https://www.taxtmi.com/caselaws?id=417566 The Tribunal upheld the Principal CIT's decision that the assessment order passed under section 143(3) of the Income Tax Act was erroneous and prejudicial to revenue. The Assessee's appeal against the order challenging the assessment for the Assessment Year 2014-15 was dismissed. Despite the Assessee's explanations and provided documents, the lack of verification on deemed imports and VAT input claims led to the conclusion that the assessment was flawed. The Tribunal noted discrepancies in the VAT input claims and deemed imports, emphasizing the failure of the Assessing Officer to verify crucial aspects, resulting in the unfavorable outcome for the Assessee. en-us Thu, 23 Dec 2021 00:00:00 +0530 Thu, 27 Jan 2022 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417566 The Tribunal upheld the Principal CIT's decision that the assessment order passed under section 143(3) of the Income Tax Act was erroneous and prejudicial to revenue. The Assessee's appeal against the order challenging the assessment for the Assessment Year 2014-15 was dismissed. Despite the Assessee's explanations and provided documents, the lack of verification on deemed imports and VAT input claims led to the conclusion that the assessment was flawed. The Tribunal noted discrepancies in the VAT input claims and deemed imports, emphasizing the failure of the Assessing Officer to verify crucial aspects, resulting in the unfavorable outcome for the Assessee. Case-Laws Income Tax Thu, 23 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417566