ITAT Quashes Disallowance; AO’s Contradictory Approach Invalidates Sec 154 Jurisdiction

Dosti Realty Limited Vs DCIT (ITAT Mumbai) ITAT Mumbai Nullifies ₹2.06 Crore Expense Disallowance in Dosti Realty Case, Citing Contradictory AO Approach The Income Tax Appellate Tribunal (ITAT), Mumbai bench, has allowed the appeal of Dosti Realty Limited against the order of the National Faceless Assessment Centre (NFAC), New Delhi, for the Assessment Year (A.Y.) 2014-15. The core of the dispute centered on the validity of jurisdiction invoked under Section 154 of the Income Tax Act, 1961 (the Act), and the merits of disallowing an expense of Rs. 2,06,50,000/- claimed as a provision for exp...