Loading ITAT cases…
2 orders · Page 1 of 1
The Tribunal held that the Revenue's appeal was not maintainable due to the low tax effect and dismissed it as withdrawn. The Tribunal also held that the assessee's cross-objection against the consequential order of the AO was not maintainable without first approaching the CIT(A).
The Tribunal held that while the AO had called for details of bank loans, the assessment order did not reflect an application of mind to the material provided. Therefore, the order was erroneous and prejudicial to the revenue.