The Kolkata ITAT upheld a Section 14A disallowance, stating there was no breach of natural justice when the AO invoked Rule 8D(2)(iii) after the assessee’s reply was considered.
The ITAT Mumbai has ruled that an employee embezzlement loss is a business deduction, confirming it can be claimed in the year of discovery as per a CBDT circular.
ITAT Mumbai has ruled that Section 68 additions cannot be made if assessee does not maintain books of account. Court also allowed a deduction under Section 80C.
The ITAT Kolkata has ruled that a legal heir is entitled to claim TDS credit on a deceased person’s income, provided the heir has offered that income for taxation.
ITAT Chennai rules that the buyer’s intention is irrelevant when classifying land. The court upholds the agricultural nature of land based on revenue records, not the buyer’s plans.
ITAT Ahmedabad rules on the admissibility of new claims during reassessment and appellate proceedings, distinguishing between the limited scope of Section 147 and the broader jurisdiction of appellate authorities.
Karnataka High Court dismisses a Revenue appeal, affirming that additions cannot be made under Section 153A without incriminating material found during a search.
ITAT Ahmedabad rules that Section 13(1)(b), which addresses trusts for specific communities, is irrelevant at the registration stage. The provision applies only during assessment to determine exemptions.
ITAT Ahmedabad deletes ₹8 Cr addition u/s 68, holding firm provided sufficient evidence; partner’s non-response to notice u/s 133(6) not held against assessee.
The ITAT Cochin has ruled that an Assessing Officer must refer a property’s fair market value to a DVO. Failure to do so invalidates any capital gains addition.
