The Tribunal held that TDS credit cannot be restricted solely due to differences between reported turnover and Form 26AS if the assessee has correctly offered the income for tax. The appeal was allowed, directing the AO to grant full TDS credit.
Tribunal held that assessment proceedings were invalid as notices were sent to a non-functional email ID, denying assessee a fair hearing. Case remanded for fresh adjudication.
ITAT held that the Assessing Officer made a ₹50 lakh addition solely on estimation without any supporting material, and deleted the addition as no evidence linked the assessee to alleged bogus share transactions.
ITAT Delhi held that reassessment for AY 2010-11 was invalid since it exceeded the ten-year limitation from the search year. The notice was declared time-barred and issued without jurisdiction.
TAT Delhi held that a 153C assessment for AY 2012–13 was invalid, as the six-year block must be counted from date of satisfaction recorded by AO of non-searched person.
ITAT Delhi held that ten-year block under Section 153C must be computed from date AO of non-searched person receives seized material, not search date.
ITAT held that no addition under Section 69A was justified when the jewellery found during search was less than the amount already declared in wealth tax returns. Revenue’s appeal was dismissed.
ITAT Mumbai held that TDS need not be deducted on year-end expense provisions where payees are unidentifiable and liability crystallizes later. Case remanded for factual verification.
ITAT Mumbai held that consideration from a redevelopment agreement is taxable in hands of individual members, not co-operative housing society. Tribunal upheld CIT(A)’s deletion of ₹4.97 crore addition, confirming that society acted merely as a representative.
ITAT held that once income is accounted in the Profit & Loss statement, further addition by the tax authority is unlawful. The order restores the correct claim of losses and eliminates double addition.
