ITAT Agra Judgments — September 2018

The Tribunal allowed the deletion of the addition under Section 40A(3) as the expenses were petty cash covered by exceptions. For the interest disallowance, the matter was restored to the AO for fresh adjudication, considering it could be allowable under business income. The appeal regarding unsecured loans was not explicitly detailed in the provided snippet but the final result indicates a partial allowance.

The Tribunal held that since the assessment order was passed under Section 143(3), it implied that the assessee had complied with the notices. Therefore, the penalty imposed for non-compliance was cancelled.

The Tribunal held that since the assessment order was passed under Section 143(3), it implied that the assessee had complied with the notices. Therefore, the penalty imposed for non-compliance was cancelled.

The tribunal held that the CIT(A) exceeded his jurisdiction by introducing a new source of income not considered by the AO. The addition of interest income was made in violation of principles of natural justice and lacked jurisdiction.