Unexplained income v/s business receipts - Diary-recorded cash transactions as business proceeds - Estimation of business income under section 44AD HELD THAT: - The Tribunal accepted that the diary entries related to the assessee's ice-cream business, comprising cash deposits in the bank and movements of cash in hand. Bank statements supported the explanation that some of the cash had been deposited in the bank. Since complete particulars to correlate every entry were unavailable, the tra... ... ...

Unexplained money - inter-bank transfers from disclosed salary income - Standard deduction from rental income despite non-filing of return Unexplained money - explained inter-bank transfers - Addition for alleged unexplained money in respect of transfers between the assessee's own bank accounts - HELD THAT: - The credits in the receiving bank account represented transfers from the assessee's other bank account, which reflected salary credits. As the source of the transfers was explain... ... ...

Suppressed sales - Profit element in unrecorded sales - Addition for alleged suppressed jewellery sales inferred from a shortfall in stock valuation, where the stock was explained by opening balances reflected in audited accounts and no undisclosed investment in such stock was alleged - HELD THAT: - Although the assessee's failure to produce books justified their rejection, the computation of the alleged sales outside the books proceeded from the opening stock disclosed in the assessee's... ... ...

Penalty u/s 271(1) for unexplained cash credit - effect of deletion of quantum addition u/s 68 HELD THAT: - The addition under section 68 had already been deleted in the quantum appeal. Since that addition was the sole foundation for the penalty, its deletion removed the basis for levy of penalty under section 271(1)(c). [Paras 6] The penalty was directed to be deleted. Final Conclusion: The appeal was allowed and the penalty, being consequential to an addition deleted in the quantum pr... ... ...

Characterization of receipts from the sale of flats constructed on land owned by assessee - Adventure in the nature of trade or capital gain - Sale of self-constructed flats - Deduction under section 54 where sale receipts are business income HELD THAT: - The character of the transaction had to be determined from the totality of the relevant circumstances, and the absence of regular property dealings did not preclude a single transaction from constituting an adventure in the nature of trade.... ... ...

Section 87A rebate under section 115BAC(1A) on short-term capital gains - Entitlement of an assessee assessed under the new tax regime to rebate under section 87A on tax payable on short-term capital gains taxable at the special rate under section 111A HELD THAT: - The Tribunal accepted the consistent coordinate-bench construction in of Jayshreeben Jayantibhai Palsana [2025 (8) TMI 842 - ITAT AHMEDABAD] and Rajshree Kothari [2026 (9) TMI 1033 - ITAT JAIPUR] that section 87A applies to tax lia... ... ...

Transitional limitation for reassessment based on seized material - Relevant date under section 153C for a person other than the searched person Validity of the reassessment notice for AY 2012-13 issued on the basis of material seized in the search of another person, having regard to the first proviso to section 149 - HELD THAT: - For a person other than the searched person, the date on which seized books, documents or assets are received by the Assessing Officer having jurisdiction over that... ... ...

Rejection of books of accounts - non-maintenance of stock records - Net profit estimation-rational basis - Cash credit-fresh evidentiary verification Rejection of books-non-maintenance of stock and trading records - Validity of rejection of books where shop-wise stock and inventory records and purchase, sales and expense ledgers were not maintained or produced - HELD THAT: - Rejection of books on the ground of incorrectness or incompleteness requires a substantial defect in the accounts. Stoc... ... ...

Surviving limitation under TOLA after deemed section 148A(b) notice - Reassessment notice for A.Y.2015-16-statutory bar of limitation Reassessment notice-surviving limitation under TOLA - Validity of the reassessment notice for A.Y.2014-15 issued after the surviving period of limitation following its deemed treatment as a show-cause notice under section 148A(b) - HELD THAT: - The legal fiction treating the earlier notice as a deemed show-cause notice stopped the limitation clock but did not g... ... ...

Transfer of development rights under a joint development agreement - Capital gains assessable in hands of an association of persons - Full value of consideration in joint development arrangements - Mutuality and third-party development arrangements - Assessment limitation under TOLA - Validity of faceless assessment procedure Extension of assessment limitation under TOLA - Validity of the assessment completed within the period extended under TOLA and the notifications issued thereunder - HELD... ... ...

