Income Tax : ITAT held that where sales are not disputed, entire purchases cannot be disallowed. Only 15% profit element was taxed, reinforcing...
Income Tax : The Tribunal quashed reassessment proceedings as they were based on a mere change of opinion without any fresh tangible material. ...
Income Tax : The issue involved levy of late fees on TDS returns processed before statutory amendment. The Tribunal held that absence of enabli...
Income Tax : The Tribunal held that valuation without giving the assessee an opportunity to object violates natural justice. It remanded the ma...
Income Tax : The Tribunal condoned delay due to reasonable cause and addressed valuation mismatch. It remanded the issue for DVO-based reassess...
ITAT Ahmedabad set aside the ex-parte CIT(A) order where notices were sent to a wrong email ID, causing non-receipt by the assessee. The matter, including Sec.69A addition and denial of cross-examination, was remitted to CIT(A) for fresh adjudication on merits.
The Tribunal set aside the ex parte confirmation of a cash-deposit addition and directed fresh examination after the assessee produced sale-related documents. The key takeaway is that additions under section 69 require proper verification of evidence.
The Tribunal confirmed that unsecured loans of ₹1.77 crore were genuine, supported by account-payee cheques, NBFC registration, bank statements, and confirmations. AO’s additions were based on presumption and ignored documentary evidence, so the deletions were rightly upheld.
ITAT Ahmedabad held that reassessment under Section 147 cannot be based on vague or unverified information; specific transactions must be identified to justify additions.
The Tribunal held that TDS credit cannot be denied when Form 16 confirms deduction and deposit of tax. The AO was directed to grant full credit after verification.
Raipur ITAT remanded the section 68 addition of ₹14.3 lakh, observing that NFAC/CIT(A) failed to examine confirmations, ITRs, or facts. The order lacked independent reasoning and was set aside for fresh adjudication.
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.
Tribunal held that Rule 8D disallowance cannot exceed the assessee’s total claimed expenditure and directed restriction of the 14A addition. The ruling clarifies limits on 14A disallowances where expenses are minimal.
The capital-gains addition of ₹4.02 crore arose from 143(1) but was included in the 143(3) scrutiny assessment. ITAT directed CIT(A) to decide the appeal on merits, ensuring the assessee’s rights during scrutiny are protected.
The AO changed the charge from bogus payments to 69A ‘Unaccounted Sales’ without issuing a fresh notice, denying the assessee a proper hearing. ITAT remanded the matter for verification of documentary evidence including invoices, GST returns, and e-way bills.
