Ind-AS Fair Value Gains Can’t Be Ignored in Section 94B Scrutiny

Manaveeya Development & Finance Private Limited Vs DCIT (ITAT Hyderabad) Inflated EBITDA Under Ind-AS Triggers Revision: ITAT Hyderabad Upholds s.263 Action in s.94B Case Hyderabad ITAT ‘A’ Bench, in Manaveeya Development & Finance Pvt. Ltd. vs. DCIT (ITA No.480/Hyd/2025, AY 2020-21, order dated 24.12.2025), dismissed the assessee’s appeal and upheld the revisionary jurisdiction exercised by the Pr. CIT u/s 263, holding that the original assessment suffered from complete lack of enquiry on a crucial issue under s.94B. The assessee-company (an NBFC) had paid substantial interest t...