Judgement

The ITAT Mumbai held that liability accrued under Mercantile System cannot be disallowed merely because it remained unpaid.

ITAT Holds Accrued Share of Profit Expense Allowable Despite Non-Payment

The ITAT Ahmedabad sets aside reassessment order, directs AO to reconsider cash deposits, loan and expenses.

ITAT Directs AO to Reconsider Cash Deposits, Loan and Expenses 

The ITAT Mumbai held that business expenditure incurred through the credit card of the assessee’s spouse cannot be treated as payment for services requiring TDS.

ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

ITAT condoned a 690-day delay and deleted Rs 9.20 lakh in foreign travel and other expense disallowances while remanding a Rs 4.36 lakh Form 26AS mismatch for fresh verification.

ITAT Deletes Rs 6.42 Lakh Spousal Reimbursement Disallowance, Grants Relief on Rs 9.20 Lakh Foreign Travel Expenses

The Mumbai ITAT gave the taxpayer another opportunity to substantiate professional, commission expenses and Section 80GG deduction claims before the CIT(A).

ITAT Gives Taxpayer Another Chance to Prove Professional, Commission Expenses and Section 80GG Deduction Claims

ITAT deleted a Rs 20.65 lakh ad hoc commission disallowance, holding that estimation alone cannot justify an addition without identifying any bogus or non-business payment.

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ITAT Holds Accrued Share of Profit Expense Allowable Despite Non-Payment

ITAT Directs AO to Reconsider Cash Deposits, Loan and Expenses

ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

ITAT Deletes Rs 6.42 Lakh Spousal Reimbursement Disallowance, Grants Relief on Rs 9.20 Lakh Foreign Travel Expenses

ITAT Gives Taxpayer Another Chance to Prove Professional, Commission Expenses and Section 80GG Deduction Claims

ITAT Deletes Rs 20.65 Lakh Commission Disallowance, Rules AO Cannot Disallow Commission Expenses Merely on Estimation