The Tribunal emphasized that registration decisions must consider all relevant evidence. Mechanical rejection without full appraisal was held unsustainable.
Unexplained cash deposits and rent discrepancies led to rejection of books under section 145(3). However, the Tribunal held that estimating profits at 1% was excessive and moderated it to 0.50%.
he Tribunal held that unsecured loans could not be treated as unexplained cash credits when identity, creditworthiness, and genuineness were duly proved. Consistency with earlier rulings involving the same lenders led to deletion of the addition.
The Tribunal held that section 56(2)(vii)(b) applies automatically when stamp value exceeds purchase price. However, it remanded the matter for DVO valuation to ensure fair determination of market value.
The dispute concerned enhancement of house property income based on an unsigned lease found during search. The Tribunal held that such a document has no evidentiary value and cannot support additions.
The Tribunal held that cash deposits reflecting routine business transactions cannot be treated wholly as unexplained income. Only the profit element embedded in such receipts is taxable.
The tax authorities disallowed Bhandara expenses assuming a religious character without concrete evidence. The Tribunal held that mere suspicion cannot override the accepted fact of food being provided to the needy.
NCLAT Delhi held that each and every commercial transaction which has resulted in loss may not be labelled as fraudulent or to have been done to deceive creditors. Accordingly, since ingredients of section 66(2) of IBC is lacking, the transaction cannot be labelled as fraudulent.
Since the reassessment itself was quashed, the addition treating long-term capital gains as unexplained cash credit under section 68 automatically failed. Jurisdictional defects were fatal to the assessment.
The Tribunal ruled that maintaining a temple or holding festivals does not disqualify a trust if substantial funds are spent on public welfare. Authorities must examine actual expenditure patterns, not assumptions.
