The Supreme Court held that compensatory allowances form part of “ordinary wages” for overtime calculation. Executive circulars cannot override the clear mandate of Section 59(2).
The Tribunal held that estimating commission income without corroborative evidence is unsustainable. Audited accounts and consistent interest income showed genuine business activity, leading to deletion of the addition.
The Assessing Officer made an ALP adjustment on interest despite the assessee having already added back the full amount under thin capitalization rules. The Tribunal ruled that TP provisions cannot be applied where no expenditure is claimed.
Alleged additions for suppressed sales, disallowances, and capital gains were rendered void once the revision order was quashed. The case underscores the doctrine of consequential invalidity.
The ITAT held that assessments framed beyond the permissible ten-year block under Section 153C are without jurisdiction. Since the satisfaction note fixed the deemed search year later, earlier years were invalidly assessed.
The Tribunal ruled that absence of DIN on Section 143(2) notices vitiates jurisdiction under Section 147. All reassessment orders were quashed as legally unsustainable.
The Tribunal directed normal taxation, holding that Section 115BBE could not be invoked for the year involved. This reinforces the prospective operation of the higher tax regime.
The Tribunal held that a notice under Section 143(2) issued by a non-jurisdictional officer vitiates the entire assessment. In the absence of a valid jurisdictional transfer, the reassessment was declared non-est in law.
The ruling confirms that Section 14A cannot be invoked mechanically without actual expenditure linked to exempt income. Growth mutual funds earning taxable gains fall outside its scope.
The Tribunal held that compensation received for unauthorised occupation merely substitutes lost rent. Since the property remained intact, the receipt was taxable as revenue income under Section 23(1).
