The Appellate Tribunal addressed various issues in the case. The ...

The Tribunal ruled in favor of AO on certain expenses but found some additions unsustainable. Evidence and admissions supported AO's decision.

Case Laws Income Tax

July 2, 2024

The Appellate Tribunal addressed various issues in the case. The AO made additions based on uncorroborated documents seized from a third party. The Tribunal held that the evidence and admissions by the assessee supported the AO's decision. The AO rightly disallowed certain expenditures related to illegal payments for securing contracts. The Tribunal rejected the assessee's arguments on various grounds, including set-off of admitted income and deduction u/s 80IA. The Tribunal also upheld the disallowance of certain expenditures reimbursed to subcontractors. However, certain parts of the additions were deemed unsustainable. The Tribunal's decision was based on the evidence, admissions, and legal principles, leading to partial allowance of some grounds.

View Source

← Previous Next →

The Appellate Tribunal addressed various issues in the case. The ...

The Tribunal ruled in favor of AO on certain expenses but found some additions unsustainable. Evidence and admissions supported AO's decision.

Case Laws Income Tax

July 2, 2024

You may also like:

The Appellate Tribunal addressed the validity of reopening assessment under section 147 and addition under section 69A. The Tribunal held that the AO had sufficient...

The Appellate Tribunal considered unexplained cash deposits during demonetization. The Tribunal noted the assessee's agricultural income and expenses but found...

Unsecured loans - Additions u/s 69 as unexplained expenditure - the tribunal finds that the ld. CIT(A) rightly deleted the impugned additions as the AO failed to...

The Appellate Tribunal addressed the issue of penalty u/s 271(1)(c) related to the addition of closing stock. The AO levied penalty on an addition u/s 36(1)(iii) that...

The Appellate Tribunal considered the legality of additions based on a diary seized from a third party. The Tribunal held that the presumption u/s 132(4A) of the Act...

In the ITAT Delhi case, the Appellate Tribunal ruled in favor of the assessee on two key issues. Firstly, regarding unexplained cash deposits u/s 68, the AO's failure to...

Addition u/s 56(2)(viib) - Method of Valuation - share premium receipts - The Tribunal noted that the appellant had obtained a valuation report from a registered valuer,...

Assessment u/s 153A - Addition made on account of over invoicing in purchases - protective addition - The Tribunal meticulously examined the evidence and submissions...

The ITAT Delhi addressed the validity of additions in an assessment u/s 153A without incriminating material post a search u/s 132. Citing Abhisar Buildwell (P) Ltd., the...

Unexplained expenditure - certain entries were found unmatched / not accounted for in the books of accounts in the expense ledger of the assessee - The assessee...

Addition u/s 68 - unexplained cash credits - Onus to prove - CIT(A) deleted addition - The Tribunal found that the assessee failed to discharge its onus of proving the...

Assessment u/s 153C - Addition u/s 69A - Certain incriminating documents/information contained in the seized material pertained to the assessee, the proprietor found...

The Appellate Tribunal considered the disallowance of club expenses to determine if they were incurred for business purposes. It held that the Assessing Officer's...

The ITAT Delhi considered an appeal regarding the addition u/s 56(2)(viib) read with rule 11UA due to a difference in the valuation of shares, analyzing the impact of...

Deemed dividend u/s 2(22)(e) - The AO held that loans received by the assessee from the Company constituted deemed dividends. However, the Appellate Tribunal found that...

Quick Updates: