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Adhoc Disallowances Without Defects Unsustainable: ITAT Delhi
Case Law Details
- Case Name
- DCIT Vs FMI Automotive Components Pvt. Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs FMI Automotive Components Pvt. Ltd. (ITAT Delhi)
Adhoc Disallowances Without Defects Unsustainable – Delhi Tribunal Grants Full Relief; Revenue’s Case Collapses: ITAT Delhi Deletes Additions on Forex, Repairs & Insurance Claim
Revenue filed appeal against the order of CIT(A), NFAC, Delhi dated 30.05.2024 deleting various disallowances made by AO in the assessment of FMI Automotive Components Pvt. Ltd., a joint venture of Futaba Industrial Co. Ltd. & Maruti Suzuki India Ltd.
AO had disallowed foreign exchange fluctuation loss of Rs.5.90 crore on foreign currency loan util...
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