The case examined rejection of registration without affording a proper opportunity of being heard. The Tribunal ruled that ...

The Assessing Officer assumed that no return of income was filed while recording reasons under section 147. The Tribunal ruled that such factually incorrect reasons vitiate the assumption of ...

The issue was whether stamp duty value on the agreement date could replace the registration-date value for section 56 additions. The Tribunal remanded the matter for verification of the claimed ...

ITAT Delhi held that reassessment based on mechanical approval is invalid in law. Sanction must reflect independent application of mind by the approving ...

Whether interest earned on fixed deposits by a credit co-operative society qualifies for deduction under section 80P(2)(a)(i).Ruling & Takeaway: The Tribunal held that interest from depositing surplus ...

Interest was disallowed treating the loan as bogus. Once the loan itself was held genuine, the Tribunal allowed the interest deduction. The ruling confirms that business interest cannot be denied ...

The PCIT sought to revise the assessment for lack of arms length determination. The Tribunal ruled that the Assessing Officer cannot be faulted when the TPO did not act. The decision reinforces limits ...

The Tribunal found that the AO had examined land records, crop sale documents, and other evidence before making the assessment. Since due inquiry was conducted, the assessment order was neither ...

The Tribunal held that reassessment is invalid where the mandatory notice under Section 143(2) is issued beyond the prescribed time limit. Absence of a valid and timely notice strikes at the very ...

The Tribunal ruled that additions under section 69 cannot exceed the amount actually invested during the relevant year. Where most payments were loan-funded, only the year-specific payment required ...

Mumbai ITAT held that additions cannot be sustained merely due to Form 26AS mismatches. The Assessing Officer must verify whether income was already taxed to avoid double ...

ITAT Delhi quashed reassessment issued beyond three years where alleged escapement was only ₹35 lakh. Section 149 bars reopening unless the ₹50-lakh threshold is ...