https://www.taxtmi.com/caselaws?id=411586 The ITAT upheld the Principal Commissioner of Income Tax's order, finding the Assessing Officer's assessment erroneous and prejudicial to revenue. The AO failed to scrutinize income disclosed during a survey properly, incorrectly allowed deductions, and set-offs. The ITAT dismissed the assessee's appeals for assessment years 2013-14 and 2014-15, endorsing the direction to conduct a fresh assessment. The AO was instructed to treat all disclosed income as taxable under relevant sections, disallow standard deduction, and include unaccounted income. en-us Mon, 23 Aug 2021 00:00:00 +0530 Sat, 28 Aug 2021 09:22:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411586 The ITAT upheld the Principal Commissioner of Income Tax's order, finding the Assessing Officer's assessment erroneous and prejudicial to revenue. The AO failed to scrutinize income disclosed during a survey properly, incorrectly allowed deductions, and set-offs. The ITAT dismissed the assessee's appeals for assessment years 2013-14 and 2014-15, endorsing the direction to conduct a fresh assessment. The AO was instructed to treat all disclosed income as taxable under relevant sections, disallow standard deduction, and include unaccounted income. Case-Laws Income Tax Mon, 23 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411586