Judgement

ITAT held that the failure of the AO to examine the Section 94B interest disallowance and EBITDA computation justified revision of the assessment under Section 263.

ITAT Upholds PCIT’s Revision Under Section 263: Lack of AO Inquiry on Section 94B Interest Disallowance

ITAT Holds 50% Decretal Amount Withdrawn Under Interim Stay Does Not Accrue as Income Until Final Settlement

Interim Compensation Under Court Decree Taxable Only on Final Settlement, Not on Interim Withdrawal

ITAT Holds That Bare Retraction and Post-Search Book Entries Cannot Undo Clear Section 132(4) Admission

Search Admission Prevails: ITAT Restores Rs. 2.15 Crore Cash Addition After Rejecting Retraction

ITAT Holds Section 270A Penalty Not Leviable Where Income Is Fully Disclosed but Offered Under Incorrect Head

Wrong Head of Income Is Not Misreporting: ITAT Quashes Rs. 2.48 Crore Penalty

High Court Upholds Disallowance of Rent Where Excise Licence for New Premises Was Granted Only in Subsequent Year

Rent Paid for Unlicensed Business Premises Not Deductible Until Statutory Permission Granted

ITAT rules Section 148 reassessment proceedings as invalid after holding that notices issued by the Jurisdictional Assessing Officer violated the mandatory faceless reassessment scheme.

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ITAT Upholds PCIT’s Revision Under Section 263: Lack of AO Inquiry on Section 94B Interest Disallowance

Interim Compensation Under Court Decree Taxable Only on Final Settlement, Not on Interim Withdrawal

Search Admission Prevails: ITAT Restores Rs. 2.15 Crore Cash Addition After Rejecting Retraction

Wrong Head of Income Is Not Misreporting: ITAT Quashes Rs. 2.48 Crore Penalty

Rent Paid for Unlicensed Business Premises Not Deductible Until Statutory Permission Granted

ITAT Quashes Section 148 Reassessment Orders Issued by JAO After Faceless Scheme CBDT Notification