ITAT ruled that the AO’s omission to apply TDS provisions on freight charges warrants revision. Proper application of statutory disallowances is mandatory in reassessment proceedings.
The issue was whether a penalty can survive when the notice does not specify the exact charge. The Tribunal held that a vague notice vitiates the entire penalty proceedings, even where AMT liability exists.
The Tribunal found that key evidences furnished by the assessee were not adequately considered by lower authorities. The issue was restored to ensure fair examination and compliance with natural justice.
The issue was whether personal capital could be compared with partnership capital to infer unexplained credits. The Tribunal held the comparison flawed and upheld deletion of the Section 68 addition.
The Tribunal ruled that penalty under Section 270A cannot stand where income is enhanced purely by estimation. Additions made by applying a higher profit rate, without incriminating material, fall outside under-reporting.
ITAT ruled that principal amounts in accommodation share entries do not constitute income of a conduit entity. Taxability is restricted to the commission earned for facilitating such transactions.
The Supreme Court held that a trade restriction cannot bind importers unless published in the Official Gazette. Website uploads or internal circulation do not give a notification legal effect.
The issue was whether DRP cases escape the outer limitation under section 153. The Tribunal held that section 153 continues to apply and quashed the assessment as time-barred.
This case addressed the allowability of commission paid to non-resident agents without TDS. The Tribunal held that since the income was not chargeable to tax in India and agents had no PE, Section 40(a)(i) could not be invoked.
The issue was whether an assessment is valid when notice under Section 143(2) is issued by an officer lacking pecuniary jurisdiction. The Tribunal held such notice invalid and quashed the assessment as void ab initio.
