The issue was whether the appellate order properly dealt with bogus purchase additions. ITAT held that a non-speaking NFAC order violating section 250(6) must be set aside.
The issue was whether depreciation can be claimed on BOT road projects. ITAT upheld depreciation, rejecting mere amortisation under the CBDT circular.
The issue was whether TDS credit can be denied when interest income is adjusted against capital work-in-progress. ITAT held that once income is indirectly recognised by reducing CWIP, corresponding TDS credit cannot be refused.
The Tribunal held that solar power generation under a CSR structure is not charitable when the dominant benefit accrues to a single corporate entity. The environmental activity must primarily benefit the public to qualify for Section 12AB registration.
The issue was whether common and ritualistic approval under section 153D can sustain search assessments. ITAT held that mechanical approval without independent application of mind vitiates the entire proceedings.
The High Court quashed reassessment proceedings initiated after the company had already been liquidated by NCLT, holding such action legally unsustainable.
The High Court held that exemption under Section 11 cannot be denied merely because Form 10 was filed belatedly. The key takeaway is that substantive tax benefits for charitable trusts prevail over procedural lapses.
The issue was whether a reassessment notice issued after 31.03.2021 for AY 2014-15 was within limitation. ITAT held the notice time-barred in light of the Supreme Court’s Rajeev Bansal ruling and quashed the entire reassessment.
The High Court suspended the jail sentence in a tax offence case during pendency of revision. The key takeaway is that substantial grounds in revision justify interim relief.
It was ruled that a reassessment notice issued after expiry of the extended limitation is void. The takeaway is that delayed action under the new reassessment regime is fatal.
