Mumbai ITAT set aside an income addition for property purchase, citing non-service of notices. The Tribunal accepted documented evidence of property funds from the assessee’s son, husband, and bank loan.
ITAT Bangalore ruled cash and gold found during a search, unrecorded in books and undisclosed in the original return, are taxable as undisclosed income under Section 115BBE.
ITAT Delhi set aside a reassessment where the AO failed to dispose of assessee objections before completing the assessment, citing a violation of mandatory procedure.
Delhi ITAT voids reassessments for Arpit Goel (AY 2009-12) due to undated reopening reasons and lack of mandatory Section 151 sanction, deeming orders void ab initio.
Chennai ITAT ruled a time gap between cash withdrawals and deposits doesn’t justify income addition under Section 69. Assessee proved source from prior withdrawals, overturning unexplained income assessment.
The ITAT Bangalore ruled that St. Joseph Engineering College Alumni Association cannot be denied 12AB registration solely for not incurring substantial expenditure. Genuineness of activities, including proposed activities, is key for registration under Section 12AB.
The ITAT Bangalore ruled in favor of Lakshmanram Bheemaji Purohit, deleting an addition for alleged bogus purchases. The court held that no disallowance can be made when an assessee files income under Section 44AD without exceeding turnover limits.
Mumbai ITAT grants relief to senior citizen Neeta Rohit Patel, quashing interest under Sections 234B & 234C on exempt partnership income. Landmark ruling clarifies advance tax exemption.
Madras High Court dismissed appeals in CIT vs Bharat Promoters, affirming ITAT’s role as final fact-finding authority on development and commission expenses.
Madras High Court rules property transfer for capital gains is based on effective date, not registration date. Section 50C application is clarified where transfer conditions under Section 2(47)(v) are met in prior years.
