ITAT Chennai’s ruling in the case of Fathima Jewellers vs. DCIT clarifies that excess gold jewellery stock found during a survey isn’t unexplained investment under IT Act.
The Income Tax Appellate Tribunal (ITAT) in Pune deleted the penalty in the Jyoti Paper Udyog Ltd Vs. ACIT case due to non-production of Form No. 3CEB under Section 92E.
ITAT Pune directs reconsideration of an appeal by Gajanana Developers against disallowance of deduction under Section 80IB(10) of the Income Tax Act. Find out more.
In a case of Vikram Dhirani vs. DCIT, ITAT Delhi rules in favor of the assessee, deleting the penalty under section 271AAA due to the lack of opportunity to explain undisclosed income source during search proceedings.
Neeraj Gas Movers successfully argues for the validity of a rectified partnership deed, leading to the approval of salary and interest claims by ITAT.
DCIT vs. Krishan Kumar case: ITAT Delhi dismisses appeal by the Department regarding share transaction, ruling it doesn’t fall under the CBDT Circular exception.
In the case of Shekhar Bharti vs. ITO (ITAT Delhi), the article explores how the valuation report was discredited, affecting the tax assessment.
In the Subba Raju Chekuri Vs. ITO case, ITAT Hyderabad remands matter due to the failure of the assessee to provide evidence for Section 54F deduction claim.
In an income tax penalty case, ITAT Chennai dismisses the appeal, upholding that advances received by Dr. M.N. Kumaresan constitute gifts and are exempt from penalty under section 271D.
Read about ITAT’s decision to allow bonus deduction under Section 43B of the Income Tax Act for Adani Power Ltd. for Assessment Year 2019-20.
