https://www.taxtmi.com/caselaws?id=425950 The ITAT provided the assessee with a fair hearing opportunity by setting aside the CIT(A)'s order on the validity of reopening assessment for A.Y. 2011-12. The disallowance under Section 14A for A.Y. 2014-15 was limited to actual exempt income earned, upheld by the ITAT based on a Delhi High Court precedent. The ITAT remanded issues like yatch expenses, travelling and car expenses, deemed rent, and depreciation on car back to the CIT(A) for further examination and fair opportunities for the assessee to present necessary evidence. The assessment of deemed rental income for A.Y. 2016-17 was also remanded for fresh examination. en-us Mon, 04 Jul 2022 00:00:00 +0530 Thu, 04 Aug 2022 13:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425950 The ITAT provided the assessee with a fair hearing opportunity by setting aside the CIT(A)'s order on the validity of reopening assessment for A.Y. 2011-12. The disallowance under Section 14A for A.Y. 2014-15 was limited to actual exempt income earned, upheld by the ITAT based on a Delhi High Court precedent. The ITAT remanded issues like yatch expenses, travelling and car expenses, deemed rent, and depreciation on car back to the CIT(A) for further examination and fair opportunities for the assessee to present necessary evidence. The assessment of deemed rental income for A.Y. 2016-17 was also remanded for fresh examination. Case-Laws Income Tax Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425950