ITAT Delhi rules that Section 50C adjustments cannot be made under Section 143(1) without referring valuation disputes to the DVO, preserving taxpayer rights.
ITAT Ahmedabad upholds deduction of GST interest & late fees, ruling they are compensatory, not penal. Read the key observations & legal precedents cited.
ITAT Delhi allows India Thermit Corporation’s appeal, ruling that scrutiny assessment under Section 143(2) bars summary processing under Section 143(1).
ITAT Kolkata partly allows Utpal Sarkar’s appeal against DCIT, addressing bogus sundry creditors and inter-unit transactions. Case remanded for further verification.
ITAT Ahmedabad decision clarifies TDS penalty under 271C, aligning with Supreme Court’s US Technologies ruling. Learn key insights here.
ITAT Ahmedabad rules in favor of Aaryan Buildspace LLP, holding that Section 43CB does not apply to real estate developers recognizing revenue under AS-9.
ITAT Visakhapatnam ruled no penalty for voluntary income disclosure post-survey, rejecting AO’s concealment claims.
ITAT Bangalore holds LTCG from Market Linked Debentures taxable at 20% under Section 112, rejecting concessional 10% rate under Section 112A. Assessee’s appeal dismissed.
ITAT Delhi deletes additions against Sanmati Jewellers due to lack of corroborative evidence and delay in 153C proceedings. Read key observations and case laws.
ITAT Delhi deleted additions made on alleged bogus purchases by Rama Hygienic Products Pvt. Ltd., citing lack of evidence and reliance on oral statements.
