Shri Sunil Bankatlal vs. The Income Tax Officer

Parties Involved

Facts Summary

The assessee, Shri Sunil Bankatlal, filed an appeal against the National Faceless Appeal Centre's order dated 13.12.2023, which enhanced the deduction disallowance under section 80IA(4) of the Income Tax Act, 1961. The appeal was heard on 17.09.2024 and the order was pronounced on 27.09.2024. The assessee argued that the lower authorities erred in law and on facts by rectifying section 143(1) 'processing' under section 154 of the Act, thereby enhancing the section-80IA(4) deduction disallowance to Rs.24,23,653/- than that already allowed of Rs.98,24,640/-. The Revenue argued that the assessee had been duly heard and the disallowance was sustainable in law.…

Legal Issues

• 1. Whether the disallowance of Rs.24,23,653/- under section 80IA(4) is sustainable in law?

Judgment Outcome

Decided in favour of Assessee.

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