ITAT held that assessment order is bad in law as assessing authority passed order u/s 143(3) without issuing mandatory notice u/s 143(2)
Assessee must be informed of grounds of penalty proceedings through statutory notice and an omnibus notice suffers from vice of vagueness
Assessee was not keeping good health for which she was not in a position to obtain Audit Report in time, and, therefore, could not file before statutory due date
Section 199 of Income-tax Act r.w. rule 37BA(3) provide that credit of TDS shall be given for assessment year for which income is assessable
ITAT held that in this case disallowance u/s 40A(3) of the Act has not been found from the books of accounts of the assessee. Rather the plea is that the suppliers have not maintained proper books of accounts.
ITAT Chennai held that even though certificate in Form no. 10CCB was not filed along with return of income, but same was filed before the final order of assessment was made, hence the assessee was entitled to claim deduction u/s. 80IA of the Act.
Conclusion: Issue regarding claim of depreciation could not be decided until dispute regarding capitalization of expenses in assessment order was decided. Therefore, the same was restored to the file of CIT(A) with the direction to pass a fresh order in accordance with law, after providing reasonable opportunity to the assessee,
ITAT Kolkata held that addition towards undisclosed income u/s 68 of the Income Tax Act merely based on the SMS or WhatsApp messages without any corroborative evidences is unsustainable in law.
ITAT Delhi supports household savings explanation for cash deposits up to Rs.2.50 lakh, referencing CBDT Instruction and prior rulings.
ITAT Ahmedabad held that invocation of proceedings u/s 153C of the Income Tax Act unsustainable as AO has not put on record that material seized during the course of third party search belongs to the assessee.
