ITAT Mumbai allows compensation for contract breach as business expense, dismisses revenue’s appeal on advance additions in Logical Properties case.
CESTAT Delhi overturns ₹10 lakh penalty under Rule 26(1), citing the absence of confiscation, a key requirement for imposing penalties under the Excise Rules.
ITAT Ahmedabad remands case due to incorrect notice delivery, allowing reassessment of unexplained deposits and income under natural justice principles.
ITAT Chennai remands case for fresh assessment, allowing Ramesh Sreenivasalu to submit documents on demonetization cash deposits. Assessee fined Rs. 20,000.
CESTAT Chennai abates Neoteric Infomatique’s customs appeal after NCLT’s approval of the resolution plan, citing Supreme Court and tribunal precedents.
ITAT Mumbai rules that trading results and gross profit cannot be disturbed if purchases, sales, and payments are substantiated. Bogus purchase addition deleted.
ITAT Delhi directs inclusion of Magma Advisory Services Ltd. in Honda R&D’s comparable list, rejecting TPO’s reasons and DR’s functional disparity claims.
ITAT Bangalore remands MBM Developers Vs DCIT case for reassessment, directing the AO to verify income recognition and expense allocation.
ITAT Bangalore dismisses the appeal in Ramrao Mannaji Nandakumari Vs ITO after the assessee opts for settlement under Vivad Se Vishwas Scheme 2024.
Telangana High Court rules that the Sabka Vishwas Scheme cannot be used to settle tax dues with fraudulent documents. Writ petition dismissed in Diwakar Road Lines case.
