The issue was whether an appeal involving large additions could be dismissed solely for delay without examining merits. The Tribunal held that technical dismissal was improper and ordered remand with costs. Key takeaway: meritorious matters should be decided on merits, not limitation alone.
The addition was based on suspicion arising from third-party misconduct. The Tribunal reiterated that income tax additions cannot rest on presumptions alone.
The assessment relied on investigation reports without examining the alleged entry provider. The Tribunal held that cross-verification is essential before sustaining additions under section 68.
The Tribunal reaffirmed that reassessment cannot be based on re-appreciation of facts already scrutinized earlier. Without failure of disclosure, invoking Section 147 beyond four years was invalid.
The assessing authority made a large addition without explaining its nature or legal basis. The Tribunal ruled that such a cryptic order cannot stand and set aside the addition.
The issue was whether settled losses could be ignored in a search assessment without incriminating material. The Tribunal held that the AO must start from the last assessed income and allow already determined losses.
The issue was whether reassessment can stand on an unsigned notice under Section 148. ITAT held that an unsigned notice confers no jurisdiction, rendering the reassessment void ab initio.
The Tribunal held that reopening based only on generalized information about a scrip, without independent inquiry or linkage to the taxpayer, is invalid. Entire addition on alleged bogus LTCG was deleted.
The Tribunal ruled that statutory urban development functions do not amount to trade or business. Fees and grants received under statutory mandate were held eligible for exemption.
The issue was whether cash deposited during demonetisation could be treated as unexplained. The Tribunal held that when sales are supported by available stock and recorded books, cash receipts from such sales cannot be added under Section 68.
