https://www.taxtmi.com/caselaws?id=238976 The Tribunal remanded the case to the Assessing Officer for de novo assessment, emphasizing the violation of natural justice principles in the order passed under Section 144 of the Income Tax Act. It highlighted the issue of double taxation on the same income and the allowance of expenditure under Section 194C, stressing the importance of fair assessment processes. The Tribunal also addressed the determination of gross receipts and net profit, emphasizing the need for clarity and compliance in assessments. Additionally, it acknowledged concerns regarding potential double taxation and scrutinized the CIT(A)'s enhancement of interest income, ultimately allowing the appeal for statistical purposes. en-us Tue, 01 Jan 2013 00:00:00 +0530 Fri, 01 Nov 2013 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238976 The Tribunal remanded the case to the Assessing Officer for de novo assessment, emphasizing the violation of natural justice principles in the order passed under Section 144 of the Income Tax Act. It highlighted the issue of double taxation on the same income and the allowance of expenditure under Section 194C, stressing the importance of fair assessment processes. The Tribunal also addressed the determination of gross receipts and net profit, emphasizing the need for clarity and compliance in assessments. Additionally, it acknowledged concerns regarding potential double taxation and scrutinized the CIT(A)'s enhancement of interest income, ultimately allowing the appeal for statistical purposes. Case-Laws Income Tax Tue, 01 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238976