ITAT held that cash sales forming part of disclosed turnover cannot be taxed again as unexplained cash credits. The ruling confirms that Section 68 does not apply when books are intact and evidence supports the sales.
The Court restored a trader’s cancelled GST registration, accepting medical difficulties and a dispute with the Chartered Accountant as valid grounds. It directed issuance of login credentials and permitted late filing of returns with associated dues.
Evidence demonstrated frequent withdrawals and redeposits across years, confirming the legitimacy of the cash held. The Tribunal ruled that the deposits were fully explained, warranting removal of the Section 69A/115BBE addition.
ITAT held that the assessee operated as a commission agent, not a trader, making Section 44AD inapplicable. A reasonable 5% estimation on cash deposits was upheld.
The Court set aside the service tax appellate order, holding that the issue must be reconsidered from the show-cause stage, with the petitioner allowed to file a fresh reply.
The ITAT ruled that unresolved legal grounds—especially on reassessment validity—must first be decided by the CIT(A). The ₹3.32 crore Section 69A addition is remanded for proper adjudication.
The ITAT upheld the deletion of a ₹305.49 crore penalty imposed on a bank, ruling that section 115JB (MAT) does not apply to banks under the Banking Regulation Act. The decision emphasizes that penalties linked to inapplicable provisions cannot be sustained.
The High Court ruled that entry tax applies to goods brought into Rajasthan and transferred out after six months. Rule 12(3) of RET Rules was applied in conjunction with Section 3 of the RET Act.
It’s a fact that Tier-3 towns have lower insurance coverage than big cities. People in towns are not usually financially aware and are not exposed to formal insurance products. Physical distribution here is also poor: the company has fewer branches and trained agents to assist in buying and claims.
The Tribunal held that the AO found no fabricated or false documents for agricultural or tuition income. Since evidence existed but was incomplete, ITAT applied a 10% estimate and cut the addition drastically.
