Judgement

Tribunal remanded the transfer pricing dispute after finding key comparables functionally different from the assessee’s business.

ITAT Flags Functional Mismatch in TP Comparables, Sends Matter Back

The ITAT held that expenditure covered under a binding APA under Section 92CC cannot be disallowed again under Section 37(1), deleting Rs 15.77 crore disallowance.

Once Covered Under Section 92CC Binding APA, Business Expediency Cannot Be Reopened: ITAT

ITAT Ahmedabad has held that the reassessment proceedings initiated under Section 147 can not be continued if there is no addition made on the very issue for which the case was reopened, Tribunal deleted Rs 66.49 lakh addition made under Section 69B

ITAT Quashes Reassessment as No Addition Was Made on Original Ground of Reopening

ITAT condoned a 13-year delay in filing an appeal and restored the co-operative housing society’s Section 80P deduction claim to the AO for fresh examination.

Delay Not Intentional: ITAT Revives Co-Operative Society’s Appeal in Tax Matter

The ITAT Delhi deleted a Rs 15.41 crore addition under Section 69 after finding that the taxpayer had adequately explained the source of investments despite an ITR reporting error.

Addition Is Unsustainable When Investment Sources Are Properly Verified Despite ITR Reporting Error: ITAT

ITAT held that a genuine mistake in Form 10 can be rectified before assessment completion, allowing charitable trusts to claim Section 11(2) accumulation benefit.

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ITAT Flags Functional Mismatch in TP Comparables, Sends Matter Back

Once Covered Under Section 92CC Binding APA, Business Expediency Cannot Be Reopened: ITAT

ITAT Quashes Reassessment as No Addition Was Made on Original Ground of Reopening

Delay Not Intentional: ITAT Revives Co-Operative Society’s Appeal in Tax Matter

Addition Is Unsustainable When Investment Sources Are Properly Verified Despite ITR Reporting Error: ITAT

Genuine Mistake in Form 10 Curable Before Assessment Completion: ITAT