https://www.taxtmi.com/caselaws?id=466216 Addresses the requirement for tax authorities to record express or implied dissatisfaction with an assessees claim before applying a notional disallowance computation for exempt income. The analysis finds that merely noting that disallowance was not computed according to the prescribed computation mechanism does not amount to a substantive examination of the correctness of expenditure claims, and therefore cannot justify invoking the notional disallowance procedure; absence of recorded dissatisfaction defeats the basis for the disallowance, resulting in reversal of the adjustment. en-us Thu, 30 May 2024 00:00:00 +0530 Thu, 29 Jan 2026 19:07:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466216 Addresses the requirement for tax authorities to record express or implied dissatisfaction with an assessees claim before applying a notional disallowance computation for exempt income. The analysis finds that merely noting that disallowance was not computed according to the prescribed computation mechanism does not amount to a substantive examination of the correctness of expenditure claims, and therefore cannot justify invoking the notional disallowance procedure; absence of recorded dissatisfaction defeats the basis for the disallowance, resulting in reversal of the adjustment. Case-Laws Income Tax Thu, 30 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466216