https://www.taxtmi.com/caselaws?id=761180 ITAT Delhi held that AO's addition of undisclosed investment in committees was perverse. Despite tribunal's specific directions to verify assessee's claim with documents filed before ITSC, AO failed to examine submitted documents and proceeded to tax the same transaction twice - once before ITSC and again in assessment. CIT(A) wrongly upheld this illegal action. ITAT deleted additions for both assessment years 2007-08 and 2008-09, allowing assessee's grounds and denying revenue another opportunity due to perverse orders by lower authorities. en-us Fri, 25 Oct 2024 00:00:00 +0530 Wed, 06 Nov 2024 08:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761180 ITAT Delhi held that AO's addition of undisclosed investment in committees was perverse. Despite tribunal's specific directions to verify assessee's claim with documents filed before ITSC, AO failed to examine submitted documents and proceeded to tax the same transaction twice - once before ITSC and again in assessment. CIT(A) wrongly upheld this illegal action. ITAT deleted additions for both assessment years 2007-08 and 2008-09, allowing assessee's grounds and denying revenue another opportunity due to perverse orders by lower authorities. Case-Laws Income Tax Fri, 25 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761180