https://www.taxtmi.com/caselaws?id=420657 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on all issues regarding the deletion of additions under various sections of the Income Tax Act. The Tribunal found the AO's valuation methods to be incorrect and not in line with prescribed rules, supporting the assessee's valuation approaches. Additionally, the Tribunal affirmed the eligibility of the assessee for depreciation on goodwill arising from an amalgamation. The Tribunal also upheld the CIT(A)'s findings on the disallowance of expenses related to exempt income and dismissed the disallowance based on directions under section 144A, as the AO had provided the assessee with an opportunity to be heard. en-us Tue, 22 Mar 2022 00:00:00 +0530 Thu, 07 Apr 2022 10:00:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420657 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on all issues regarding the deletion of additions under various sections of the Income Tax Act. The Tribunal found the AO's valuation methods to be incorrect and not in line with prescribed rules, supporting the assessee's valuation approaches. Additionally, the Tribunal affirmed the eligibility of the assessee for depreciation on goodwill arising from an amalgamation. The Tribunal also upheld the CIT(A)'s findings on the disallowance of expenses related to exempt income and dismissed the disallowance based on directions under section 144A, as the AO had provided the assessee with an opportunity to be heard. Case-Laws Income Tax Tue, 22 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420657