Validity of order passed u/ss 154/147/143(3) - Disallowance of ...

Prior period expenses disallowed in first year of business. Reassessment quantum addition can't be challenged via rectification order.

Case Laws Income Tax

July 9, 2024

Validity of order passed u/ss 154/147/143(3) - Disallowance of prior period expenses - Relevant previous year being first year of assessee's business, no prior period expenses existed - Quantum addition and charging of interest in reassessment order u/s 147/143 cannot be raised during appellate proceedings initiated due to revision/rectification order u/s 154/147/143(3) - Rectification order cannot challenge validity and quantum addition made in reassessment order - Appeal challenging quantum addition dismissed.

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Validity of order passed u/ss 154/147/143(3) - Disallowance of ...

Prior period expenses disallowed in first year of business. Reassessment quantum addition can't be challenged via rectification order.

Case Laws Income Tax

July 9, 2024

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