https://www.taxtmi.com/caselaws?id=401426 The Appellate Tribunal ITAT Kolkata ruled in favor of the assessee in a case involving jurisdiction under Section 154, a mistake apparent on record, and the highly debatable disallowance under Section 40(a)(ia) of the Income Tax Act, 1961. The Tribunal held that the order under Section 154 was not valid as it required consideration of fresh facts, emphasizing the debatable nature of the issue. Consequently, the appeal was allowed, highlighting the importance of verification and the absence of a clear mistake apparent on the record. en-us Fri, 04 Dec 2020 00:00:00 +0530 Mon, 07 Dec 2020 10:55:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401426 The Appellate Tribunal ITAT Kolkata ruled in favor of the assessee in a case involving jurisdiction under Section 154, a mistake apparent on record, and the highly debatable disallowance under Section 40(a)(ia) of the Income Tax Act, 1961. The Tribunal held that the order under Section 154 was not valid as it required consideration of fresh facts, emphasizing the debatable nature of the issue. Consequently, the appeal was allowed, highlighting the importance of verification and the absence of a clear mistake apparent on the record. Case-Laws Income Tax Fri, 04 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401426