Chennai ITAT held that the enhanced leave encashment exemption limit of Rs.25 lakh under CBDT Notification No.31/2023 applies retrospectively to pending matters. The Tribunal ruled that the amendment was remedial and intended to remove hardship for non-government employees.
Tribunal ruled that market value for captive power consumption must be based on the tariff charged to industrial consumers by TNEB while computing deduction under Section 80IA.
ITAT Indore held that delayed filing of Form 10E due to Covid-19 related circumstances should not automatically deny substantive relief under Section 89 if the assessee is otherwise eligible.
Tribunal directed inclusion of Cyber Media Research Limited after finding that market research and consultancy services were comparable to the assessee’s support service activities. Earlier Tribunal rulings supporting comparability were followed.
The Delhi ITAT deleted addition made under Section 68 on alleged bogus purchases linked to accommodation entry providers. The Tribunal held that purchases and corresponding sales were already recorded in the books, leaving no basis for separate addition under Section 68.
The Tribunal held that reassessment proceedings initiated against a deceased person are void ab initio. Since the department had prior knowledge of the death, failure to issue notice to the legal heir made the assessment invalid.
Ahmedabad ITAT held that cost of improvement could not be disallowed solely because suppliers’ VAT registrations were later cancelled retrospectively. The Tribunal remanded the matter for verification of supporting purchase and transportation documents.
The Tribunal noted that an adjustment under Section 35(1)(iv), already dropped during CPC processing, was later included in assessment computation without fresh notice to the assessee.
Mumbai ITAT held that disallowance under Section 40(a)(ia) cannot be made where expenditure remains part of work-in-progress and is not claimed in the profit and loss account. The Tribunal upheld adjustment of WIP instead of direct addition to income.
Agra ITAT held that the bank was liable under Section 201 for non-deduction of TDS on LFC involving foreign travel because no branch-specific interim judicial order was produced. The Tribunal distinguished earlier rulings that had granted relief based on specific High Court directions.
