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Archive: 26 February 2025

Posts in 26 February 2025

Form 10BB Validation Delay: ITAT allows Section 10(23C)(vi) Exemption

February 26, 2025 312 Views 0 comment Print

ITAT Mumbai grants ₹4.07 crore tax exemption under Section 10(23C)(vi) despite procedural delay in Form 10BB validation, overturning CIT(A)’s ruling.

ITAT Invalidates Reopening Based on Unverified Investigation Wing Info on Bogus Commodity Profits

February 26, 2025 4815 Views 0 comment Print

ITAT Kolkata rules in favor of Kishore Trading Co., declaring the reassessment under Section 147 invalid due to lack of independent verification.

ITAT Bangalore remands case on interest income deduction u/s 80P(2)(a)(i) to AO

February 26, 2025 423 Views 0 comment Print

ITAT Bangalore remands case on interest income deduction u/s 80P(2)(a)(i) to AO, citing legal precedents. Tribunal finds errors in assessment and CIT(A) order.

Section 250(6): CIT(A) / NFAC order Must Include Reasons for determination

February 26, 2025 603 Views 0 comment Print

ITAT Pune directs fresh adjudication after CIT(A) dismisses appeal without a reasoned order under Section 250(6) of the Income Tax Act.

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