https://www.taxtmi.com/caselaws?id=456369 ITAT Bangalore partially allowed the appeal in an assessment u/s 153A case. The tribunal held that CIT(A) erred by not examining MAT adjustments on merits, ruling there is no estoppel in tax laws. On book profits computation u/s 115JB, the tribunal confirmed AO cannot make adjustments beyond Explanation (1) provisions, upholding CIT(A)'s decision on depreciation claims given statutory auditor certification. However, the case was remanded to CIT(A) for fresh examination of adjustments. The tribunal deleted additions made without incriminating search materials for AY 2011-12, as search occurred after normal assessment time limits expired. Disallowance u/s 14A was restricted per previous tribunal directions. en-us Mon, 13 Jun 2022 00:00:00 +0530 Sun, 21 Jul 2024 16:25:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456369 ITAT Bangalore partially allowed the appeal in an assessment u/s 153A case. The tribunal held that CIT(A) erred by not examining MAT adjustments on merits, ruling there is no estoppel in tax laws. On book profits computation u/s 115JB, the tribunal confirmed AO cannot make adjustments beyond Explanation (1) provisions, upholding CIT(A)'s decision on depreciation claims given statutory auditor certification. However, the case was remanded to CIT(A) for fresh examination of adjustments. The tribunal deleted additions made without incriminating search materials for AY 2011-12, as search occurred after normal assessment time limits expired. Disallowance u/s 14A was restricted per previous tribunal directions. Case-Laws Income Tax Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456369