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Ca Saurabh Jadhav

Latest Posts by Ca Saurabh Jadhav

No Addition Under Section 69 If Source Declared in Balance Sheet: ITAT Pune

March 19, 2025 114 Views 0 comment Print

ITAT Pune rules no addition under Section 69 if investment source is disclosed in the balance sheet. Partial relief granted for unexplained cash deposits.

ITAT Pune Directs CIT(A) to Decide Appeal on Merit

March 18, 2025 105 Views 0 comment Print

ITAT Pune remands Ask Chemicals India’s appeal to NFAC, directing it to adjudicate on merits rather than dismissing for non-prosecution.

Addition of bogus LTCG u/s 68 deleted to prevent double taxation: ITAT Pune

March 16, 2025 276 Views 0 comment Print

Ashok Vijaykumar Kotecha Vs ACIT (ITAT Pune) In the case of Ashok Vijaykumar Kotecha vs. ACIT, Circle-1, Jalgaon (ITA No. 1453/PUN/2023), the Income Tax Appellate Tribunal (ITAT) Pune ruled in favor of the assessee, deleting the addition of ₹1.52 crore made under Section 68 of the Income Tax Act, 1961. Case Background The assessee, Ashok […]

Section 115BBE not applicable to business income declared during survey: ITAT Pune

March 16, 2025 318 Views 0 comment Print

ITAT Pune ruled that Section 115BBE does not apply to business income declared in a survey. Read the case details and implications for taxpayers.

Income Tax Rule 128 for claiming foreign tax credit is directory in nature: ITAT Pune

March 13, 2025 1065 Views 0 comment Print

ITAT Pune rules that Rule 128 for claiming Foreign Tax Credit is directory, not mandatory. Belated filing of Form 67 does not disqualify FTC claims.

ITAT Mumbai Quashes Reassessment Proceedings Against Shah Rukh Khan

March 8, 2025 6978 Views 0 comment Print

ITAT Mumbai invalidates reassessment against Shah Rukh Khan for FY 2012-13, addressing foreign tax credit claims and procedural flaws in reopening under Section 147.

Reassessment not valid if no application of mind by AO: ITAT Pune

March 2, 2025 675 Views 0 comment Print

Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” has ruled in favor of Aadhunik Infrastructure Development Pvt. Ltd. (formerly Gauri Plasticulture Pvt. Ltd.), setting aside the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961, for the Assessment Year 2012-13. The appeal […]

No penalty under Section 271(1)(c) if income declared during search & seizure

March 2, 2025 687 Views 0 comment Print

ITAT Pune rules in Ramchandra Jadhavrao vs. ACIT that no penalty under Section 271(1)(c) applies if income is declared in return post-survey.

No retrospective cancellation of Section 12A registration of Trust: ITAT Pune

February 22, 2025 729 Views 0 comment Print

M.M. Patel Charitable Trust Vs PCIT (Central) (ITAT Pune) In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Pune has overturned the order of the Principal Commissioner of Income Tax (PCIT), which had canceled the registration of M.M. Patel Public Charitable Trust under Sections 12A and 12AB of the Income Tax Act, 1961. The […]

No Foreign Tax Credit Denial for Filing Belated Form 67: ITAT Pune

February 11, 2025 228 Views 0 comment Print

ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sadashiv Karkare vs. ITO.

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