ITAT ruled that a justice-oriented approach should prevail over technical objections. Matter remanded for adjudication on merits.
ITAT ruled that genuine sale proceeds supported by books, bank records and purchaser details cannot be treated as unexplained cash credits.
ITAT Kolkata held that a loan received by a company that was not a shareholder of the lender could not be taxed as deemed dividend under Section 2(22)(e).
ITAT Kolkata held that the CIT(A) wrongly dismissed the appeal as time-barred despite evidence showing it was filed within limitation. The matter was restored for decision on merits through a speaking order.
ITAT held that CPC could not make adjustments under Section 143(1) without issuing the mandatory prior intimation. The order was quashed and the assessees appeal was allowed.
Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Group and covered Assessment Years (AYs) 2020-21 to 2023-24. Although several legal grounds were initially raised, the assessees did not press those grounds during the hearing. Accordingly, the Income Tax Appellate Tribunal (ITAT), Chandigarh, confined itself to deciding […]
ITAT held the assessment time-barred as the AO failed to pass the final order within the mandatory timeline under Section 144C(13).
Tribunal partly allowed the assessee’s appeals by granting relief on transfer pricing, scientific research deduction, product registration expenses, section 14A/MAT adjustment, and forex hedging losses, while upholding the disallowance of expenditure on freebies to doctors and delayed employees’ welfare contributions.
ITAT held that mere transfer of records cannot replace a valid transfer of jurisdiction under Section 127, rendering the assessment invalid.
ITAT Raipur held that penalty under Section 271D could not survive where the assessment order contained no satisfaction for initiating such proceedings. The penalty was quashed for lack of valid jurisdiction.
