The ITAT held that jewellery tag prices in internal software cannot be equated with realised sales, deleting GP additions made without evidence of suppression.
ITAT held that entire cash deposits of a business correspondent cannot be treated as unexplained income without verification. The AO must examine whether deposits were bank collections or the assessee’s own money.
The ITAT invalidated an assessment for AY 2008-09 after the AO failed to issue a mandatory draft order under section 144C during remand proceedings, highlighting procedural compliance in transfer pricing cases.
The ITAT ruled that an addition under section 68 cannot be sustained solely on a retracted statement of a third party, deleting ₹81 lakh share capital added to income.
The Tribunal ruled that a car financed partly through unexplained cash could be attached under PMLA, even though a bank held a secured interest, reinforcing that tainted funds justify attachment.
Supreme Court ruled that compassionate appointments are concessions, not rights. Once a dependent accepts a post, claims for higher posts are barred to prevent endless compassion.
Delhi High Court held that reassessment notices must be individually evaluated for surviving limitation. AO directed to re-compute limitation under Rajeev Bansal framework before deciding validity.
Delhi appellate authority’s ex-parte confirmation of unexplained money under Section 69A was set aside. ITAT directed CIT(A)/NFAC to adjudicate afresh, granting one final hearing opportunity.
Supreme Court dismissed compensation appeals, holding that accident occurrence alone cannot establish liability. Claimants failed to prove involvement of the offending vehicle or rash driving.
ITAT held that failure to claim TDS credit in the return is only a procedural lapse. Once TDS is reflected in Form 26AS, credit must be granted after verifying corresponding income.
