Allowing deduction not claimed by the assessee in its return of ...

Case Laws Income Tax

November 14, 2019

Allowing deduction not claimed by the assessee in its return of income u/s.54B - the Income Tax laws are welfare in nature and the very purpose of welfare legislation is that there should not be any cohesive action by the quasi-judicial Authority. It is the duty of the quasi-judicial authority, the AO or the Ld. CIT(A) to guide the assessee to enable him to get benefit whether or not claimed by him for which he is legally eligible.

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Allowing deduction not claimed by the assessee in its return of ...

Case Laws Income Tax

November 14, 2019

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