ITAT Visakhapatnam condones delay, allows Britg Foundation to rectify procedural error in 12AB registration application, emphasizing substantive rights over technical lapses.
ITAT Visakhapatnam quashes reassessment for AY 2015-16, holding Section 148 notice issued after 31.03.2022 as time-barred and beyond jurisdiction.
Madras High Court held that reassessment proceedings under section 148 of the Income Tax Act initiated on the basis of change of opinion is invalid. Accordingly, appeal of revenue dismissed and substantial questions of law is answered in favour of assessee.
ITAT Jaipur held that reassessment notice under section 148 of the Income Tax Act issued by the Assessing Officer [AO], having no jurisdiction, is invalid. Accordingly, assessment order and consequent proceeding are also invalid.
ITAT Ahmedabad held that provisions of section 69A r.w.s. 115BBE of the Income Tax Act gets applicable as source of undisclosed income admitted during the course of survey not explained. Merely disclosing and paying tax doesn’t protect assessee from clutches of section 69A.
ITAT Ahmedabad held that addition by adopting Percentage Completion Method cannot be sustained as department already accepted Project Completion Method in earlier years. Accordingly, appeal allowed and addition set aside.
Gujarat High Court held that interest from co-operative bank is eligible for deduction under section 80P(2)(d) of the Income Tax Act as Cooperative bank is a Cooperative society registered under the Gujarat State Cooperative Societies Act. Accordingly, appeal of revenue dismissed.
Assessee had added the amount of Anti-dumping duty while self-assessing the customs duty liability which could not take the character of duty, therefore, the amount should not have been retained and was refundable.
Penalty under section 271(1)(c) was not to be levied as Explanation 7 to section 271(1)(c), which specifically governs penalty in transfer pricing cases, was neither invoked during the initiation nor discussed while levying the penalty and neither TPO nor CIT(A) ever held that the ALP was computed outside the statutory provisions, or that the study report lacked diligence or was not prepared in good faith.
Gujarat High Court rules manual excise returns valid for CENVAT credit transition to GST, citing technical glitches; protects taxpayer’s vested rights.
