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No stay of demand by ITAT beyond 365 days after insertion of third proviso to sec. 254(2A)

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Posted onon May 8, 2014

Tenet Tax Daily May 08 2014

By tenettax-team
Corporate Tax

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AO couldn’t presume understatement of income merely on basis of report of DVO; HC quashed reassessment
ITAT remanded case to examine allowability of development exp. to real estate developer in view of AS-7 and IT Act

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