The Tribunal held that deductions for donations cannot be denied due to later retrospective withdrawal of approval. Genuine donations made when the donee was approved retain tax ...

ITAT upheld deletion of ₹3.31 crore addition under Section 69, noting full disclosure of foreign assets and sufficient income. Revenue cannot levy additions where investments are legitimate and ...

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Mumbai ITAT ruled that retracted statements of a third-party transporter cannot justify additions without corroborative material. Detailed invoices, delivery challans, and proof of goods movement ...

Delhi ITAT remands the case to CIT(A) for fresh adjudication after ex-parte dismissal. Tribunal emphasized that sufficient hearing opportunity must be granted before rejecting ...

The Tribunal upheld the addition because the assessee could not prove the creditor’s identity, financial capacity, or the genuineness of the ₹50 lakh credit. Defective confirmation, NIL income of the ...

ITAT upheld rejection of books under Section 145(3) due to incomplete records but reduced estimated net profit from 8% to 2%. Historical profit trends guided a fairer ...

ITAT Delhi remands addition of ₹78.12 lakh under Section 68, allowing assessee to prove lessees’ agricultural use. Proper verification and opportunity are essential before denying Section 10(1) ...

Mumbai ITAT permits deduction under Section 57(iii) for ₹30.90 lakh interest paid on housing loan deployed to earn interest income. The ruling confirms that loan purpose, not its label, determines ...

ITAT Chennai confirmed that section 234A interest is only compensatory and cannot be charged for periods when no tax remains outstanding. Full payment of self-assessment tax prior to the start of ...

ITAT Delhi allowed travelling and visa expenses paid by assessee’s sons as wholly & exclusively for business purposes in overseas education consultancy. The Tribunal emphasized that procedural delay ...

The Tribunal held that conflicting judicial views on Section 10(38) exemption made the issue debatable. Since the assessee disclosed all facts, penalty for concealment could not survive despite later ...