https://www.taxtmi.com/caselaws?id=399826 The HC set aside the orders of the Tribunal, CIT(A), and AO for the AY 2012-2013, remanding the case to the AO for a detailed enquiry into the source of funds used for interest-free advances. The court instructed the AO to reassess the disallowance under Section 36(1)(iii) based on new findings, ensuring a fair hearing for the assessee. The AO is to issue fresh orders within one year, with no order as to costs. en-us Mon, 12 Oct 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399826 The HC set aside the orders of the Tribunal, CIT(A), and AO for the AY 2012-2013, remanding the case to the AO for a detailed enquiry into the source of funds used for interest-free advances. The court instructed the AO to reassess the disallowance under Section 36(1)(iii) based on new findings, ensuring a fair hearing for the assessee. The AO is to issue fresh orders within one year, with no order as to costs. Case-Laws Income Tax Mon, 12 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399826