The issue was whether compensation paid to flat buyers was capital or revenue expenditure. The Court held it to be revenue expenditure as it was incurred for business purposes and commercial expediency.
The Tribunal held that complete disallowance was excessive despite lack of full documentation. It allowed 50% deduction considering business necessity. Key takeaway: partial evidence can justify partial allowance.
The Tribunal held that cash disclosed in earlier returns can explain seized cash. It restricted addition to the unexplained portion. Key takeaway: prior disclosures carry strong evidentiary value.
The Tribunal invalidated reopening as the AO obtained approval from the wrong authority. It held that compliance with Section 151 is a jurisdictional requirement. Key takeaway: improper sanction nullifies reassessment.
The issue was failure to pass a final assessment order after DRP directions within the statutory timeline. The Court held the assessment invalid and time-barred, quashing the proceedings.
The issue was whether seat adjustment components qualify as seat parts or auto parts. CESTAT held they are integral seat parts under CTI 9401, overturning reclassification and duty demand.
The issue was whether stamp duty value of redevelopment property is taxable without possession. ITAT held that Section 56(2)(x) applies only on actual receipt, so no tax arises without possession.
The issue was whether delay in filing appeal can be condoned when assessment order was not served. ITAT held that non-service constitutes sufficient cause, requiring fresh adjudication on merits.
The issue was addition of cash found during search claimed to belong to the assessee’s mother. The Tribunal allowed partial relief, accepting some explanations based on evidence and probabilities while sustaining the balance.
The issue was denial of concessional tax regime due to incorrect ITR disclosure and alleged delay in filing Form 10-IC. The Tribunal held that due date depends on the class of assessee, not procedural lapses, and allowed Section 115BAA benefit.
