ITAT Delhi dismissed an appeal from a gaushala society, upholding the denial of its income tax exemption due to the lack of mandatory registration under Section 12AA.
Mumbai ITAT rules that an addition under Section 43CA cannot be sustained without a reference to the Departmental Valuation Officer (DVO), especially when the taxpayer specifically requests it. This case highlights the importance of fair valuation in property transactions.
The ITAT Delhi quashed the reopening of an assessment for Rudra Buildwell Homes Pvt. Ltd., citing a lack of proper sanction. It also deleted a Rs. 20.25 crore addition, noting it constituted a double taxation.
The ITAT Delhi has ruled that an entire amount of accommodation entries cannot be taxed. It reduced the commission rate to 0.4% in the case of a taxpayer.
ITAT Mumbai rules that 100% disallowance of alleged bogus purchases is unsustainable. The court directs taxing only the profit element after adjustments.
ITAT Jabalpur sets aside the ex-parte dismissal of a taxpayer’s appeal, remanding the case for a fresh hearing on the validity of a reassessment and income addition, citing a violation of natural justice.
The ITAT has remanded a tax appeal to the CIT(A) for a fresh review after the assessee’s submissions regarding excess stock were not considered in an ex-parte order.
ITAT Pune upholds a penalty imposed under Section 271(1)(b) of the Income Tax Act for a taxpayer’s failure to comply with statutory notices from the Assessing Officer.
The ITAT has remanded a tax case to the AO for a new assessment, ruling that the addition of Rs. 2.53 crore in bank deposits was made without proper verification.
The ITAT Lucknow has ruled that a CIT(A) cannot dismiss an appeal for non-prosecution, emphasizing the need for a speaking order on merits under Section 250(6) of the Income Tax Act
