Tag Archives: Manohar Reddy Basani v. Income Tax Office

Exemption to be allowed even if not claimed in Income Tax return : HYDERABAD ITAT

By | September 2, 2018

Hon’ble Madras High Court, in the case of CIT v. Indian Express (Madurai) (P.) Ltd. [1983]140 ITR 705 at page 722, observed that unlike a law suit in civil appeals, in tax litigation, it cannot be treated as a “lis” between two rival parties but the job of the Assessing Officer is to arrive at the correct taxable income. Therefore,… Read More »