https://www.taxtmi.com/caselaws?id=442809 The appellate tribunal overturned the National Faceless Appeal Centre's decision and upheld the Assessing Officer's denial of deduction under Section 54B of the Income Tax Act. The tribunal found that the NFAC's order lacked detailed reasoning and did not address the substantial evidence presented by the AO, emphasizing the necessity of reasoned orders in judicial decisions to prevent arbitrariness. Consequently, the Revenue's appeal was allowed, highlighting the importance of thorough justifications in judicial orders for fairness in decision-making. en-us Wed, 06 Sep 2023 00:00:00 +0530 Mon, 11 Sep 2023 09:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442809 The appellate tribunal overturned the National Faceless Appeal Centre's decision and upheld the Assessing Officer's denial of deduction under Section 54B of the Income Tax Act. The tribunal found that the NFAC's order lacked detailed reasoning and did not address the substantial evidence presented by the AO, emphasizing the necessity of reasoned orders in judicial decisions to prevent arbitrariness. Consequently, the Revenue's appeal was allowed, highlighting the importance of thorough justifications in judicial orders for fairness in decision-making. Case-Laws Income Tax Wed, 06 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442809