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Section 80G Registration Application cannot be rejected for inadvertent error

March 18, 2024 3930 Views 0 comment Print

Explore the Kolkata ITAT’s verdict on the rejection of Sarda Mission Sevasram Viveknagar’s application for 80G approval due to a wrong clause mention, highlighting rectifiability.

ITAT deletes section 271A(d) penalty due to absence of demand notice

March 18, 2024 1278 Views 0 comment Print

Explore Kolkata ITAT’s ruling on the disallowance of the claim under section 80P by the CPC prior to April 01, 2021, deeming it beyond its jurisdiction, impacting Pairagacha Cooperative Credit Society Ltd.

Employee Contributions not deposited within PF & ESIC Act Deadlines is Disallowable: ITAT

March 18, 2024 840 Views 0 comment Print

Explore the Mumbai ITAT’s ruling on disallowing contributions to Provident Fund and ESIC if not deposited within due dates, impacting C. Doctor & Co. Pvt. Ltd.

Interest on TDS not allowable expenditure: ITAT Delhi

March 18, 2024 951 Views 0 comment Print

ITAT Pune remands Sanj Sawali Care Foundation’s 80G exemption application to CIT(E) for reevaluation after failure to produce documentary evidence. Details here.

Addition u/s. 68 unsustainable as AO failed to conduct independent enquiry to verify genuineness of transaction: ITAT Kolkata

March 18, 2024 1698 Views 0 comment Print

In Brightstar Vincom Pvt Ltd Vs ITO, Kolkata ITAT emphasizes independent inquiry by AO before adding under section 68 of IT Act.

Deduction u/s. 80IB(10) admissible only when return is furnished within due date specified u/s 139(1): ITAT Ahmedabad

March 18, 2024 822 Views 0 comment Print

Learn about the DCIT vs Umang Hiralal Thakkar case at ITAT Ahmedabad regarding filing returns under section 139(1) for claiming deduction under section 80IB. Get detailed insights and analysis.

Revisional jurisdiction u/s 263 rightly invoked as order passed without satisfying mandatory provisions of section 92CA: ITAT Mumbai

March 18, 2024 7494 Views 0 comment Print

ITAT Mumbai held that assessment order passed without satisfying mandatory provisions of section 92CA and CBDT instruction no. 3 of 2016 is order falling within the meaning of erroneous and prejudicial to the interest of revenue. Hence, revisional jurisdiction u/s. 263 of the Income Tax Act rightly invoked.

Addition u/s 68 deleted as genuineness and creditworthiness of lender proved: ITAT Delhi

March 18, 2024 1089 Views 0 comment Print

ITAT Delhi’s order on Trident Towers Pvt. Ltd vs ACIT addresses the deletion of addition under section 68 of the Income Tax Act, citing submission of requisite documents.

Difference in stock found during course of survey duly reconciled hence addition u/s 69 unsustainable: ITAT Delhi

March 18, 2024 1827 Views 1 comment Print

New Delhi ITAT rules that no addition can be made under Sec 69 if the difference in stock found during survey and recorded in books is reconciled. Detailed analysis of Ultimate Creations Vs ACIT.

Section 80P(2)(d) Deduction Eligible on Interest on Deposits with Co-Op Society 

March 18, 2024 1416 Views 0 comment Print

Chandigarh ITAT ruled interest income from cooperative bank eligible for deduction under Sec 80P(2)(d). Detailed analysis of the case.

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