Explore the detailed analysis of the penalty imposed on Jhalawar Kendriya Sahakari Bank Ltd. by ITAT Jaipur in the case against ADIT (I&CI) for the assessment year 2019-20.
Explore the case of K.S. Chawla & Sons (HUF) Vs JCIT, where ITAT Delhi delves into penalty proceedings under section 271D of the Income-tax Act, 1961, with detailed analysis & conclusions.
ITAT upholds penalty against taxpayer for cash repayment of loans, contravening Section 269T of Income-tax Act. Explore implications and alternatives.
Pinkcity Jewelhouse Pvt. Ltd. Vs PCIT (ITAT Jaipur) ITAT Quashes Section 263 proceeding which were merely based on audit objections and lacked an independent assessment
ITAT Delhi held that revisional jurisdiction u/s. 263 of the Income Tax Act not invocable in absence of any error or infirmity in the assessment order which could make the assessment order erroneous and prejudicial to the interest of revenue.
ITAT Bangalore overturns PCIT’s directive to disallow 80P deduction without proper claim, emphasizing lack of error prejudicial to revenue.
Twinings Pvt. Ltd. vs. DCIT: ITAT Kolkata allows gratuity payment as salary expense u/s 37(1) of IT Act, rejecting disallowance u/s 36(1)(v).
ITAT Delhi held that in order to claim exemption under Section 13A of the Income Tax Act by the political party it is necessary to furnish return of income by the ‘due date’ as per Section 139 of the Income Tax Act.
ITAT Delhi remits WLD Investments Pvt Ltd’s case back to AO for fresh assessment on loss and interest disallowance issues, emphasizing fair reassessment.
Read how ITAT Delhi deleted penalty u/s 271AAB of the Income Tax Act due to a defective notice in Landcraft Developers (Pvt.) Ltd Vs ACIT case.
