Approved gratuity fund provisions remain deductible despite general actual-payment requirements, preventing revision of the allowed gratuity deduction...
Verification of intangible software expenditure and duplicated disallowances requires record-based reassessment before depreciation and income computa...
Cash receipt aggregation requires a single transaction, event or occasion; separate partner capital contributions cannot attract cash-receipt penaltie...
Revenue's appeal before ITAT was dismissed. ITAT upheld CIT(A)'s acceptance of additional evidence under Rule 46A, noting that the material was remanded to the AO and no remand report was furnished despite repeated reminders; thus there was no violation of Rule 46A. On merits, ITAT sustained CIT(A)'s deletion of additions relating to discrepancies in sales turnover, trade payables, and current liabilities, finding that reconciliations, third-party confirmations under s.133(6), and supporting records fully justified the assessee's position. ITAT also affirmed deletion of addition towards exceptional charges/expenses, holding that the assessee had already made a suo motu disallowance under s.37 and any further disallowance would result in double addition.
Revenue's appeal before ITAT was dismissed. ITAT upheld CIT(A)'s acceptance of additional evidence under Rule 46A, noting that the material was remanded to the AO and no remand report was furnished despite repeated reminders; thus there was no violation of Rule 46A. On merits, ITAT sustained CIT(A)'s deletion of additions relating to discrepancies in sales turnover, trade payables, and current liabilities, finding that reconciliations, third-party confirmations under s.133(6), and supporting records fully justified the assessee's position. ITAT also affirmed deletion of addition towards exceptional charges/expenses, holding that the assessee had already made a suo motu disallowance under s.37 and any further disallowance would result in double addition.
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