The ITAT Ahmedabad quashed a reassessment for AY 2012–13, ruling the property sale transaction occurred in an earlier year, invalidating the additions made.
The ITAT Ahmedabad deleted an addition of Rs. 18.51 lakh, ruling that pre-marriage gifts and substantiated contract income were not unexplained cash deposits.
The ITAT Ahmedabad quashed reassessments for AYs 2017-18 & 2018-19, ruling notices issued beyond 3 years were invalid as the escaped income was below Rs. 50 lakhs.
The ITAT Ahmedabad ruled in favor of an agriculturist, holding that once the assessee provides primary evidence for cash deposits, the burden shifts to the Revenue to provide contradictory evidence.
The ITAT Ahmedabad deleted a Rs. 26.49 lakh addition, ruling that foreign remittances into an NRE account were a valid source for a property purchase.
The ITAT Ahmedabad deleted a ₹16.69 lakh addition, ruling that Section 69A cannot be invoked mechanically when the assessee provides evidence of business receipts.
The ITAT Delhi remanded a case to the CIT(A) to determine if the Assessing Officer had an independent belief to reopen an assessment, or if it was based solely on an audit objection. A dissenting opinion quashed the reopening as a change of opinion.
The ITAT Mumbai deleted an addition made under sections 69A and 69C, ruling that an addition based solely on loose papers and a third-party statement without corroboration is not valid.
The ITAT Bangalore ruled that late filing of Form 67 is not fatal to a Foreign Tax Credit claim, as the requirement is procedural, not mandatory.
ITAT Pune ruled that a pending appeal does not prevent a CIT from exercising revisionary powers on unrelated issues that were not part of the original appeal.
