ITAT Cuttack Judgments — February 2022

The Tribunal found that the applications for approval were filed with the department and there was no record of them being rejected or disposed of. Therefore, the issue was restored to the CIT(E) for a decision on merits.

The Tribunal held that the revisionary action under Section 263 was correct. However, it restricted the addition to the extent of Rs. 1,21,770/- for 13 absent creditors and Rs. 67,500/- for six other creditors, totaling Rs. 1,89,270/-.

The Tribunal condoned the delay in filing one of the appeals. Subsequently, both appeals were dismissed as withdrawn, as the assessee had opted for the Vivad Se Vishwas Scheme.

The Tribunal condoned the delay in filing one of the appeals. Subsequently, both appeals were dismissed as withdrawn, as the assessee had opted for the Vivad Se Vishwas Scheme.