ITAT Kolkata rules Sec 263 cannot exceed reassessment scope, limits revision period. Disallowances u/s 40A(3) sent back for scrutiny.
ITAT Kolkata removes ₹1 crore penalty under Sec 271E, ruling cash transaction between sister concerns as reimbursement, not loan repayment.
Kolkata ITAT allows appeal by Youth Potent Potation, overturning disallowances on partners’ salary, staff expenses, accounting charges, and donations for AY 2015-16.
ITAT Kolkata held AO’s order under Section 144C(13) was passed beyond limitation; quantum appeal allowed, stay application dismissed.
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.
