The ITAT Ranchi quashed a Section 263 order, ruling that a tax revision cannot be based solely on an audit objection or for the re-examination of an issue already reviewed by the AO.
The ITAT Ranchi upholds an assessee’s appeal, ruling that the Assessing Officer must provide evidence to substantiate additions made solely based on ITS data.
The ITAT Hyderabad ruled that an adjustment under Section 50C is not a prima facie issue when title and valuation are disputed, mandating a DVO referral.
The ITAT Hyderabad ruled against taxing a temple’s gross donations, mandating expenses be considered. It also set aside a registration rejection due to non-compliance.
ITAT Ranchi quashes orders applying the 60% tax rate of Section 115BBE to A.Y. 2017-18, clarifying the amendment is effective from A.Y. 2018-19.
ITAT Amritsar ruled that a company’s loans were not unexplained cash credits, deleting a tax addition after finding transactions were squared up through banking channels.
The ITAT Cochin has ruled against Muthoot Fincorp, confirming the disallowance of expenses due to non-deduction of TDS on a composite contract.
The ITAT Ahmedabad bench, in the case of DCIT vs. Phoenix Flexibles Private Limited held that a Commissioner of Income Tax (Appeals) cannot simply set aside a reassessment order and remand the case back to the Assessing Officer without first deciding on the jurisdictional and legal challenges raised by the taxpayer such as the validity of the notice and sanction for reopening.
The ITAT Ahmedabad case of Shah Dilip Sankarchand vs. ACIT rules on jurisdictional disputes invalidating a tax assessment notice issued by an unauthorized officer.
Delhi ITAT rules in favor of Kohinoor Foods, setting precedents on hedging losses, stock additions, and DRP jurisdiction. A key victory for consistency in tax law.
