https://www.taxtmi.com/caselaws?id=425342 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decisions in both issues, dismissing the Revenue's appeal and ruling in favor of the assessee. The ITAT emphasized that the Assessing Officer (A.O.) failed to provide a legal basis for treating the retained amount as income in the first issue and that the Revenue had not challenged the CIT(A)'s findings in the second issue. Consequently, the ITAT dismissed the Revenue's appeal on both matters. en-us Tue, 19 Jul 2022 00:00:00 +0530 Fri, 05 Aug 2022 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425342 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decisions in both issues, dismissing the Revenue's appeal and ruling in favor of the assessee. The ITAT emphasized that the Assessing Officer (A.O.) failed to provide a legal basis for treating the retained amount as income in the first issue and that the Revenue had not challenged the CIT(A)'s findings in the second issue. Consequently, the ITAT dismissed the Revenue's appeal on both matters. Case-Laws Income Tax Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425342