The Tribunal emphasized that documentary evidence including bank statements and lender confirmations sufficiently explained the disputed credits. It held that no addition for unexplained money was warranted.
While condoning procedural delay, the Tribunal emphasized fairness and allowed substantial relief in a capital gains computation dispute. It directed recalculation of indexed cost after permitting 80% of claimed improvement expenses.
The Tribunal held that when sales are undisputed and books of account remain intact, purchase additions require stronger evidence. In the absence of contrary material, the ₹35.48 lakh disallowance was deleted.
Although stamp law generally places registration costs on buyers, the Tribunal held that parties may contract otherwise. Since the sale deed clearly assigned the burden to the seller, the ₹5.47 lakh disallowance was deleted.
The Tribunal reversed additions made towards alleged suppressed rent and bogus salary expenses. It emphasized factual consistency, business necessity, and absence of tax avoidance in granting relief to the assessee.
Tribunal ruled that promotional scheme expenses were properly accrued and supported by evidence. Disallowance of ₹16.22 lakh was deleted, allowing assessee’s appeal.
The Tribunal held that additions for cash deposits and property purchase were sustained without considering key bank records. The matter was sent back for fresh verification.
The Tribunal held that additions made by treating real estate receipts as capital gains required fresh verification. The case was remanded as the earlier order failed to examine the assessee’s claim of business income under section 44AD.
Tribunal held that interest disallowance for non-deduction of TDS must be restricted to 30% under amended provisions. It also remanded issue of estimated interest on interest-free advances for verification.
The ITAT Nagpur set aside an addition made under Section 40(a)(ia), holding that non-deduction of TDS on capital expenditure does not attract disallowance since it is not claimed as an expense.
