https://www.taxtmi.com/caselaws?id=448895 The ITAT Mumbai addressed challenges concerning additions and disallowances under sections 69C, 2(22)(e), and 56(2)(vii) of the Income Tax Act for AYs 2011-12, 2012-13, and 2013-14. For AY 2011-12, the ITAT set aside the CIT(A)'s order regarding an accommodation entry and directed a fresh examination by the AO. For AY 2012-13, the ITAT found the AO's application of sec. 2(22)(e) incorrect and ordered a reevaluation. For AY 2013-14, the ITAT noted procedural violations by the CIT(A) and mandated a fresh examination by the AO for the valuation issue. en-us Tue, 30 Jan 2024 00:00:00 +0530 Thu, 01 Feb 2024 07:45:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448895 The ITAT Mumbai addressed challenges concerning additions and disallowances under sections 69C, 2(22)(e), and 56(2)(vii) of the Income Tax Act for AYs 2011-12, 2012-13, and 2013-14. For AY 2011-12, the ITAT set aside the CIT(A)'s order regarding an accommodation entry and directed a fresh examination by the AO. For AY 2012-13, the ITAT found the AO's application of sec. 2(22)(e) incorrect and ordered a reevaluation. For AY 2013-14, the ITAT noted procedural violations by the CIT(A) and mandated a fresh examination by the AO for the valuation issue. Case-Laws Income Tax Tue, 30 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448895