Judgement

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.

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

Additional evidence admitted without remand report; interest disallowance deleted citing commercial expediency

ITAT Remands Rs. 3.80 Cr Addition for Fresh Verification; Upholds Deletion of Rs. 86.99 Lakh Interest Disallowance

No incriminating material was found in the Patel RPL Realty Group search; gross interest additions under Sections 69A/69C were rejected.

ITAT Quashes 153A Additions for Unabated Years; Restricts Interest Addition to Net Rs. 4.37 Lakh

ITAT upheld the deletion of the Rs. 93.75 lakh addition, ruling that genuine farmer loan repayments in demonetised cash cannot be treated as unexplained income.

ITAT Relief to Gujarat Farmer Cooperative: Demonetisation Addition Deleted After Proper Loan Records Verified

ITAT Chennai deletes Rs. 2.57 lakh penalty under Section 270A, citing COVID-19 delays and no intentional under-reporting by the assessee.

ITAT Cancels Penalty for Late ITR Filing, Cites COVID-19 Hardship and No Intentional Under-Reporting

The Tribunal rejected the assessee's claim of Rs 1,50,000 deduction under Section 80C towards the LIC premium, as the assessee failed to submit any proper documentary proof

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

ITAT Remands Rs. 3.80 Cr Addition for Fresh Verification; Upholds Deletion of Rs. 86.99 Lakh Interest Disallowance

ITAT Quashes 153A Additions for Unabated Years; Restricts Interest Addition to Net Rs. 4.37 Lakh

ITAT Relief to Gujarat Farmer Cooperative: Demonetisation Addition Deleted After Proper Loan Records Verified

ITAT Cancels Penalty for Late ITR Filing, Cites COVID-19 Hardship and No Intentional Under-Reporting

ITAT Mumbai Sends Back Rs 78.70 Lakh Agricultural Income Addition for Fresh Review; 80C Claim Rejected