The Tribunal sent the issue of deduction for political donations back to the Assessing Officer after finding that bank transaction details had not been properly verified. Fresh adjudication was directed after giving the assessee an opportunity of hearing.
The Tribunal held that a trust’s application for regular registration could not be rejected solely because the wrong clause was selected in the prescribed form. It directed the authority to treat the application under the correct provision and decide it on merits.
The case involved additions for alleged on-money in Godhavi land transactions based on a handwritten loose sheet. The Tribunal restored the matter for fresh consideration, highlighting issues relating to evidence and assessment findings.
The ITAT held that leave encashment of ₹7.65 lakh was fully exempt as it fell within the revised ₹25 lakh ceiling under Notification No. 31/2023. The disallowance made by the lower authorities was deleted.
The ITAT allowed exemption of ₹15.93 lakh towards leave encashment after applying the revised ₹25 lakh ceiling under Notification No. 31/2023. The tax demand raised by the CPC was deleted.
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 ITAT Ahmedabad held that demonetisation-related cash deposits cannot be treated as unexplained money merely on suspicion when sales are properly recorded in books. The Tribunal upheld deletion of ₹2.35 crore addition due to absence of defects in evidence.
The ITAT Ahmedabad held that a bona fide error in selecting the incorrect clause in a Section 12A application cannot be the sole reason for rejecting registration. The matter was remanded to the CIT(E) for fresh consideration on merits.
The ITAT Ahmedabad ruled that expenditure incurred on an abandoned wind power project in the same line of business was revenue in nature since no enduring asset was created. However, the issue was remanded to the AO for verification of supporting evidence.
ITAT Ahmedabad held that outstanding sundry creditors could not be treated as unexplained cash credits when the assessee demonstrated subsequent repayment through banking transactions. The Tribunal found the Revenue’s partial acceptance of the same transactions inconsistent.
