ITAT Delhi ruled that CIT(E) cannot evaluate the merit of charitable activities when granting 12AB/80G registration, restoring the trust’s exemptions. Procedural overreach by tax authorities cannot deny valid registration.
ITAT Delhi ruled that a sub-broker’s turnover includes only brokerage income, not total client transactions, and deleted ₹1.5 lakh penalty under Section 271B.
The Tribunal held that purchases cannot be fully disallowed merely on suspicion and supplier deficiencies. The issue was remanded for fresh verification in light of GST findings.
ITAT allowed condonation of a 321-day delay in appeal filing, emphasizing procedural fairness when assessment orders are delivered electronically.
The guidance highlights that mismatches in turnover, ITC, or tax liability between books and returns can trigger audits and demands.
The FAQs hold that annual GST returns are final, non-revisable statements that often become the basis for audits and investigations.
The issue was whether higher depreciation on goods carriage vehicles could be disallowed during return processing. The Tribunal held that such debatable claims need scrutiny and cannot be adjusted under section 143(1).
The ITAT held that depreciation cannot be disallowed when ownership, usage, and actual cost of assets are undisputed. Mere suspicion about the source of funds is insufficient to deny statutory depreciation.
The issue was whether interest on INR-denominated CCDs should be benchmarked using LIBOR or domestic rates. The Tribunal held that PLR applies, rendering the transfer pricing adjustment unsustainable.
The issue was whether a short delay in filing an appeal justified outright dismissal. The Tribunal held that illness supported by medical evidence constituted reasonable cause and restored the appeal for merits adjudication.
