Delhi High Court ruled that a penalty under Section 271E was time-barred, clarifying that limitation period begins with Assessing Officer’s initiation.
Ahmedabad ITAT deletes a penalty under Section 270A for a deduction on education cess. The court ruled the claim was bona fide and not a case of misreporting.
The ITAT Ahmedabad has deleted a Rs.5.21 crore addition to income, ruling that the reassessment was invalid due to a lack of independent verification of the evidence.
ITAT Jodhpur quashes a rectification order, ruling a CIT(A) cannot change a decision under the guise of rectifying a mistake apparent from the record.
The ITAT Bangalore has condoned a 353-day appeal delay and set aside an ex parte order, emphasizing that the cause of the delay matters more than its length.
ITAT Jodhpur rules that the CPC cannot deny an 80P deduction on belated returns for assessment years before 2021-22, as it lacked the authority under Section 143(1).
ITAT Mumbai has ruled that when sales are genuine but purchases are bogus, only the embedded profit, typically 3%, should be added to income. The tribunal dismissed a revenue appeal, confirming the principle that entire bogus purchases cannot be disallowed.
The Mumbai ITAT quashed a penalty under section 271(1)(c) against Ideal Energy Projects, citing that merely claiming a deduction is not furnishing inaccurate particulars.
Mumbai ITAT rules that late fees under Section 234E are applicable for delayed TDS statement filings that occurred after June 1, 2015, upholding a Rs. 85,200 penalty.
The ITAT Mumbai ruled that accrued interest in a loan sale is part of the purchase consideration, not interest. This means a borrower-lender relationship doesn’t exist, and TDS is not required.
