ITAT Bangalore upholds a Section 263 revision. An AO’s assessment order that silently accepts cash deposits and property sources, without proper inquiry, is erroneous.
ITAT Bangalore upholds additions on unexplained cash. Seized diaries of a manager and relative were valid evidence, confirming undisclosed expenditure under Section 69C.
ITAT Bangalore upholds that a cooperative society can claim an 80P deduction on income enhanced by disallowances like NPA and reserve provisions, directing the AO to recompute.
The Delhi ITAT has ruled that an inadvertent error in Form 35 cannot be grounds for dismissing an appeal. The case involves a 30-day delay, which the court found was not fatal.
The ITAT Kolkata deleted a penalty under Section 271(1)(c), finding that an assessee’s retracted admission during a search was not supported by incriminating material.
Madras High Court quashes prosecution for TDS delay. It was a staff lapse, not mala fide intent. All taxes were paid, and the trust has since been compliant.
The Delhi ITAT has invalidated assessments under Section 153C, ruling that a consolidated and mechanical approval under Section 153D is not valid. The approval must be specific to each year.
Delhi ITAT upholds the quashing of a reassessment against Punjab National Bank, ruling it was based on a mere change of opinion without new material, which is not permitted under tax law.
Delhi ITAT directs a company’s tax be recomputed at a concessional 22% rate, ruling that a delayed procedural form filing should not negate a clear intent.
ITAT Delhi: Assessment against a company in liquidation is quashed. The IBC moratori-um overrides the Income Tax Act, rendering the tax proceedings null and void.
