Gyandeep Charitable Trust’s appeal against the denial of exemption under section 11 of the Income Tax Act, due to a delay in filing Form 10B, is upheld by ITAT Ahmedabad, citing procedural nature.
Mumbai ITAT invalidated the assessment against Good Shepherd Church due to reopening based on incorrect grounds. Get insights from the detailed analysis of the case.
Mumbai ITAT’s ruling on Colorplus Realty Limited vs. Dy. CIT case regarding deduction u/s 80IB for compensation received from insurance company for destroyed goods before sale.
Ahmedabad ITAT rules that if identity, creditworthiness, and genuineness of transaction are established, loans from shell companies can’t be treated as unexplained under section 68.
Read how the Delhi ITAT nullifies the reassessment of AEP Investments (Mauritius) Ltd. vs ACIT, citing lack of prima facie evidence of income escapement. Full order analysis.
Discrepancies in KYC docs don’t constitute incriminating material. ITAT cancels income tax addition for Renukamata Multi-State Co-op Society Ltd. vs ACIT.
Ahmedabad ITAT dismisses appeal, denying LTCG exemption under Section 10(38) for bogus scrips. Read the full text of the order.
Kolkata ITAT deletes additions made without examining nature of expenditure, criticizing AO’s careless attitude. Full text of the order available.
ITAT Jodhpur rules that possession of transport vehicles is sufficient for Section 194C TDS exception, emphasizing the significance of beneficial ownership.
ITAT Mumbai held that consideration for sale distribution or exhibition of cinematographic films would not fall under the domain of “Royalty” and accordingly TDS not deductible on the same.
