ITAT Pune held that assessee was engaged in livestock transport on commission basis and not in trading, directing AO to apply 1.5% profit rate instead of 8% estimated earlier.
ITAT restricted the addition under Section 56(2)(vii)(b) to 50% on a jointly purchased property, preventing double addition as the co-owner was already taxed on the balance.
ITAT restored a disallowance of ₹18.76 Cr under Section 40(a)(ia) for non-deduction of TDS u/s 194Q to CIT(A), granting assessee a fresh opportunity. Mumbai ITAT remanded a tax appeal concerning substantial business purchases, directing CIT(A) to hear assessee on merits for non-compliance.
Chhattisgarh HC directs GST Intelligence to avoid coercive action against a taxpayer in a fake ITC investigation, provided the taxpayer cooperates with the inquiry.
Reversing lower authorities, ITAT Ahmedabad ruled that the assessee proved genuineness of loans and interest payments, allowing deduction under Section 57 of the Income Tax Act.
NCLAT directed liquidation of corporate debtor after Committee of Creditors rejected sole resolution plan as being below liquidation value and commercially unviable.
Tribunal held that the Commissioner (Appeals) erred in deciding classification without first addressing limitation under Section 129D(3) of the Customs Act, and remanded the case for fresh consideration on the time-bar issue alone.
ITAT Delhi remanded the case for re-examination of foreign remittances from Russia, directing the Assessing Officer to verify if the receipts were genuine trade receivables amid allegations of over-invoiced exports.
The Madras High Court directed the Customs Department to provisionally release second-hand Digital Multifunction Printers (MFDs) despite the department’s objection regarding environmental clearance. The release is subject to final customs adjudication.
The ITAT set aside the rejection of Life Eternal Trusts 80G registration and remanded the case to re-evaluate if the trusts religious expenses exceeded the 5% limit. The Tribunal instructed the CIT to consider the trust’s new evidence on expense miscategorization.
