Addition made by AO Without Considering Section 55A of Income Tax Act: ITAT Directs Re-adjudication [Read Order]

Addition - AO - Income – Tax - Act - ITAT – Re – adjudication - TAXSCAN

The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to re-adjudicate the addition made without considering section 55A of the Income Tax Act,1961.  Satya Dharma Hotels Pvt. Ltd, the appellant assessee was a company engaged in the business of running a hotel on rent. The assessing officer made an…

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