ITAT ruled that personal savings account credits require proof of business nexus before being treated as turnover. The income addition and penalties were deleted.
ITAT held the Section 271D penalty was time-barred under Section 275(1)(c) as it was imposed after the prescribed limitation period.
ITAT held that penalty under Section 271D cannot survive where the Assessing Officer failed to record satisfaction in the assessment order.
ITAT held that penalty under Section 271D is invalid where the Assessing Officer failed to record satisfaction in the assessment order.
ITAT held that penalty under Section 271D cannot survive where the Assessing Officer failed to record satisfaction in the assessment order.
ITAT Surat held that absence of satisfaction in the assessment order invalidated the Section 271D penalty, following the Supreme Court’s ruling.
ITAT held that delayed filing of Form 67 is a procedural lapse and directed the AO to grant foreign tax credit claimed under Section 90.
ITAT held that GST refund is not taxable where the tax component was never claimed as expenditure and was recorded as a receivable.
ITAT deleted additions after finding the AO relied only on ACB information without independent inquiry or supporting evidence. ITAT deleted additions after holding that estimated marriage expenses and FDR investment were unsupported by evidence and explanations remained unchallenged.
ITAT Delhi held that assessments under Section 153C were without jurisdiction as the satisfaction note was recorded after the Finance Act, 2021 amendment. All six assessment orders were quashed.
