Business Expenditure

Income Tax

ITAT Deletes Disallowance on OYO’s Assured Margin Payments, Holds Them Revenue Expenditure | Biz Flow Kit
Byadmin June 7, 2026

ITAT Deletes Disallowance on OYO’s Assured Margin Payments, Holds Them Revenue Expenditure The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently upheld the deletion of a disallowance made in the case of OYO Hotels and Homes Private Limited for AY 2021-22. During scrutiny proceedings, the Assessing Officer treated the assured margin and minimum…

Read More ITAT Deletes Disallowance on OYO’s Assured Margin Payments, Holds Them Revenue Expenditure | Biz Flow Kit
Income Tax

ITAT Quashes Assessment for Invalid Section 143(2) Notice; Grants Multiple Reliefs to Assessee | Biz Flow Kit
Byadmin April 19, 2026

ITAT Quashes Assessment for Invalid Section 143(2) Notice; Grants Multiple Reliefs to Assessee The assessee, ABC India Limited, filed its return declaring a loss for AY 2022-23, which was selected for scrutiny under CASS. The Assessing Officer completed the assessment under Section 143(3) read with Section 144B, making multiple additions, including capital gains on the…

Read More ITAT Quashes Assessment for Invalid Section 143(2) Notice; Grants Multiple Reliefs to Assessee | Biz Flow Kit
Income Tax

Loan Write Off To Subsidiary Disallowed For Lack Of Commercial Prudence | Biz Flow Kit
Byadmin March 10, 2026

ITAT: Loan Write Off To Subsidiary Disallowed For Lack Of Commercial Prudence The appellant, Matrix Clothing Pvt. Ltd., is a company engaged in the manufacturing and trading of garments and the generation of power through windmills. For the Assessment Year 2021-22, the company claimed a massive deduction of Rs. 53.24 crore as a “write-off” of…

Read More Loan Write Off To Subsidiary Disallowed For Lack Of Commercial Prudence | Biz Flow Kit