The ITAT significantly reduced an unexplained cash credit addition from Rs. 32.86 lakh to a lump-sum of Rs. 4 lakh, reasoning that a regular exporter with maintained books cannot have the entire ...
This ITAT ruling draws a clear line: it upheld the legal and evidence-based addition of ₹6.12 lakh for deemed rental income on multiple house properties, but simultaneously deleted the entire ...
The ITAT ruled that interest on enhanced compensation for the compulsory acquisition of agricultural land is fully exempt from income tax, citing Section 96 of the RFCTLARR Act, 2013. The Tribunal ...
The ITAT invalidated a reassessment order because the Assessing Officer (AO) failed to make any addition on the sole issue for which the reassessment was initiated (cash deposits). Citing binding ...
Deduction Calculation Basis: High Court Clarifies 5% Fee Applies to Actual Receipts, Not Gross Bills
This Income Tax appeal addressed whether a 5% infrastructure fee should be deducted based on gross bills or actual cash receipts. The Bombay High Court upheld the lower authorities decision, ...
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