ITAT Pune held that a claim of agricultural income cannot be accepted without supporting records. Complete non-compliance at ...

The ITAT held that additional evidence filed under Rule 46A cannot be brushed aside without examination. Since the documents were vital to Section 68 requirements, the matter was remanded for fresh ...

The Tribunal held that an ex-parte capital gains addition could not be sustained where the assessee was denied a meaningful opportunity. Considering comparable treatment in a related case, the matter ...

The ITAT held that even a small part payment through banking channels before or on the agreement date is sufficient to invoke the provisos to section 56(2)(vii)(b)(ii). Substantial payment or ...

The ITAT held that revision under Section 263 cannot be invoked merely because the PCIT disagrees with the Assessing Officer’s view. Once enquiries are made and explanations accepted, substitution of ...

The ITAT held that where investments are fully backed by substantial own funds and a rational suo-motu disallowance is made, Rule 8D cannot be mechanically invoked. The Revenue’s attempt to make an ...

The ITAT held that a trust cannot be faulted for missing a statutory deadline when compliance was factually impossible. The rejection of 80G renewal was set aside and remanded for fresh consideration ...

Courts are divided on whether the DRP-specific deadline under Section 144C(13) overrides the general assessment time bar in Section ...

ITAT held that disclosures in an election affidavit cannot, by themselves, justify reopening an assessment. The ruling reinforces that reassessment requires fresh tangible material and a live link to ...

While restoring the appeals, the ITAT directed expeditious disposal and warned against avoidable adjournments. The key takeaway is that condonation is granted to enable justice, not to prolong ...

ITAT Hyderabad held that an unsigned sale agreement cannot automatically justify higher capital-gains additions. The AO must verify actual receipt of funds before confirming any ...

This explains when investment values must be written down under AS 13 and Ind AS, and why recognising impairment is essential for accurate financial ...