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Ind-AS Fair Value Gains Can’t Be Ignored in Section 94B Scrutiny
Case Law Details
- Case Name
- Manaveeya Development & Finance Private Limited Vs DCIT (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-2021
- Courts
- All ITAT, ITAT Hyderabad
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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...
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