Judgement

The ITAT held that the compensatory payments made out of contractual obligations are not a penalty, and the same can be allowed as a business expenditure.

ITAT: Payment for Goods Shortage in Transit Is Compensatory, Not a Penalty

Additional evidence admitted without remand report; interest disallowance deleted citing commercial expediency

ITAT Remands Rs. 3.80 Cr Addition for Fresh Verification; Upholds Deletion of Rs. 86.99 Lakh Interest Disallowance

No incriminating material was found in the Patel RPL Realty Group search; gross interest additions under Sections 69A/69C were rejected.

ITAT Quashes 153A Additions for Unabated Years; Restricts Interest Addition to Net Rs. 4.37 Lakh

The committee reprimanded the respondent, CA Ravi Khanna, under Section 21B(3)(a) of the Chartered Accountants Act, 1949.

ICAI Reprimands Chartered Accountant for Audit Reporting Lapses

The Allahabad High Court quashed the GST notice and demand order after finding that they were uploaded under the wrong tab on the GST portal.

HC Quashes GST Demand Over Improper Service on Portal; Case Remanded for Fresh Consideration

ITAT upheld the deletion of the Rs. 93.75 lakh addition, ruling that genuine farmer loan repayments in demonetised cash cannot be treated as unexplained income.

ITAT Relief to Gujarat Farmer Cooperative: Demonetisation Addition Deleted After Proper Loan Records Verified

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