An assessee’s appeal against a ₹36.34 lakh cash deposit addition was dismissed by NFAC, New Delhi, due to a procedural error. The challenge targeted a rectification order, not the original assessment.
Tax penalty under Section 271(1)(c) deleted by ITAT for an assessee whose income was misreported by a consultant, citing voluntary tax payment before notice.
ITAT directs tax authorities to grant TDS credit on the sale of exempt agricultural land, ruling denial based on non-disclosure in ITR is incorrect.
Chennai ITAT upholds deletion of additions for undisclosed profit, expenses, and stock in textile firm’s AY 2018-19 assessment following survey.
Mumbai ITAT rules on TDS credit for joint property sale where full TDS was in one co-owner’s name but income taxed by all heirs.
ITAT upholds PCIT’s revision of an assessment order. The AO failed to probe cash payment for a second property purchase, rendering the initial order erroneous and prejudicial.
ITAT Cochin rules that completing assessment under section 143(3) negates 272A(1)(d) penalty, citing acceptance of later compliance.
ITAT Kolkata permits a new deduction claim and grants relief, highlighting assessment duties and appellate powers under income tax law.
ITAT Cochin holds voluntary contributions to unregistered charitable trust taxable. Lack of 12AA registration means no Sec 11 exemption, donations taxed under Sec 2(24).
ITAT Mumbai rules revenue matching isn’t a precondition for claiming business expenses u/s 37(1). Learn about this important income tax decision.
