https://www.taxtmi.com/caselaws?id=464253 ITAT upheld the CIT(A)'s deletions and rulings in favour of the assessee on multiple grounds: disallowance of IDC under the POCM method, disallowance under section 14A for lack of recorded satisfaction, reclassification of house property income to business income, and helicopter/aircraft expense disallowance. The Tribunal rejected the AO's additions for unverified purchases, ruled that summons under section 133(6) and adequate opportunity were required, and found opening balances improperly treated. The matters were remitted to the AO for fresh adjudication with opportunity to be heard; appeal allowed for statistical purposes. en-us Wed, 06 Nov 2024 00:00:00 +0530 Mon, 13 Oct 2025 11:01:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464253 ITAT upheld the CIT(A)'s deletions and rulings in favour of the assessee on multiple grounds: disallowance of IDC under the POCM method, disallowance under section 14A for lack of recorded satisfaction, reclassification of house property income to business income, and helicopter/aircraft expense disallowance. The Tribunal rejected the AO's additions for unverified purchases, ruled that summons under section 133(6) and adequate opportunity were required, and found opening balances improperly treated. The matters were remitted to the AO for fresh adjudication with opportunity to be heard; appeal allowed for statistical purposes. Case-Laws Income Tax Wed, 06 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464253