The issue was whether a writ petition for FIR quashing becomes infructuous after filing of a chargesheet. The Court held it does not, where broader jurisdiction under BNSS is invoked.
ITAT Bangalore quashed Section 263 revision, holding that AOs acceptance of FMV based on valuers report was a plausible view after enquiry and non-reference to DVO or non-initiation of penalty cannot render the order erroneous or prejudicial.
The Tribunal found that additions were made without examining detailed reconciliation and evidence. It remanded the case for fresh verification, emphasizing proper factual analysis.
The Tribunal held that strict correlation between withdrawals and deposits is not required under Section 69. It ruled that reasonable cash availability and explanation based on probabilities is sufficient.
ITAT Bangalore held that interest on bank deposits from operational funds of a co-operative credit society is eligible for deduction u/s 80P, as it is attributable to business activity; reliance on Totgars was held inapplicable.
The Tribunal held that leave encashment relating to government service remains fully exempt under Section 10(10AA). It ruled that later absorption into a PSU does not change the nature of the benefit.
Section 54/54F deduction allowed by ITAT Bangalore despite incomplete documents, as substantive investment in house construction was proven through JDA, sample bills, and bank records-technical lapses cannot defeat genuine exemption claims.
Reassessment quashed by ITAT Bangalore as failure to pass a speaking order on objections violated mandatory procedure under Sections 147/148, rendering entire proceedings invalid in law.
The Court held that GST authorities cannot rely on seized documents that are missing or untraceable during adjudication. It ruled that proceedings must be based only on available records with fair hearing.
The Court allowed the taxpayer to file a fresh application for revocation of GST registration after failing to reply to the show cause notice. It held that the authority must consider the new application independently.
