ITAT Agra remanded a TDS short-deduction case for the second time, finding that both the AO and CIT(A) failed to comply with the Tribunal’s earlier binding directions to verify if deductees had paid taxes.
ITAT Agra granted partial relief on a cash deposit addition, accepting ₹60,000 as explained, ruling that money received back from previous advances through banking channels constitutes the assessee’s own money returned.
ITAT Delhi quashed reassessment proceedings for AY 2013-14 and 2015-16, ruling that notices issued after the extended final deadline of June 24, 2022, were time-barred under Section 149, following the Rajeev Bansal ruling.
Tribunal held that where Form 67 is submitted before the completion of assessment, foreign tax credit must be allowed even if the filing was delayed. It observed that neither the Act nor Rule 128(9) imposes disallowance for delay.
The ITAT Delhi affirmed the grant of Section 11 exemption to a charitable society, ruling that if the Assessing Officer fails to make a mandatory reference to the DVO to question a valuation, the registered valuer’s report must be accepted. Since the purchase price was lower than the valuer’s estimate, no benefit accrued to related persons.
The ITAT Delhi deleted the penalty imposed under Section 271B for failure to get accounts audited, ruling that the penalty cannot survive once the original quantum assessment (which determined the high turnover) is set aside. Since the AO later accepted the returned income, the statutory basis for the penalty lapsed.
The Supreme Court mandated specific performance for a property sale, ruling that the vendor’s acceptance of an extra payment after the initial period expired constituted a waiver of the right to terminate. The Court restored the sale decree, affirming that time is not automatically the essence in immovable property contracts.
ITAT Delhi nullified a reassessment, ruling that mandatory sanction under Section 151 was invalid because it was granted by Principal Commissioner (PCIT). Tribunal held that reopening assessments after three years requires approval from higher authority: Principal Chief Commissioner (PCCIT).
ITAT Delhi confirmed that a statutory development authority’s activities, such as land development and housing, are charitable under Section 2(15), not commercial. The Tribunal applied the principle of consistency, relying on multiple High Court and ITAT precedents for similar development bodies.
Tribunal upheld CIT(A)’s view that assessments for AYs 2013-14 to 2015-16 fell outside permissible six-year block under Section 153C. Additions made by AO were held time-barred and without jurisdiction.
