The issue was whether penalty could survive after the underlying assessment was quashed. The ITAT held that once the 153A assessment was annulled, the penalty under section 270A automatically fell.
The Revenue made additions on alleged penny-stock transactions under section 68. The ITAT held that once section 153C jurisdiction itself fails, the additions automatically fall without examination on merits.
The issue was whether alleged negative stock justified profit estimation. The Tribunal held that value-based assumptions using average GP could not override item-wise quantitative stock records maintained on a daily basis.
The High Court declined to interfere with a GST show cause notice, holding that the challenge was premature. The assessee was directed to pursue adjudication and raise all legal submissions.
The Supreme Court ruled that payments made to prevent competition, even if providing enduring business benefits, are allowable revenue expenditures and not capital expenditures.
The Tribunal held that restricting TDS credit at the CPC stage is unsustainable when Form 26AS supports the claim. Full credit must be allowed after verification under Section 199 and Rule 37BA, ensuring income–TDS linkage.
The Tribunal ruled that a trust reporting a loss cannot be taxed on gross receipts. The addition by the AO was deleted, emphasizing that only net income is relevant for taxation under section 11.
The ITAT held that professional lapse by a Chartered Accountant is a sufficient cause, condoning an 85-day delay and restoring the appeal.
The Tribunal ruled that appellate authorities must decide appeals on merits, even if the taxpayer does not appear, reinforcing the mandate of Section 250(6).
The ITAT ruled that appeal limitation must be counted from the date the taxpayer gains knowledge of the order, setting aside dismissal wrongly made on delay grounds.
