https://www.taxtmi.com/caselaws?id=415142 The tribunal partly allowed the appeals, remitting various issues back to the AO for fresh adjudication with directions to verify the claims and provide adequate opportunity to the assessee. The delays in filing appeals were condoned in the interest of substantial justice, following the Supreme Court decision in Collector Land Acquisition v. Mst. Katiji & Ors. The tribunal directed the AO to de novo adjudicate on disallowed prior period adjustments, difference in opening stock, set off of brought forward business loss and unabsorbed depreciation, disallowed depreciation for a closed plant, and rebate expenses. en-us Thu, 14 Oct 2021 00:00:00 +0530 Sat, 27 Nov 2021 08:46:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415142 The tribunal partly allowed the appeals, remitting various issues back to the AO for fresh adjudication with directions to verify the claims and provide adequate opportunity to the assessee. The delays in filing appeals were condoned in the interest of substantial justice, following the Supreme Court decision in Collector Land Acquisition v. Mst. Katiji & Ors. The tribunal directed the AO to de novo adjudicate on disallowed prior period adjustments, difference in opening stock, set off of brought forward business loss and unabsorbed depreciation, disallowed depreciation for a closed plant, and rebate expenses. Case-Laws Income Tax Thu, 14 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415142