https://www.taxtmi.com/caselaws?id=191477 The Income Tax Appellate Tribunal (ITAT) allowed the appeal, directing the Assessing Officer (AO) to consider the revised return of income filed by the assessee after a search and seizure operation. The ITAT emphasized the importance of conducting a fresh assessment based on the revised return, setting aside the decisions of the AO and the Commissioner of Income Tax (Appeals) on the disallowance of advertisement expenses and the claim for deduction of "loss on clearance sale." The ITAT highlighted procedural errors in rejecting the revised return and mandated a de-novo assessment by the AO. en-us Fri, 11 Oct 2013 00:00:00 +0530 Wed, 05 Apr 2017 11:51:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191477 The Income Tax Appellate Tribunal (ITAT) allowed the appeal, directing the Assessing Officer (AO) to consider the revised return of income filed by the assessee after a search and seizure operation. The ITAT emphasized the importance of conducting a fresh assessment based on the revised return, setting aside the decisions of the AO and the Commissioner of Income Tax (Appeals) on the disallowance of advertisement expenses and the claim for deduction of "loss on clearance sale." The ITAT highlighted procedural errors in rejecting the revised return and mandated a de-novo assessment by the AO. Case-Laws Income Tax Fri, 11 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191477