ITAT held that a registered sale deed without corroborative evidence is not incriminating material and cannot support additions in Section 153A proceedings.
ITAT held that business profit already disclosed in the income tax return cannot be added again as undisclosed income. The duplicate addition was deleted.
ITAT held that the Commissioner must assess the genuineness of activities and charitable objects instead of rejecting registration solely for the absence of an irrevocability clause.
ITAT Delhi held that IT, salary and travel reimbursements without any profit element were not taxable and deleted the disallowance under Section 40(a)(i).
ITAT Delhi held that documentary evidence established receipt of intra-group administrative support services and that the 5% markup was at arm’s length. The transfer pricing adjustment was accordingly deleted.
ITAT deleted Section 68 additions after finding that the assessee established investor identity, creditworthiness and transaction genuineness with documentary evidence.
ITAT deleted the ₹75 lakh capital gains addition after holding the Revenue failed to produce conclusive evidence proving any property sale.
ITAT held that multiplying a seized figure without supporting evidence was unjustified and restricted the Section 69 addition to the actual amount recorded.
ITAT held that identical LTCL claims for co-owners of the same property cannot receive conflicting tax treatment and allowed the loss claim.
ITAT held a composite satisfaction note without year-wise incriminating material invalid under Section 153C and quashed the assessment order.
