2024 (10) TMI 1374 - SCH - Income Tax

Revision u/s 263 - TDS u/s 195 - disallowance of expenditure u/s 40(a)(ia) - HC 2022 (11) TMI 1526 - ORISSA HIGH COURT held that conclusion reached by the ITAT that the CIT could not have unilaterally directed the AO to add back the aforementioned sum by holding that it was disallowable as expenditure could not have been issued u/s 263 of the Act without the AO again examining the issue. To that extent, the said direction was indeed beyond the jurisdiction of the CIT u/s 263 - HELD THAT - We have heard learned senior counsel for the petitioner and for the respondent/Assessee. We are not inclined to interfere in the matter. Special Leave Petition is hence dismissed. Pending application(s) shall stand disposed of.

Summary

The Supreme Court of India dismissed the Special Leave Petition as they were not inclined to interfere in the matter. Pending applications were disposed of.