2023-TIOL-1093-ITAT-DEL

ITO Vs Cinflex Infotech Pvt Ltd

Whether addition u/s 68 can not stand when burden of proving genuineness of transactions and creditworthiness of parties stood discharged - YES : ITAT

- Revenue's appeal dismissed: DELHI ITAT

2023-TIOL-1092-ITAT-MUM

C Mahendra Exports Ltd Vs DCIT

Whether if the purchase is held to be bogus, only the profit embedded in the said purchase should be added as opposed to the entire purchase - YES: ITAT

- Assessee's appeal allowed: MUMBAI ITAT

2023-TIOL-1091-ITAT-KOL

Divine Alloys And Power Company Ltd Vs DCIT

Whether since the assessee could not produce copies of bank statements, he has failed to satisfactorily discharge his onus in establishing the genuineness of the transaction and same calls for addition u/s 68 – YES: ITAT

Whether purchase order duly substantiated with proper bills and accounting entries shown through banking channel, cannot be treated as bogus - YES: ITAT

- Assessee's appeal dismissed: KOLKATA ITAT

2023-TIOL-1090-ITAT-PUNE

Gaganvihar Sahakari Gruhrachana Sanstha Maryadit Vs ITO

Whether where deduction u/sec. 80P(2)(d) is not claimed in the return of income, the AO necessarily cannot make addition implying the applicability of Section 80P(2)(d) of the Act - YES: ITAT

Whether AO can proceed to disallow deduction u/s 80P of the Act where the same was never claimed by the assessee in ITR, in which case, the AO has travelled beyond the scope of the ITR - NO: ITAT

- Appeal allowed: PUNE ITAT

2023-TIOL-1089-ITAT-BANG

Ace Developers Vs DCIT

Whether section 40A(3) cannot be applied if cash payments made due to business expediency and being genuine transaction and parties are identifiable - YES : ITAT

- Assessee's appeal partly allowed: BANGALORE ITAT