Judgement

ITAT relied on the judgement of the Delhi HC where it was clarified that the penalty for concealment of income cannot be levied if the income is assessed under MAT provisions.

Concealment Penalty Cannot be Imposed When Income Assessed Under MAT Provisions: ITAT

The Tribunal observed that the previous rulings of courts and tribunals have held that substantial justice must be preferred over technical delays.

Substantial Justice More Important Than Technical Delays: ITAT Restores Case

The Tribunal sent the case back to the Assessing Officer, directing him to re-examine the claim and allow the exemption if all conditions under Section 54 are fulfilled.

Section 54 Deduction Can be Claimed Even Without Filing Original Return: ITAT

The Tribunal held that once purchases are accepted, the related expenditure cannot be treated as unexplained.

ITAT: Once purchases are accepted, the related expenditure cannot be treated as unexplained

ITAT remands commission disallowance for verification; reduces ad hoc expense disallowance from twenty to ten percent.

ITAT Remands Commission Disallowance; Section 68 Not Invocable Without Verification

ITAT Remands Commission Disallowance, Section 68 Not Invocable Without Verification

ITAT Ahmedabad deleted the Rs 11 lakh addition, holding that proper bank records and evidence of medical expenses were ignored by the CIT(A).

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Concealment Penalty Cannot be Imposed When Income Assessed Under MAT Provisions: ITAT

Substantial Justice More Important Than Technical Delays: ITAT Restores Case

Section 54 Deduction Can be Claimed Even Without Filing Original Return: ITAT

ITAT: Once purchases are accepted, the related expenditure cannot be treated as unexplained

ITAT Remands Commission Disallowance, Section 68 Not Invocable Without Verification

ITAT Quashes Rs 11 Lakh Addition Quashed Over Ignored Evidence and Genuine Medical Withdrawals