https://www.taxtmi.com/caselaws?id=423558 The Tribunal set aside the Ld. CIT(A)'s order and directed the Assessing Officer to delete the addition of Rs. 8,28,211 under Section 36(1)(va) of the Income Tax Act. It ruled that adjustments under Section 143(1) on debatable issues are impermissible and that retrospective amendments cannot be applied for such adjustments. The Tribunal did not address the prospective or retrospective nature of amendments by Finance Act, 2021, deeming it irrelevant to this decision. The appeal of the assessee was partly allowed for statistical purposes. en-us Tue, 24 May 2022 00:00:00 +0530 Thu, 09 Jun 2022 08:16:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423558 The Tribunal set aside the Ld. CIT(A)'s order and directed the Assessing Officer to delete the addition of Rs. 8,28,211 under Section 36(1)(va) of the Income Tax Act. It ruled that adjustments under Section 143(1) on debatable issues are impermissible and that retrospective amendments cannot be applied for such adjustments. The Tribunal did not address the prospective or retrospective nature of amendments by Finance Act, 2021, deeming it irrelevant to this decision. The appeal of the assessee was partly allowed for statistical purposes. Case-Laws Income Tax Tue, 24 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423558