Revisionary jurisdiction u/s 263 - charitable-trust assessment - Application of foreign contribution for COVID-19 relief-benefit to specified persons Validity of revision of the charitable trust's assessment on the allegation that foreign contribution applied for COVID-19 relief through a hospital company benefited specified persons - HELD THAT: - The Assessing Officer had specifically examined the foreign contribution, its utilisation for COVID-19 relief and the related compliance before... ... ...

Adjustment of refund against disputed tax demand pending appeal - Binding nature of CBDT recovery instructions - Prior intimation for refund adjustment Adjustment of refund against disputed tax demand pending appeal - Stay application for disputed tax demand - Entitlement to refund of an amount adjusted against the disputed demand when no stay had been sought before the competent authority - HELD THAT: - The petitioner had not sought a stay before the competent authority when the initial adju... ... ...

Charitable registration u/s 12A(1)(ac)(iii) of a proposed accommodation project - Independent inquiry for section 80G approval Registration of a proposed charitable accommodation project u/s 12A(1)(ac)(iii) - Entitlement of a Section 8 company proposing to provide accommodation on recovery of charges to charitable registration at the inception stage - HELD THAT: - At the initial stage, the objects, project report and purpose for which the institution is established require examination. The po... ... ...

TDS u/s 194-I on external development charges paid to HUDA and the consequent treatment of the payer as an assessee in default - HELD THAT: - The Court proceeded on the binding position in DLF Homes Panchkula [2023 (4) TMI 399 - DELHI HIGH COURT] already settled by it that payment of external development charges to HUDA did not render the petitioner an assessee in default for non-deduction of tax under section 194-I. As the issue stood covered in favour of the petitioner, both the default order ... ... ...

Limitation for appeal - communication of Appellate Tribunal order - Condonation of delay - sufficient cause Limitation for appeal - communication of Appellate Tribunal order - Commencement of limitation for an appeal against an order of the Appellate Tribunal - HELD THAT: - Section 254(3) and the Appellate Tribunal Rules require the Tribunal, after signing its order, to communicate it to both parties and contemplate free supply of that copy. As the statutory scheme does not require a party to... ... ...

Taxability of unpaid excise duty on uncleared closing stock - Disallowance of unclaimed statutory expenditure under Section 43B Excise duty valuation of uncleared sugar and molasses stock under Section 145A - Section 43B disallowance of unclaimed statutory expenditure - Addition of unpaid excise duty relating to uncleared sugar and molasses stock retained in the bonded warehouse, where no corresponding expenditure had been claimed in the profit and loss account HELD THAT: - The premise tha... ... ...

Condonation of delay beyond statutory maximum in GST appeals - Departmental appeal after restoration of GST registration Condonation of delay beyond statutory maximum in GST appeals - Statutory appellate jurisdiction - Jurisdiction of the First Appellate Authority to condone delay in an appeal against cancellation of GST registration beyond the maximum period under section 107(4) - HELD THAT: - The First Appellate Authority, being a statutory authority, could exercise its power to condone del... ... ...

Transit penalty for documented movement of goods - Mens rea in transit penalty proceedings - Evidentiary value of driver's statement Penalty under Section 129(3) for transportation of iron scrap where the consignment matched the tax invoice and e-way bill and the alleged undisclosed loading place rested on the driver's statement - HELD THAT: - The landmark judgment of Hindustan Steel Ltd. v. State of Odisha [1969 (8) TMI 31 - SUPREME COURT] wherein the Apex Court established the found... ... ...

Refund of unutilized input tax credit under inverted duty structure - Prospective operation of refund restrictions on edible oils - Executive circular cannot retrospectively curtail accrued input tax credit Refund of accumulated input tax credit on edible oils under an inverted duty structure for the period preceding 18.07.2022, where the fresh refund application was filed after that date - HELD THAT: - The restriction introduced by Notification No. 09/2022-Central Tax (Rate) was prospective ... ... ...

GST penalty for technical discrepancy in e-way bill - Intention to evade tax Penalty for mismatch between the dispatch location in the e-way bills and the transporter's goods receipts for areca-nut consignments, where the transactions were accounted for and tax had been discharged - HELD THAT: - The Tribunal found that the consignments were accompanied by valid e-invoices and e-way bills, were reflected in the statutory returns, and the applicable tax had been paid. It held that a mere pr... ... ...