Judgement

ITAT dismissed Revenue’s appeals, upholding the allowability of prior-period expenses, Section 80-IA deduction, and treating subsidies and export incentives as capital receipts.

ITAT Upholds Allowability of Prior-Period Expenses and Capital Subsidies; Favours Assessee

ITAT cancels Rs. 1.15 crore addition as Section 153C reassessments for AY 2013-14 to 2015-16 were held beyond the permissible six-year limit.

Section 153C Reassessments Beyond Six-Year Limit Held Invalid; ITAT Quashes Rs. 1.15 Crore Addition

Since, the addition was made only on the basis of an Excel Sheet without the actual physical verification of inventory, the tribunal rejected Revenue's appeal. .

Addition Made Solely on Basis of Excel Sheet Without Actual Verification is Unsustainable: ITAT

Loose sheets, staff statements and seized material sufficient to sustain Section 69C addition; unexplained land investment also confirmed

ITAT Upholds Rs. 37.85 Lakh Unexplained Expenditure Addition in Resort Search Case

Tribunal deletes 4.30 crore addition on change in revenue recognition method, holding it to be a mere timing difference with no loss to revenue.

ITAT Deletes Rs. 4.30 Cr Addition on Change in Revenue Recognition Method

ITAT Deletes Rs. 4.30 Cr Addition on Change in Revenue Recognition Method; Holds Issue Is Mere Timing Difference

The ITAT observed that since the MOA amendment application was still pending, the assessee should be given one more opportunity.

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ITAT Upholds Allowability of Prior-Period Expenses and Capital Subsidies; Favours Assessee

Section 153C Reassessments Beyond Six-Year Limit Held Invalid; ITAT Quashes Rs. 1.15 Crore Addition

Addition Made Solely on Basis of Excel Sheet Without Actual Verification is Unsustainable: ITAT

ITAT Upholds Rs. 37.85 Lakh Unexplained Expenditure Addition in Resort Search Case

ITAT Deletes Rs. 4.30 Cr Addition on Change in Revenue Recognition Method; Holds Issue Is Mere Timing Difference

ITAT Restores Section 12AA Registration Citing Pending Application for MOA Amendment