TAT considered detailed submissions, including third-party confirmations and supporting documents such as income tax returns of lenders and certificates of interest. It concluded that the nexus between the income and expenses was well established, making the disallowance unsustainable.
ITAT Kolkata upholds disallowance of short-term capital loss adjustment for previous AY but deletes penalty due to lack of evidence of intentional wrongdoing.
ITAT Ahmedabad allows Pankajkumar Patel’s appeal for statistical purposes, remanding unexplained investment case to AO for reconsideration under Section 69A.
Summary of appeal challenging CIT(A) order on income tax assessment for AY 2013-14. Key issues include Section 147 validity and profit estimation.
ITAT Delhi remits Vinod Kumar Garg’s 2012-13 tax assessment case back to AO for reevaluation. Key issues include unexplained investments and procedural lapses.
ITAT Ahmedabad narrows PCIT’s directions under Section 263 in Vimal Agarwal’s tax case for AY 2014-15, limiting inquiry to commission on ₹92 lakh entry.
Kerala High Court quashes ₹9.4 crore GST penalty for denying cross-examination, emphasizing natural justice. Case highlights procedural lapses under GST law.
ITAT Delhi allows appeal against disallowance of contingent liabilities under Section 37, ruling no expenses were claimed in P&L Account for AY 2021-22.
Summary of an appeal against a CIT(A) order confirming additions under Section 69A for AY 2017-18. Directions issued for de-novo proceedings.
ITAT Ahmedabad remands Bholaram Education Society’s tax appeal for fresh hearing after procedural lapses in notices and portal access issues.
