Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
Income Tax : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT Nagpur held that a 50-year lease is not a transfer under Section 2(47)(vi) where the transaction is only a lease and not an a...
Income Tax : ITAT Ahmedabad allowed Section 10(10B) exemption on BSNL VRS compensation, following coordinate bench rulings despite no claim in ...
Income Tax : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
The tribunal held that generation-based incentive linked to electricity output qualifies for deduction under Section 80-IA. It ruled that such incentives have a direct nexus with business operations.
The tribunal held that GST, sales tax, and service tax refunds cannot be taxed where the assessee follows the exclusive accounting method and does not debit such taxes to the P&L account.
The tribunal held that disallowance of weighted R&D deduction is unsustainable when valid Form 3CM approval is on record. It emphasized that sufficient documentary evidence before the AO supports the taxpayer’s claim.
The Tribunal remitted the matter to the AO after finding that the allowance of expenses was based on unverified claims of evidence submission. It directed fresh verification and adjudication.
The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for delay. The matter was restored for reconsideration on merits.
The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The ruling reinforces the burden of proof on the taxpayer.
The Tribunal held that deduction cannot be rejected merely due to absence of supporting evidence without examining merits. It remanded the matter for fresh verification of the claim.
Since most salary payments were accepted, the remaining disallowance was held unjustified. Key takeaway: partial acceptance weakens arbitrary additions.
Interest earned on funds kept in bank during business setup, when those funds were directly linked to the project, was a capital receipt and not taxable as “income from other sources
ITAT held that where sales are not disputed, entire purchases cannot be disallowed. Only 15% profit element was taxed, reinforcing that tax applies to real income, not gross receipts.
