ITAT rulings highlight that an unsigned notice is legally invalid, undermining the Assessing Officer’s jurisdiction and any penalties for non-compliance.
ITAT Delhi deletes ₹1.33 Cr addition on cash sales as jeweller proved validity through books, invoices, stock records, and audit trail for demonetization period.
Artemis Medicare Services Limited Vs ACIT (ITAT Delhi) Assessee can not be Deemed ‘Assessee in Default’ for year-end Provisions reversed in next year The ITAT, in this case held that the assessee cannot be treated as an ‘assessee in default’ u/s 201(1) merely for making year-end provisions where the payees were unidentifiable, and the provisions […]
Delhi ITAT upholds disallowance of interest under Section 57 and commission expenses due to lack of evidence of business use and genuineness.
ITAT Delhi upheld tax addition under Section 68 as assessee failed to prove identity and creditworthiness of investors in high-premium share transactions.
ITAT Mumbai rules earning nominal profit by a Sec 12A registered trust with general public utility objects doesn’t violate Sec 2(15) proviso, allowing Sec 11 exemption.
SC rules Sub-Registrars cannot verify vendor’s title during registration; Rule 55A(i) of Tamil Nadu Registration Rules declared inconsistent with Registration Act.
ITAT Bangalore deletes additions under Section 69 citing presumptive taxation under Section 44AD and lack of supporting evidence by the AO.
8% deemed profit rate as specified u/s 44AD is not a fixed standard & may vary depending on nature of business – Reduces profit margin on milk sales from 8% to 3%
Home of Love Vs ITO (ITAT Cochin) Assessee is a charitable institution who filed its return of income which was processed u/s 143 granting exemption u/s 11. Thereafter, CPC issued a notice u/s 154 denying the said exemption by stating that Form 10B was not filed within prescribed time, without giving assessee an opportunity of […]
