Judgement

The Tribunal highlighted the statutory requirement under section 69A which says that if an explanation is supported by credible evidence and is not proved false, no addition should be made

Cash Deposits from Property Sale Cannot Be Taxed as Unexplained

The ITAT Delhi restricts the disallowance of bogus purchases to 8% and treats it as a business expense instead of unexplained cash credits.

Fake Purchases to Be Disallowed as Business Expense, Not Cash Credits: ITAT

ITAT Hyderabad upheld the deletion of Rs. 25.24 crore after confirming that all unsecured loans were fully supported by a clear banking trail.

ITAT Confirms Deletion of Rs. 25.24 Crore Section 68 Addition After Assessee Proves Full Money Trail

The ITAT condoned the delay for 146 days and sent the assessee's rejected registration application filed under Section 12AB of the Income Tax Act, back to the CIT(A) for fresh consideration.

ITAT Restores Section 12AB Registration Request After Accepting Genuine Condonation of Delay for 146 Days

Tribunal Holds That PCIT Cannot Order ‘Roving Enquiries’ Without Demonstrating Actual Error or Prejudice to Revenue

Dabur India Secures Relief: ITAT Delhi Quashes PCIT’s Revision Under Section 263

The ITAT Delhi quashed penalties imposed under sections 271(1)(c) and 270A against Ajay Vision Education Pvt Ltd, holding that the notices did not specify the correct limb of the penalty charge.

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Cash Deposits from Property Sale Cannot Be Taxed as Unexplained

Fake Purchases to Be Disallowed as Business Expense, Not Cash Credits: ITAT

ITAT Confirms Deletion of Rs. 25.24 Crore Section 68 Addition After Assessee Proves Full Money Trail

ITAT Restores Section 12AB Registration Request After Accepting Genuine Condonation of Delay for 146 Days

Dabur India Secures Relief: ITAT Delhi Quashes PCIT’s Revision Under Section 263

ITAT Deletes Penalties u/s 271(1)(c) & 270A for Defective Penalty Notices