Pilani Industrial Corporation Limited Vs ACIT (ITAT Delhi) case analysis. The ITAT Delhi ruled that cash deposits during demonetization can’t be deemed unexplained without rejecting the books of account. Full text of the order included.
Read the detailed analysis of Kolkata ITAT’s ruling allowing deduction under Section 80M of the Income Tax Act for dividends distributed by Purnasons Pvt Ltd vs ITO.
In the case of DCIT vs. Paranjapee Schemes Construction Ltd., ITAT Mumbai rules no disallowance under Section 14A of the Income Tax Act is warranted for investments not yielding tax-free income.
ITAT Ahmedabad allows appeal by Sunpack Barrier Films Pvt Ltd against additional tax demand due to delay in filing Form No. 10-IC, condoned per CBDT Circular No. 19/2023.
ITAT Ahmedabad rules against reopening of assessment for protective addition when based on assumptions, deleting the addition. Read the detailed analysis here.
Read the detailed analysis of Delhi ITATs decision in MDLR Airline Vs DCIT case, highlighting the lack of proper approval under Section 153D of the Income-tax Act.
ITAT Delhi rules that the accepted investment source by AO cannot be rectified under Section 154, quashing the income tax assessment order.
ITAT Chennai upholds addition on LTCG arising from purchase and sale of shares due to failure to produce documents. Read the full analysis of the case.
Detailed analysis of ITAT’s decision to delete the Section 69C addition for capital introduced by a partner in the Shivam Developers vs DCIT case at Ahmedabad.
ITAT Hyderabad remands Jonna Iron Mart Vs ACIT case regarding Section 41(1) addition due to lack of discussion on Sundry Creditors difference by Income Tax Authorities.
