Judgement

The ITAT Chennai rules that accounting discrepancies and balance-sheet items cannot automatically be treated as taxable income.

 ITAT Holds Opening Capital, Chit Liability and Sundry Debtors Cannot Be Taxed Without Statutory Basis

ITAT remands the Rs 2.04 crore pre-operative expense dispute to CIT(A), directing a fresh examination of business commencement, supporting documents, revenue recognition, and interest expenditure.

ITAT Remands Rs 2.04 Crore Pre-Operative Expense Disallowance Dispute, Holds Business Setup and Commencement Are Distinct

The ITAT holds Search Conducted After 1 April 2021 Triggers Special Reassessment Mechanism.

ITAT Quashes Assessment Framed Under Section 143(3) After Search

ITAT condoned a 46-day delay in filing the appeal and directed the CIT(A) to hear and decide the tax dispute on merits.

ITAT Directs CIT(A) to Condone 46-Day Delay, Restore Appeal for Fresh Decision on Merits

ITAT remands Rs 28.49 lakh unexplained income dispute to AO for fresh examination after assessee changed his stand on SBI CSP bank deposits.

ITAT Remands Rs 28.49 Lakh Unexplained Income Dispute to AO for Fresh Examination After Assessee Changes Stand on SBI CSP Bank Deposits

ITAT quashes the Section 263 revision over Rs 40.80 crore alleged bogus purchases, holding that the AO had adopted a legally permissible view, and the issue was already pending before CIT(A).

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ITAT Holds Opening Capital, Chit Liability and Sundry Debtors Cannot Be Taxed Without Statutory Basis

ITAT Remands Rs 2.04 Crore Pre-Operative Expense Disallowance Dispute, Holds Business Setup and Commencement Are Distinct

ITAT Quashes Assessment Framed Under Section 143(3) After Search

ITAT Directs CIT(A) to Condone 46-Day Delay, Restore Appeal for Fresh Decision on Merits

ITAT Remands Rs 28.49 Lakh Unexplained Income Dispute to AO for Fresh Examination After Assessee Changes Stand on SBI CSP Bank Deposits

ITAT Quashes Section 263 Revision, Holds PCIT Cannot Invoke Section 263 Where AO Adopted a Plausible View