Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
A first appellate order that merely reproduces the parties' submissions and the Assessing Officer's findings, and then reverses the assessment in a few lines by relying on another case, is inadequate because reasons are essential for appellate scrutiny and for showing application of mind to facts and law. Where the CIT(A) does not give effective adjudication, remand for fresh decision is appropriate; the Tribunal need not substitute itself as the primary appellate forum simply because it is the last fact-finding authority. Reliance on Arvind Kumar Jaiswal was found inapposite on these facts, and the remand to the CIT(A) was upheld.
A first appellate order that merely reproduces the parties' submissions and the Assessing Officer's findings, and then reverses the assessment in a few lines by relying on another case, is inadequate because reasons are essential for appellate scrutiny and for showing application of mind to facts and law. Where the CIT(A) does not give effective adjudication, remand for fresh decision is appropriate; the Tribunal need not substitute itself as the primary appellate forum simply because it is the last fact-finding authority. Reliance on Arvind Kumar Jaiswal was found inapposite on these facts, and the remand to the CIT(A) was upheld.
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