Disallowance u/s 37 of Income Tax Act: ITAT Allows Opportunity to Prove Genuineness of Payment [Read Order]

The bench observed that the CIT(A) had failed to provide adequate opportunity to the assessee

By Adwaid M S - On November 23, 2024 11:06 am - 2 mins read

ITAT - Income Tax - ITAT Bangalore - Income Tax Appellate Tribunal - TAXSCAN

In a recent case, the Income Tax Appellate Tribunal, Bangalore ( ITAT ) has directed the Commissioner of Income-tax (Appeals), CIT(A) to restore and review the Income Tax Appeal filed by the assessee to examine the payment of Rs. 40 lakhs, which the Assessing Officer disallowed under section 37 due to the assessee’s failure to…

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