Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Addition under s. 68 for unsecured loans was held unsustainable where the assessee furnished confirmations/affidavits, bank statements showing availability of funds, and banking-channel transfers, thereby establishing identity, creditworthiness, and genuineness; the AO, despite having complete particulars, made no independent verification by issuing summons/notices under s. 133(6) and relied only on suspicion regarding low income or cash deposits, which could not substitute evidence, and the Finance Act, 2022 second proviso to s. 68 was held inapplicable to AY 2016-17; the addition was deleted. Ad hoc disallowance of expenses for want of vouchers was restricted from 20% to 5% as reasonable. - ITAT
Addition under s. 68 for unsecured loans was held unsustainable where the assessee furnished confirmations/affidavits, bank statements showing availability of funds, and banking-channel transfers, thereby establishing identity, creditworthiness, and genuineness; the AO, despite having complete particulars, made no independent verification by issuing summons/notices under s. 133(6) and relied only on suspicion regarding low income or cash deposits, which could not substitute evidence, and the Finance Act, 2022 second proviso to s. 68 was held inapplicable to AY 2016-17; the addition was deleted. Ad hoc disallowance of expenses for want of vouchers was restricted from 20% to 5% as reasonable. - ITAT
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