Income earned from sanitation, gardening, and waste management contracts was treated as charitable. The tribunal held such receipts furthered environmental objects under Section 2(15).
Cash deposits during demonetisation were treated as unexplained as no genuine business need for holding large idle cash was shown. The tribunal upheld the Section 68 addition, stressing proof of necessity and cash retention.
While following binding High Court precedent on limitation, the Tribunal quashed the assessment order. Liberty was granted to revive the matter depending on the Supreme Court’s final decision.
Relying on jurisdictional High Court precedent, the Tribunal ruled that penalty is unsustainable when additions are based on estimation. The decision reinforces limits on penalty in such cases.
The ruling addressed conflicts between documentary proof of loans and third-party allegations of accommodation entries. The Tribunal held that unsupported allegations cannot override evidence establishing genuine loan transactions.
The case addressed addition of a large gift treated as unexplained cash credit. The Tribunal remanded the matter after admitting additional evidence showing the donor’s identity, relationship, and financial capacity.
The Tribunal set aside an appellate order confirming a ₹1.38 crore addition after finding that it lacked merit-based reasoning. The case was remanded for fresh adjudication with a speaking order.
The case involved a penalty for alleged non-disclosure of a foreign bank account. The Tribunal held that ambiguity regarding linked currency accounts required fresh verification before sustaining the penalty.
ITAT Chennai held that reassessment notice under section 148 of the Income Tax Act issued with approval of the Member of CBDT instead of Pr. CCIT is void and invalid. Accordingly, order passed under section 147 is without legal standing and hence quashed.
The Tribunal found that the assessee was not questioned on stamp duty valuation and old payment sources. It remanded the case for fresh assessment with directions to consider explanations afresh.
