The Tribunal found that additions were made without examining detailed reconciliation and evidence. It remanded the case for fresh verification, emphasizing proper factual ...

The Tribunal ruled that holding investments capable of generating exempt income does not trigger Section 14A. Without actual exempt income, no disallowance can be made. This decision curbs automatic ...

ITAT Bangalore quashed Section 263 revision, holding that AOs acceptance of FMV based on valuers report was a plausible view after enquiry and non-reference to DVO or non-initiation of penalty cannot ...

The Tribunal held that strict correlation between withdrawals and deposits is not required under Section 69. It ruled that reasonable cash availability and explanation based on probabilities is ...

The Tribunal held that leave encashment relating to government service remains fully exempt under Section 10(10AA). It ruled that later absorption into a PSU does not change the nature of the ...