ITAT Pune held that clause (c) of section 200A(1) was inserted by the Finance Act, 2015 w.e.f. 01-06-2015 providing for the levy of fee u/s.234E of the Act. Accordingly, levy of fee u/s. 234E is imposable only from 01/06/2015 and not prior to that.
ITAT Mumbai held that reassessment proceedings u/s 148 within limitation period specified under section 149(1) of the Income Tax Act is valid and sustainable in law.
ITAT Ahmedabad has ruled that a penalty under section 271(1)(c) is not applicable when an assessee doesn’t furnish inaccurate income details. This ruling was made in the case of Khanpur Vibhag Madhyamik Shala Karmchari Dhiran & Grahak Sahakari Mandali Limited Vs ACIT
AOP inadvertently filed their income tax return using ITR 7 instead of ITR 5. ITAT held that Income Tax Authorities are not supposed to punish assessees for their bona fide mistake.
In the case of Patel Ambalal Haridas – HUF Vs ITO, ITAT Ahmedabad orders re-evaluation of land value under section 50C, pointing to a failure to consider the Jantri value and Valuation Report. The case impacts how land value is assessed for capital gains tax purposes.
ITAT Pune in Pride Purple Properties, quashed retrospective determination of annual letting value of un-sold residential units. ITAT ruled that prospective amendments cannot apply retrospectively, providing clarity on taxation of real estate properties.
In Pavuluri Sylendra Nellore Vs ITO case, ITAT Hyderabad confirms addition under section 69C due to unexplained source of credit card payment.
Delhi High Court has directed readjudication in the case of Praveen Bansal Vs ITO, stating that the assessment order under Section 148A(b) of the Income Tax Act is not valid if the escaped income is below Rs. 50 lakhs.
ITAT Delhi has ordered a fresh adjudication in the case of TSP Engineers Pvt. Ltd. Vs ITO, challenging the addition of a loan amount to the outstanding balance without proper evidence and documentation.
ITAT Chennai’s upholds entitlement of assessee to interest on tax refund under Section 244A, emphasizing principles of fairness and equity
