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 remands Ask Chemicals India’s appeal to NFAC, directing it to adjudicate on merits rather than dismissing for non-prosecution.
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 […]
ITAT Pune ruled that Section 115BBE does not apply to business income declared in a survey. Read the case details and implications for taxpayers.
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 invalidates reassessment against Shah Rukh Khan for FY 2012-13, addressing foreign tax credit claims and procedural flaws in reopening under Section 147.
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 […]
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.
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 […]
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.
