Judgement

The ITAT Mumbai holds Revenue cannot treat entire transaction value as Unexplained Investment without specific evidence.

ITAT Holds Client Code Modification Alone Cannot Justify Section 69 Addition

ITAT has remanded the ex parte tax assessment for fresh consideration, giving the taxpayer another opportunity to present facts and supporting documents before the Assessing Officer.

ITAT Remands Ex Parte Tax Assessment to Assessing Officer, Grants Fresh Opportunity to Present Facts and Supporting Documents

ITAT deleted the Rs 8.56 lakh addition under Section 56(2)(vii)(b), holding that the DVO’s valuation of the jointly purchased property matched the actual purchase price.

ITAT Deletes Rs 8.56 Lakh Addition, Holds Same Property Cannot Have Different Valuations for Joint Owners

ITAT quashes Rs 42.49 lakh penalty under Section 270A after setting aside the underlying income additions for fresh assessment.

ITAT Cancels Rs 42.49 Lakh Penalty Under Section 270A After Setting Aside Income Additions for Fresh Assessment

ITAT reduced the income estimation on Rs 1.42 crore liquor business turnover to 11% and deleted the separate Rs 6 lakh addition for demonetisation-period cash deposits.


ITAT Slashes Profit Rate from 20% to 11% on Rs 1.42 Crore Liquor Turnover, Deletes Separate Rs 6 Lakh Demonetisation Addition

ITAT remands Rs 6.73 lakh TDS credit dispute to the AO for fresh verification of Form 26AS receipts and expense reimbursements.

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ITAT Holds Client Code Modification Alone Cannot Justify Section 69 Addition

ITAT Remands Ex Parte Tax Assessment to Assessing Officer, Grants Fresh Opportunity to Present Facts and Supporting Documents

ITAT Deletes Rs 8.56 Lakh Addition, Holds Same Property Cannot Have Different Valuations for Joint Owners

ITAT Cancels Rs 42.49 Lakh Penalty Under Section 270A After Setting Aside Income Additions for Fresh Assessment

ITAT Slashes Profit Rate from 20% to 11% on Rs 1.42 Crore Liquor Turnover, Deletes Separate Rs 6 Lakh Demonetisation Addition

ITAT Restores TDS Credit Case After Finding Merit in Reimbursement Explanation