The Tribunal held that payment towards traffic violation is hit by Explanation 1 to Section 37(1) and not deductible. Though books were rightly rejected, estimation at 8% was moderated to 5% in the interest of justice.
The Tribunal deleted the addition sustained by the CIT(A) as it was based solely on digital data found from a third party. It reiterated that suspicion or extrapolation without direct evidence cannot sustain tax additions.
The Tribunal held that mere transfer of funds to a state undertaking does not shift statutory TDS liability. Without proof of lawful discharge of TDS, penalty was sustained
The Tribunal held that denial of India–USA DTAA rates during processing under Section 143(1) was unjustified. It observed that Form 10F facilitates verification and does not create the right, making delayed compliance curable.
The law taxes the annual value of property based on ownership, not just actual rent received. Even vacant or self-occupied properties can attract tax under Section 22, reflecting their earning potential.
ITAT clarified that a statement recorded during search does not automatically become incriminating material. Without supporting documentary evidence, additions under Section 69A cannot survive.
A comprehensive analysis of ITC under GST, covering statutory conditions, blocked credits, supplier default issues, and landmark judicial interpretations shaping taxpayer rights.
The Tribunal emphasized that documentary evidence including bank statements and lender confirmations sufficiently explained the disputed credits. It held that no addition for unexplained money was warranted.
The Supreme Court set aside a High Court order reducing a three-year jail sentence in an attempt-to-murder case, holding that compensation cannot substitute custodial punishment. It stressed proportional sentencing and deterrence.
While condoning procedural delay, the Tribunal emphasized fairness and allowed substantial relief in a capital gains computation dispute. It directed recalculation of indexed cost after permitting 80% of claimed improvement expenses.
