ITAT Cuttack Judgments — September 2023

The Tribunal dismissed the revenue's appeal on the grounds of tax effect being below the prescribed limit. Additionally, the Tribunal found no reason to interfere with the CIT(A)'s order on merits, as it followed the principles laid down by a co-ordinate bench.

The Tribunal held that issuing a show cause notice is compulsory before making any adjustment under Section 143(1). Since no such notice was issued, the intimation is liable to be quashed.

The Tribunal acceded to the request of the assessee's counsel to withdraw the appeals. Consequently, the appeals filed by the assessee were dismissed as withdrawn.

The Tribunal restored the issues to the file of the Assessing Officer for re-adjudication, directing the assessee to cooperate and provide all necessary details.

The Tribunal acceded to the request of the assessee's counsel to withdraw the appeals. Consequently, the appeals filed by the assessee were dismissed as withdrawn.

The Tribunal held that since the primary reason for reopening the assessment (difference in purchases) was reconciled and no addition was made, the reopening itself failed. Additionally, the estimation of income was made without comparable cases, leading to its deletion.

The Tribunal condoned the delay in filing the appeal due to the assessee's medical treatment. It held that the assessee should be granted an adequate opportunity to substantiate his claims regarding the loans and advances before the Assessing Officer.