https://www.taxtmi.com/caselaws?id=757118 The Tribunal set aside the CIT(A)'s order, remanding the case back to the AO for fresh adjudication. The Tribunal emphasized principles of natural justice, directing the AO to provide the appellant with a fair opportunity to present evidence regarding the estimation of net profit and disallowance under section 24(b). The Tribunal found merit in the appellant's contentions and instructed the deletion of the Rs. 2,00,000/- disallowance. The appeal was allowed for statistical purposes, ensuring the appellant could substantiate their claims before the AO. en-us Mon, 12 Aug 2024 00:00:00 +0530 Fri, 16 Aug 2024 08:19:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757118 The Tribunal set aside the CIT(A)'s order, remanding the case back to the AO for fresh adjudication. The Tribunal emphasized principles of natural justice, directing the AO to provide the appellant with a fair opportunity to present evidence regarding the estimation of net profit and disallowance under section 24(b). The Tribunal found merit in the appellant's contentions and instructed the deletion of the Rs. 2,00,000/- disallowance. The appeal was allowed for statistical purposes, ensuring the appellant could substantiate their claims before the AO. Case-Laws Income Tax Mon, 12 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757118