The period commencing from the day on which the AO directs the assessee to get its account audited under s 142(2A) and ending on the day on which the assessee was requested to furnish a report of such audit under that sub-section, shall be excluded for computation of limitation period for completing the block assessment — as held by IndoreTrib in Sanwaria Agro Oils Limited v ACIT — In favour of: The revenue.
No disallowance can be made under s 40A(2B) for the expenses incurred to the sister concern where the revenue could not prove that the expenditure was more than the prevalent market rate.
In favour of: The assessee
Decided on: 30 May 2011.
No comments:
Post a Comment