Judgement

Notice u/s 148 held invalid as approval obtained from wrong authority; Revenue’s appeal dismissed as infructuous

ITAT Quashes Reopening Beyond 3 Years Where Escaped Income Was Rs. 10.25 Lakh

Cash consideration from temple workers treated as genuine transaction; reasonable cause under Section 273B accepted

ITAT Deletes Rs. 13.56 Lakh Penalty Under Section 271D; Cash Received on Flat Sale Held Bona Fide

Excess jewellery stock to be taxed only to extent actually reconciled and already offered in return

ITAT Restricts Stock Addition to Rs. 19.46 Lakh; Survey Working Found Inflated

Once AO passed first OGE granting refund and lifting attachments, second order held non-est and without jurisdiction

ITAT Quashes Second Order Giving Effect; Holds Two Assessments Cannot Co-Exist

The AO was directed to examine the details of the nature and source of cash deposits in the assessee's bank account and then pass an assessment order.

ITAT Restores Assessment After AO Goes Beyond Scope of Limited Scrutiny in Cash Deposit Case

The ITAT held that the compensatory payments made out of contractual obligations are not a penalty, and the same can be allowed as a business expenditure.

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ITAT Quashes Reopening Beyond 3 Years Where Escaped Income Was Rs. 10.25 Lakh

ITAT Deletes Rs. 13.56 Lakh Penalty Under Section 271D; Cash Received on Flat Sale Held Bona Fide

ITAT Restricts Stock Addition to Rs. 19.46 Lakh; Survey Working Found Inflated

ITAT Quashes Second Order Giving Effect; Holds Two Assessments Cannot Co-Exist

ITAT Restores Assessment After AO Goes Beyond Scope of Limited Scrutiny in Cash Deposit Case

ITAT: Payment for Goods Shortage in Transit Is Compensatory, Not a Penalty