ITAT Cuttack Judgments — April 2026

The Tribunal set aside the CIT(Appeals)'s order and remanded the matter back for a fresh hearing. The assessee was cautioned to cooperate with the proceedings.

The Tribunal found that the issue of TDS applicability and the doctrine of mutuality were not adequately addressed. Therefore, the matter was remitted back to the CIT(A) for a fresh adjudication on both the legal and merit aspects.

The Tribunal held that Section 43CA applies to the transfer of tangible immovable property (land or building). Transferable Developmental Rights (TDRs) are intangible rights and not land or building per se. Following judicial precedents, the Tribunal found no infirmity in the CIT(A)'s order deleting the addition.

The Tribunal held that Section 50C is applicable only to capital assets and not to stock-in-trade. Based on documentary evidence and consistent accounting treatment, the land was considered stock-in-trade, making Section 50C inapplicable.

The Tribunal found that the case was selected for scrutiny specifically regarding cash deposits, which were indeed higher than the declared turnover. Considering the assessee's plea for another opportunity and the interests of justice, the issue was remitted back to the Assessing Officer for fresh adjudication.

The Tribunal held that while the assessee was negligent, principles of natural justice require a reasonable opportunity to present their case. Therefore, the CIT(A)'s order was set aside, and the matter was restored to the Assessing Officer for de novo adjudication.

The Tribunal dismissed the appeal of the assessee due to the inordinate and unexplained delay in filing the appeal. The Tribunal did not condone the delay as no sufficient cause was provided.

The Tribunal, while noting the assessee's failure to provide supporting documents, granted one final opportunity on principles of natural justice. The matter was restored to the CIT(A) for a fresh adjudication on merits.