ITAT Mumbai dismisses an appeal from the Income Tax Office, ruling that a charitable trust’s reported income accumulation was a punching error.
Kanchenjunga Distilleries & Liquors Vs DCIT (ITAT Kolkata) Late Audit Report No Bar -Substance Over Form – ITAT Kolkata Deletes Disallowance of ₹2.07 Cr for Belated Form 10CCB Assessee filed return of income on 22.12.2021 declaring nil income after claiming deduction of ₹2.07 crore u/s 80IE. The extended due date for return filing was 15.03.2022 […]
ITAT Kolkata rules that a PCIT cannot initiate a Section 263 revision based solely on an AO’s proposal without independent satisfaction, quashing the revisionary order.
The Patna High Court granted bail to an accused in a PMLA case, ruling that the rigors of Section 45 should be balanced with Article 21’s right to liberty, especially when predicate FIRs have been quashed or stalled.
ITAT Bangalore set aside a tax appeal after NFAC dismissed it without reviewing the taxpayer’s submissions. The case involves the rejection of books and a profit estimation.
ITAT Bangalore rules that the genuineness of a charitable trust’s activities, not the amount of its expenditure, determines its eligibility for tax registrations.
ITAT Bangalore directed the re-evaluation of a trust’s classification as religious and its denial of tax-exempt status, citing a failure to consider all relevant documents.
ITAT Chennai deletes a ₹832 Cr tax addition on share purchases, ruling that statutory valuation rules under Rule 11UA take precedence over third-party pricing.
The ITAT Chennai has quashed reassessment proceedings against Ashok Leyland Ltd., ruling the AO’s action was based on a change of opinion and not a failure by the assessee to disclose material facts.
The ITAT Chennai has canceled a penalty against Anna University’s Institute for Ocean Management after the underlying tax addition was deleted by the CIT(A).
