Cash Deposits During Demonetization Can't Be Treated As Unexplained Without Rejecting Books Of A/C: Delhi ITAT livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.
Finding that the AO has completely relied on the statement of third party without giving opportunity to the assessee to prove its point of view, which is against natural justice, the Mumbai ITAT.
On finding that the reopening of the assessment is beyond the time limit provided under the proviso to Section 147 of the Income Tax Act, the Mumbai ITAT quashed the order of disallowance passed by.
On finding that the AO had audited and still not rejected the books of account, the Mumbai ITAT held that the ad hoc disallowance made by the AO was not justified and needed to be deleted. The.
On finding that the liability of payment to Core SGF by the assessee is ascertained, the Mumbai ITAT held that it cannot be added back as per clause (c) of Explanation-1 to section 115JB(2) of the.