the assets were new plant and machinery or that all statutory conditions were met, the matter was remanded to the Assessing Officer for fresh examination.
After admitting an additional ground for deduction under section 32AC, the ITAT held that the appellate authority had to decide the claim on merits and could not refuse it merely because it was raised belatedly or on conduct-based objections already waived at admission. It further held that Goetz India Ltd. did not limit the appellate authority's power to entertain a fresh statutory claim supported by documents and capable of verification. However, because the remand report did not clearly confirm that the assets were new plant and machinery or that all statutory conditions were met, the matter was remanded to the Assessing Officer for fresh examination.
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