Judgement

ITAT dismissed the Revenue’s appeal, upheld the deletion of Rs. 12.12 crore cash purchase addition, and sustained only Rs. 1.16 lakh as an unexplained cash deposit.

ITAT Upholds Deletion of Rs. 12.12 Crore Cash Purchase Addition; Sustains Rs. 1.16 Lakh Cash Deposit Addition

Articles

The Tribunal highlighted that giving approval based on the reasons recorded in Annexure A is bad and shows the non-application of an independent mind.

PCIT's Approval Based Solely on AO's Recorded Reasons Reflects Non-Application of Independent Mind: ITAT

PCIT's Approval Based Solely on AO's Recorded Reasons Reflects Non-Application of Independent Mind

Failure to Claim TDS in Return Does Not Defeat Substantive Right When Tax Is Deposited and Income Offered

ITAT Mumbai: Genuine TDS Credit Cannot Be Denied for Mere Procedural Lapse in ITR

The Tribunal cited that to invoke Section 41(1), the assessee must credit the said liability to its profit and loss account, which was not the case here.

Section 41(1) Cannot be Invoked Without P&L Credit Proof: ITAT Deletes Cessation Addition

There is no requirement that the doctor's prescriptions and the identity of the persons buying the medicines need to be kept on record to prove the genuineness of the cash sales during the demonetisation.

ITAT Delhi Grants Relief to Pharmacy Owner on Demonetisation Cash Deposits

ITAT Delhi Grants Relief to Pharmacy Owner on Demonetization Cash Deposits

Retrospective Cancellation Unsustainable When Not Proposed in Show Cause Notice

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ITAT Upholds Deletion of Rs. 12.12 Crore Cash Purchase Addition; Sustains Rs. 1.16 Lakh Cash Deposit Addition

PCIT's Approval Based Solely on AO's Recorded Reasons Reflects Non-Application of Independent Mind

ITAT Mumbai: Genuine TDS Credit Cannot Be Denied for Mere Procedural Lapse in ITR

Section 41(1) Cannot be Invoked Without P&L Credit Proof: ITAT Deletes Cessation Addition

ITAT Delhi Grants Relief to Pharmacy Owner on Demonetization Cash Deposits

High Court Sets Aside Retrospective GST Registration Cancellation for Lack of SCN Basis