Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Addition for alleged unexplained cash receipts based solely on an excel sheet/ledger seized from a third party and a statement recorded from that third party was held unsustainable because the assessee was not furnished the relied-upon seized material or statement and was denied an effective opportunity to cross-examine the witness, constituting a breach of natural justice. In the absence of any direct or corroborative evidence linking the assessee to the alleged receipts, the material was treated as merely circumstantial and insufficient to support the addition. The impugned addition was deleted and the appeal was allowed - ITAT
Addition for alleged unexplained cash receipts based solely on an excel sheet/ledger seized from a third party and a statement recorded from that third party was held unsustainable because the assessee was not furnished the relied-upon seized material or statement and was denied an effective opportunity to cross-examine the witness, constituting a breach of natural justice. In the absence of any direct or corroborative evidence linking the assessee to the alleged receipts, the material was treated as merely circumstantial and insufficient to support the addition. The impugned addition was deleted and the appeal was allowed - ITAT
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