ITAT quashes Rs..4.52 Cr disallowance; rules foreign agent commission and warehousing charges aren’t taxable FTS in India, thus no TDS under Section 195 required.
Anuh Pharma Ltd. Vs PCIT (ITAT Mumbai) CSR Deduction u/s 80G Disputed -Cooling Tower is Not Automatically Power – ITAT Mumbai Endorses 263 Revision-Lack of Proper Inquiry Fatal – ITAT Confirms PCIT Action Against AO’s Order; ITAT Mumbai upheld revisionary order u/s 263 against assessee, holding that AO failed to conduct proper inquiry into two […]
ITAT Delhi quashes reassessment, deleting Rs. 85 lakh Sec 69C addition. AO cannot travel beyond recorded reasons if the original reason for reopening is not sustained.
Mumbai ITAT quashes ₹1.76 Cr unexplained investment tax on NRI homemaker, ruling joint registration doesn’t justify addition when funds came solely from husband.
ITAT Delhi held that reopening under Section 148 on an incorrect PAN and with mechanical sanction by PCIT is invalid, quashing the Rs. 3.50 crore addition under Section 68 and setting aside reassessment proceedings.
ITAT quashes DCIT’s 153C assessments for Piyush Bongirwar, holding that a single diary page pertaining only to AY 2013-14 cannot justify assessment for later years without specific incriminating material.
ITAT Mumbai allows Nikhil Manjrekar’s Sec 54 claim, directing deletion of LTCG disallowance; substantive proof of property reinvestment sufficed despite technical objection.
ITAT Delhi deletes AO’s ad hoc 50% expense disallowance and excess vessel cost addition for JITF Waterways. Upholds CIT(A)’s reliance on S43(1) Expl. (6) for asset cost.
ITAT Delhi quashes search assessments for Jagat Group, ruling that a single, consolidated approval letter for multiple assessees and years under Section 153D was invalid and mechanical.
Tribunal held that interest earned on FDs from borrowed funds for a highway project under construction must be capitalized against CWIP, dismissing Revenue’s claim to tax it as income from other sources.
