ITAT Delhi held that not filing of Audit Report in Form 10B alongwith the return of income is a procedural omission only and cannot be impediment in law in claiming the exemption under section 11 of the Income Tax Act.
ITAT Ahmedabad held that matter needs to be remanded back as assessee failed to furnish corroborative documentary evidence to prove cash sales during demonetization period and certain proofs were submitted only before the present tribunal.
ITAT Mumbai held that notice issued u/s. 274 r.w.s. 271(1)(c) of the Income Tax Act without specifying the particular limb is unsustainable in law. Accordingly, the penalty imposed u/s. 271(1)(c) is not sustainable.
ITAT Mumbai deletes disallowance of capital gains by DCIT after confirming investment in property with Charity Commissioner approval. Appeal dismissed.
ITAT Mumbai held that confirmation of addition u/s. 69A and 68 of the Income Tax Act without finding any fault with the evidence submitted justifying the transaction is totally unlawful and accordingly liable to be set aside.
ITAT Ahmedabad held that invocation of section 263 by PCIT unjustified due lack of sufficient evidence to support claim that the order is erroneous and prejudicial to the interest of revenue.
ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when return is filed belated return of income under section 139(4) of the Income Tax Act.
AO was not justified in addition of interest expenses debited in the P&L account, a sum of Rs.2,12,94,836/- was capitalized towards CWIP under Section 36(1)(iii) of and added to the total income of the assessee.
ITAT Chennai held that the assessee is a cottage industry and the entire income is attributable to business of the society and hence eligible to claim Interest earned on deposit also as deduction U/s.80P(2)(a)(ii) of the Income Tax Act.
ITAT Jaipur held that dismissal of appeal by CIT(A) holding it to be barred by limitation unjustified as CIT(A) failed to consider that appeal was filed in physical form and filing of appeal is not delayed.
