ITAT Upholds Deletion of Self-Imposed Disallowance u/s 14A; Taxpayer Can Correct Errors Without Revised Return.

ITAT Upholds Deletion of Self-Imposed Disallowance u/s 14A; Taxpayer Can Correct Errors Without Revised Return. https://www.taxtmi.com/highlights?id=47870 Disallowance u/s 14A - CIT(A) deleted the suomotu disallowance made by the assessee and upheld by ITAT - claim that an income not taxable is wrongly offered for tax will not operate as any kind of estoppel against the assessee regardless whether the revised return was filed or not - Revenue is obliged to assess the correct income - suomotu disallowance correctly deleted en-us Fri, 12 Jul 2019 08:26:07 +0530 Fri, 12 Jul 2019 08:26:07 +0530 TaxTMI RSS Generator ITAT Upholds Deletion of Self-Imposed Disallowance u/s 14A; Taxpayer Can Correct Errors Without Revised Return. https://www.taxtmi.com/highlights?id=47870 Disallowance u/s 14A - CIT(A) deleted the suomotu disallowance made by the assessee and upheld by ITAT - claim that an income not taxable is wrongly offered for tax will not operate as any kind of estoppel against the assessee regardless whether the revised return was filed or not - Revenue is obliged to assess the correct income - suomotu disallowance correctly deleted Highlights Income Tax Fri, 12 Jul 2019 08:26:07 +0530 https://www.taxtmi.com/highlights?id=47870