ITAT Hyderabad Deletes CPC Adjustments – Double Disallowance & Wrong 43B Addition Quashed

Caspian Impact Investments Private Ltd Vs DCIT (ITAT Hyderabad) Assessee, engaged in impact investment activities, originally filed ROI on 30.10.2019 declaring ₹10.76 crore under normal provisions & ₹11.28 crore u/s 115JB. After NCLT-approved demerger of debt division from Caspian Impact Investment Advisors Pvt. Ltd., a second revised ROI was filed on 30.09.2020 declaring ₹8.58 crore under normal provisions & ₹8.42 crore u/s 115JB. CPC processed return u/s 143(1)(a) on 09.03.2021, making three adjustments – ₹1.64 lakh u/s 36(1)(iii), ₹13.22 lakh u/s 37(1) & ₹10.41 l...