The Tax Publishers2021 TaxPub(DT) 0127 (Chen-Trib)

INCOME TAX ACT, 1961

Section 37(1)

Where assessment order indicated that issue was not properly examined, therefore, it would be fit to remit this issue back to AO for a fresh examination and assessee shall lay relevant evidence/material in support of its contention and comply with the requirements of AO in accordance with law.

Business expenditure - Disallowance of prior period expenses - Allowability -

Assessee, a public sector undertaking wholly owned by Government, in the business of production of cement and cement based products claimed, inter alia, prior period expenditure. However, the same was disallowed by AO. Held: It was clear from the Assessment Order that this issue was not properly examined. Therefore, it would be fit to remit this issue back to AO for a fresh examination. Assessee shall lay relevant evidence/material in support of its contention and comply with the requirements of AO in accordance with law and AO on due examination and after affording due opportunity to the assessee, shall decide the issue on merits.

REFERRED :

FAVOUR : Matter remanded.

A.Y. : 2013-14


INCOME TAX ACT, 1961

Section 36(1)(va)

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