https://www.taxtmi.com/caselaws?id=429764 The ITAT allowed the appeal in a case where the assessee's returned loss was assessed as taxable income under section 143(1) of the Act for the assessment year 2014-15. The delay in serving notice under section 139(9) prevented the assessee from rectifying errors, leading to the disallowance of deductions. Emphasizing natural justice and the duty of tax authorities to assist taxpayers, the ITAT granted the assessee a fresh opportunity to rectify mistakes. Similarly, disallowance of interest and remuneration paid to partners was overturned, providing the assessee with a chance to substantiate deductions under relevant sections of the IT Act. en-us Mon, 31 Oct 2022 00:00:00 +0530 Fri, 04 Nov 2022 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429764 The ITAT allowed the appeal in a case where the assessee's returned loss was assessed as taxable income under section 143(1) of the Act for the assessment year 2014-15. The delay in serving notice under section 139(9) prevented the assessee from rectifying errors, leading to the disallowance of deductions. Emphasizing natural justice and the duty of tax authorities to assist taxpayers, the ITAT granted the assessee a fresh opportunity to rectify mistakes. Similarly, disallowance of interest and remuneration paid to partners was overturned, providing the assessee with a chance to substantiate deductions under relevant sections of the IT Act. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429764