ITAT Delhi held that for an unabated year, additions under section 153A require incriminating material. A seized loose sheet and retracted statements lacked corroboration, leading to deletion of the ₹100 crore addition.
The Tribunal held that dispatch records alone do not establish valid service of intimation under section 143(1). Rectification under section 154 must be considered on merits where service is disputed.
The ITAT ruled that taxing section 28 interest as income from other sources through rectification was invalid. Where the issue is debatable and supported by binding precedent, section 154 cannot be invoked.
The issue was whether section 68 additions could survive when loans were already repaid. The Tribunal held that once the assessee is no longer a beneficiary, such additions are unsustainable.
The tribunal held that revision under Section 263 is invalid where the Assessing Officer has examined the issue and adopted a plausible legal view. The PCIT cannot substitute his opinion merely because another interpretation is possible.
The tribunal ruled that statements of third parties cannot be relied upon unless the assessee is provided copies and allowed cross-examination. Denial of this right renders the additions legally untenable.
The Tribunal confirmed deletion of additions where the AO made no effort to verify consignees, transporters, or stock movement. Proper documentation and bank-received sale proceeds proved transaction genuineness.
The issue was whether section 68 could be invoked for alleged on-money payments absent direct evidence. The Tribunal ruled that in the absence of corroborative material, the addition must be deleted.
The issue was whether the full value of alleged bogus purchases could be added to income. The Tribunal upheld that only the profit element embedded in such purchases is taxable, not the entire purchase value.
The issue was whether a reassessment could be framed in the name of a company that had ceased to exist due to amalgamation. ITAT held such an assessment void ab initio, quashing the entire proceedings.
