Judgement

High Court upholds ITAT’s order deleting 6.31 crore addition, holding that unverified documents alone cannot establish undisclosed investment

Gujarat HC deletes Rs. 6.31 Crore Income Tax Addition solely based on unverified document

ITAT Delhi held that an NRI seller is entitled to TDS credit in the correct assessment year even if the buyer deposits the tax late.

Tribunal Rules Seller Cannot Be Denied TDS Credit Due to Buyer’s Late Payment

ITAT Delhi rules that the Section 69C addition is invalid as the Assessing Officer acted beyond the show cause notice, violating natural justice and procedural fairness, allowing the assessee’s appeal.

Income Tax assessment order cannot travel beyond the scope of the show cause notice

The ITAT observed that there was a complete shift in the pattern of sales as compared to the previous FY, and both the AO and CIT(A) did not consider the nature of transactions.

ITAT Deletes Addition of Unexplained Cash Deposits Due to Change in Sales Pattern

ITAT Delhi held that sales already recorded in audited books and GST returns cannot be taxed again as unexplained cash credits under Section 68.

ITAT Quashes Addition Made u/s 68: Sales Declared in books, GST Can’t Be Treated as Unexplained Income

The ITAT concluded that the non-compliance with Income Tax provisions was from the employer's side, and it is not fair to penalise the assessee for the mistake of the employer.

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Gujarat HC deletes Rs. 6.31 Crore Income Tax Addition solely based on unverified document

Tribunal Rules Seller Cannot Be Denied TDS Credit Due to Buyer’s Late Payment

Income Tax assessment order cannot travel beyond the scope of the show cause notice

ITAT Deletes Addition of Unexplained Cash Deposits Due to Change in Sales Pattern

ITAT Quashes Addition Made u/s 68: Sales Declared in books, GST Can’t Be Treated as Unexplained Income

TDS Credit Must Be Given Even if Employer Fails to Deposit Tax: ITAT