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HomeDirect TaxITAT Deletes CPC Adjustments on Fixed Asset Loss and S. 43B Disallowance

ITAT Deletes CPC Adjustments on Fixed Asset Loss and S. 43B Disallowance

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By Mariya Paliwala
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The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has deleted adjustments made by the Central Processing Centre (CPC) relating to loss on sale of fixed assets and disallowance under Section 43B(f), holding that both additions arose due to reporting and reconciliation issues rather than substantive tax defaults. The bench of Rajpal Yadav (Vice…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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