ITAT Surat Allows Expense Linked to Settled Dues Despite No Business Income 

DCIT Vs ABS Exports (ITAT Surat) In this case, the Revenue filed an appeal against the order of the Commissioner of Income Tax (Appeals)-4, Surat, concerning Assessment Year 2018–19. The core issue revolved around the deletion of a disallowance of expenses amounting to ₹2,30,57,897 under Section 37 of the Income Tax Act, 1961. The assessee had filed its return declaring nil income and a loss of ₹1,17,59,363. The case was selected for limited scrutiny, and the Assessing Officer completed the assessment under Section 143(3), determining total income at ₹1,12,98,530 after disallowing the ...