Deeming Provision cannot be Applied Mechanically Ignoring Facts of the Case and Surrounding Circumstances: ITAT [Read Order]

Deeming Provision - Ignoring Facts - Facts - Case - Surrounding Circumstances - Circumstances - ITAT - Taxscan

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that deeming provision cannot be applied mechanically, ignoring the facts of the case and surrounding circumstances. The aforesaid observation was made by the Delhi ITAT, when an appeal was preferred before it by the appellant M/s. Godwin Construction…

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