Judgement

The ITAT Delhi held that additions under Section 69 cannot be sustained where YEIDA land payments are duly recorded in the books and supported by explained banking transactions.

ITAT Holds Section 69 Cannot Apply When Source of Funds Is Properly Explained and Recorded in Books

The ITAT partly favours the taxpayer by deleting the Rs 28.92 lakh Section 68 addition on sundry creditors while sustaining additions relating to low household withdrawals and TDS default on freight expenses.

ITAT Ahmedabad Deletes Rs 28.92 Lakh Section 68 Addition, Upholds Household and TDS Disallowances

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.

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ITAT Holds Section 69 Cannot Apply When Source of Funds Is Properly Explained and Recorded in Books

ITAT Ahmedabad Deletes Rs 28.92 Lakh Section 68 Addition, Upholds Household and TDS Disallowances

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