AO cannot Reject the Claim for being raised for First Time

Curewel (India) Ltd. Vs ITO (Delhi High Court)

Assessing Officer ought to have evaluated the claim made by the assessee for write-off of liability by Canara Bank in its favour amounting to Rs. 1,36,45,525/-, and should not have rejected the same merely on the ground of it being raised for the first time.

ince the Assessing Officer has not evaluated the appellant’s claim regarding non-taxability of income arising from write-off of liability by Canara Bank in its favour amounting to Rs. 1,

Please become a Premium member. If you are already a Premium member, login here to access the full content.