Judgement

Notices but emailed on 01.04.2021 held invalid; assessments set aside for breach of post–Finance Act 2021 safeguards

ITAT Quashes Reassessment Notices Without Following Section 148A Procedure

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.

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ITAT Quashes Reassessment Notices Without Following Section 148A Procedure

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