The ITAT held that without pinpointing specific defects in books or vouchers, an arbitrary ₹50 lakh disallowance cannot stand. The ruling confirms that estimation cannot replace factual verification.
The Tribunal held that the assessee cannot be penalised for mistakes of his CA and condoned a two-year delay. The matter was remanded for de novo assessment, reaffirming natural justice principles.
A genuine FTC claim of ₹1.03 crore was partly disallowed due to a technical placement error in Form 67. The Tribunal restored the claim and sent it to the AO for verification and proper allowance.
ITAT held that cash sales forming part of disclosed turnover cannot be taxed again as unexplained cash credits. The ruling confirms that Section 68 does not apply when books are intact and evidence supports the sales.
Evidence demonstrated frequent withdrawals and redeposits across years, confirming the legitimacy of the cash held. The Tribunal ruled that the deposits were fully explained, warranting removal of the Section 69A/115BBE addition.
ITAT held that the assessee operated as a commission agent, not a trader, making Section 44AD inapplicable. A reasonable 5% estimation on cash deposits was upheld.
The ITAT ruled that unresolved legal grounds—especially on reassessment validity—must first be decided by the CIT(A). The ₹3.32 crore Section 69A addition is remanded for proper adjudication.
The Tribunal held that the AO found no fabricated or false documents for agricultural or tuition income. Since evidence existed but was incomplete, ITAT applied a 10% estimate and cut the addition drastically.
ITAT Ahmedabad rules that a charitable trust’s exemption under Sections 11 and 12 cannot be denied due to a technical mismatch in reporting new 12AB registration in the ITR. The substantive validity of the original 12A registration ensures continuity of exemption.
ITAT confirmed Rs.2.92 crore long-term capital gain as the assessee failed to prove that the land sold was used for agriculture, sustaining the AO’s and CIT(A)’s orders.
