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

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 ...

Income Tax

November 14, 2019

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