ITAT Cochin rules that cash deposits made during demonetization from prior withdrawals cannot be added as unexplained money in the absence of contrary evidence.
Gujarat High Court quashes Punjab National Bank’s tax assessment, citing non-application of mind and imposes an exemplary cost of ₹1 Crore on the tax authorities.
ITAT Mumbai rules on gift tax for step-siblings. Case examines relative definition under Section 56. Legal analysis of tax implications.
ITAT Pune ruled that Section 68 applies only to amounts credited in the relevant year. Addition of ₹10L as unexplained cash credit for AY 2016-17 was deleted.
Asha Viren Raj Vs ITO (ITAT Mumbai) The Asha Viren Raj Vs ITO (ITAT Mumbai) case revolves around the contentious issue of reassessment under Section 147 of the Income Tax Act, 1961, and the taxation of commodity transaction income. The original assessment for Assessment Year (AY) 2012-13 was completed under Section 143(3). However, the Income […]
ITAT Mumbai rules that the 10% tolerance limit under Section 50C/56(2)(x) is curative and applies retrospectively, impacting property valuation disputes.
ITAT Bangalore upheld CIT(A)’s acceptance of additional evidence in local language, dismissing AO’s addition under Section 69A. Read the case details here.
ITAT Bangalore set aside penalty orders under Section 271B due to improper notice delivery to an unrelated email ID and failure to provide adequate response time.
ITAT Bangalore rules in favor of Udaya Ravi Arecanut Co., stating that tax retention without legal backing is unjust. Case remitted for fresh adjudication.
ITAT Mumbai quashes reassessment order in Raghunandan Bhomia vs DCIT case, citing failure to provide reasons for reopening assessment, violating legal precedents.
