Delhi ITAT upholds the deletion of a tax addition on cash sales during demonetization, ruling that the tax authority’s addition was based on assumptions, not evidence.
The ITAT Delhi has deleted additions made by the tax department, ruling that an ad-hoc expense disallowance and additions for loans and cash deposits were invalid.
ITAT Mumbai held that interest on delayed VAT/GST and penalties for export obligation defaults are deductible u/s 37(1). However, loss on sale of assets was treated as short-term capital loss and could not be set off against business income.
The ITAT Delhi has quashed a reassessment notice, ruling it was based on borrowed satisfaction and mechanical approval from superior tax authorities.
The ITAT Delhi has quashed a reassessment notice, ruling it was invalid for being issued for verification and based on a borrowed belief without tangible material.
The ITAT Raipur has quashed a reassessment notice for AY 2016-17, ruling it was invalid due to a jurisdictional error where the approval was granted by an incorrect authority.
ITAT quashes reassessment against Mauritius-based FPI, ruling that sanction from correct authority under section 151 was mandatory.
ITAT Mumbai quashes a reassessment notice, ruling it was invalid as the sanction was granted by the wrong authority under Section 151 of the Income-tax Act.
The Bombay High Court has quashed a reassessment notice for AY 2018-19, ruling the sanction was improperly granted by a lower authority, the PCIT.
GSTAT ruled that Raj & Company failed to pass on GST rate cut from 28% to 18% on cosmetics, profiteering ₹3.31 lakh. Distributor directed to deposit with interest.
