ITAT acknowledged the taxpayer’s claim under Section 54F, despite its late submission, and instructed the AO to verify the claim and provide appropriate relief. The ITAT cited a jurisdictional High Court ruling that allows taxpayers to raise additional claims, provided they are legitimate.
ITAT Mumbai rules Section 115JB of Income Tax Act does not apply to SBI for AY 2006-07, exempting banks from MAT provisions before 2012.
ITAT Mumbai allows pre-possession interior fit-out expenses as cost of improvement for capital gains, setting aside AO/CIT(A) disallowance.
Delhi High Court permits B. Braun Medical India’s GST ITC claim, overriding a supplier’s GSTN error. Court focused on factual supply and no double claims.
Kerala High Court allows ITC claim for late GSTR-3B filings, citing extended time limits under Section 16(5). Order re-evaluation mandated.
Delhi High Court dismisses appeal, citing Tecmax Electronics’ negligence in tracking order, leading to delayed CESTAT filing.
ITAT Mumbai permits bad debt write-off without proof of irrecoverability, protecting legitimate transactions amidst NSEL issues. (159 Characters)
ITAT Delhi remits appeal due to CIT(A) dismissal without proper notice, ensuring fair hearing in assessment year 2011-12 case. (159 Characters)
ITAT Bangalore allows appeal, deleting addition for demonetization cash deposit, accepting claim of mother’s savings as source. (159 Characters)
Provisions of Section 44AB, which mandate Tax audit, are not applicable to fictional income provisions like Section section 68, 69, 69A, 69B, 69C& 69D
