Mumbai ITAT remands Shankarlal Shantilal Mali’s appeal on unexplained cash deposits of over 1 crore for AY 2014-15 to CIT(A) for fresh adjudication.
In a significant ruling for taxpayers facing automated adjustments, the Income Tax Appellate Tribunal (ITAT) Pune Bench has directed the deletion of a disallowance made by the Central Processing Centre (CPC) under Section 40(a)(i) of the Income-tax Act, 1961. The tribunal held that where a subsequent detailed scrutiny assessment by the Assessing Officer (AO) has considered and accepted the taxpayer’s contentions on the same issue, that decision takes precedence.
Hyderabad ITAT remands 80G approval rejection, finding the application was dismissed solely due to a typographical error without assessee rectification opportunity.
ITAT Surat affirms penalty on Pristine Jewellery for non-compliance with tax audit requirements, rejecting claims of reasonable cause and distinguishing previous judgments.
Delhi High Court sets aside Section 148A(d) order and 148A(b) notice for Devat And Ram Company, finding AO rejected assessee’s response based solely on portal information.
CESTAT Chennai allows Piramal Enterprises customs duty remission for imported goods destroyed in a fire, citing non-applicability of exemption conditions.
Madras High Court permitted Thirumalai Balaji Constructions to file a delayed GST appeal, mandating a 25% pre-deposit of the disputed tax for 2017-18, 19-20, & 20-21.
CESTAT Delhi rules penalties under Customs Act 114(iii) and 114AA require proven knowledge and intent. Overturns penalty on shipping agency in export diversion case, citing prior ruling.
ITAT Hyderabad rules against double taxation, quashing Section 69A addition after cash source was already accepted and taxed under Section 269SS for the same amount.
ITAT Delhi rules customer contracts, assembled workforce are intangible assets, allowing Genpact’s depreciation claim and affirming cost allocation.
