The dispute arose from CPC denial of deduction due to late return filing. The Tribunal restored the matter, holding that the Assessing Officer must act based on the CCIT’s condonation decision.
The ITAT held that additions based on survey material cannot be sustained without proper opportunity of hearing. The matter was remitted for fresh adjudication after finding violation of natural justice.
The issue was whether revision could be invoked for allowing LTCG exemption on sale of investments. The Tribunal held that since the Assessing Officer examined the claim, the order was not erroneous or prejudicial.
The tribunal examined whether gold jewellery seized during police interception could be taxed as unexplained solely based on a statement recorded under enquiry. It held that additions fail where later evidence shows the assessment relied on weak corroboration and inconsistent reasoning.
The issue was whether a notice dated 31-03-2021 but digitally signed on 01-04-2021 was valid. The ITAT held the notice was issued under the new regime without following section 148A, rendering reassessment void.
The case examined whether reassessment proceedings could survive when issued outside the faceless mechanism. The ruling confirms that non-compliance with the faceless scheme is a fatal jurisdictional defect.
The issue concerned massive additions made in an ex-parte assessment due to alleged unexplained share transactions. The Tribunal held that such issues require proper factual verification and remanded the case for fresh adjudication.
The trust sought exemption by invoking later registration under section 12AA. The tribunal ruled that exemption cannot be granted retrospectively through section 154 when no assessment was pending on the registration date.
The assessee demonstrated that the ₹1.03 crore cash deposit arose from opening cash balance and collections from sundry debtors. The Tribunal held that the onus stood discharged and deleted the entire addition.
ITAT held that CPC cannot increase dividend income based on Schedule BP entries, restricting taxable dividend to the amount correctly disclosed in the return and upholding section 115BBDA exemption.
