ITAT Kolkata nullified addition due to late issuance of Notice under Section 143(2) of Income Tax Act. ITAT concluded that Notice was sent beyond specified deadline, making assessment void ab initio.
Delhi High Court judgment directing JC. Flowers to appeal to Appellate Tribunal under Section 26 of PMLA for a claim of beneficial interest in property.
ITAT’s ruling affirms that a Co-operative Society can claim deductions for the interest income derived from a Fixed Deposit Receipt (FDR) with a Co-operative Bank.
Vinit Kumar Vs DCIT – ITAT Delhi clarified the application of Section 56(2)(vii) on properties purchased for more than the circle rate.
ITAT Hyderabad case Narasimha Rao Venkata Lakshmi Nandury Vs ITO, emphasizing that a meritorious case should not be dismissed when proper documents are produced
Explore ITAT Pune’s decision in Americhem Polymers vs ACIT. Key issue: Weighted deduction u/s 35(2AB) disallowance for non-submission of DSIR report.
In the case of Srimathi Pichara Vs ITO, ITAT Hyderabad set aside ex-parte addition of cash deposits made during demonetization period under Section 69A of Income Tax Act. ITAT directed Assessing Officer to readjudicate the matter after providing an opportunity to assessee to produce relevant documents for fact verification
In the case of Amrita Jhaveri Vs DCIT, ITAT Mumbai ruled that non-resident individuals are not required to disclose assets held outside India in their Indian income tax returns. The ITAT quashed the re-assessment order based on vague and general reasons, stating that income chargeable to tax had escaped assessment.
ITAT Delhi has ruled that additions made under Section 153C of Income Tax Act cannot be sustained without any incriminating material found during a search and seizure operation.
Exide Industries, a registered company under the Goods and Services Tax Act, has failed to receive a time extension from GST authorities to respond to a show cause notice. The Madras High Court has set aside the orders passed by the respondent and granted 30 days to file an explanation on pending queries.
