ITAT Cuttack Judgments — June 2018

The Tribunal partly allowed the assessee's appeal by restoring certain issues to the AO for re-examination based on previous ITAT orders. The Revenue's appeal was dismissed as the CIT(A)'s order was found to be reasoned and supported by precedent.

The Tribunal partly allowed the assessee's appeal by restoring certain issues to the AO for re-examination based on previous ITAT orders. The Revenue's appeal was dismissed as the CIT(A)'s order was found to be reasoned and supported by precedent.

The Tribunal acceded to the assessee's request and permitted the withdrawal of the appeal. Consequently, the appeal filed by the assessee was dismissed as withdrawn.

The Tribunal upheld the CIT(A)'s decision to restrict the addition to Rs. 17,05,527/- as the assessee had accepted this amount. However, the Tribunal confirmed the addition of Rs. 6,439/- for the closing balance of a savings account which the assessee failed to disclose in the balance sheet.