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ITAT Upholds Cancellation of Registration for Trust Building Leasing Income

May 23, 2024 1974 Views 0 comment Print

ITAT Pune upheld the cancellation of Golden Charitable Trust’s registration, citing commercial activity from leasing property. Read the detailed analysis of the order.

Non-resident’s salary/allowances for services rendered abroad not taxable in India

May 23, 2024 3156 Views 0 comment Print

ITAT Delhi rules non-resident’s salary for services rendered abroad not taxable in India, providing significant relief under India-Australia DTAA.

Non-appearance of directors cannot form sole basis for Section 68 addition

May 23, 2024 1347 Views 0 comment Print

ITAT Kolkata rules in favor of Sati Promoters Pvt. Ltd., deleting Rs. 1.98 Cr Section 68 addition due to AO’s reliance on non-production of subscribing company directors.

No Section 69A Addition for Monies Recorded in Bank Statements: ITAT Bangalore

May 23, 2024 7323 Views 0 comment Print

Understand the ITAT Bangalore ruling on Sudarshan Purushothama Vs ITO, where addition u/s. 69A of the Income Tax Act was contested regarding bank statement monies.

Section 11 Exemption can’t Be denied for Meager Profit from Public Utility Services

May 22, 2024 249 Views 0 comment Print

ITAT Kolkata rules in favor of Institute of Indian Foundrymen, directing AO to allow tax exemption under Section 11 of the Income Tax Act for meager profits from public utility services.

TDS Return Filing in Form 24Q Instead of 26Q Shouldn’t Attract Late Fees if No Revenue Loss

May 22, 2024 3192 Views 0 comment Print

Read the detailed analysis of Birla Cement Works STFF Provident Fund’s appeal against the late fee imposed under section 234E of the Income Tax Act. ITAT Jodhpur’s order considered technical errors and the impact of COVID-19.

No Additions Based on Email Without Corroborative Evidence: ITAT Delhi

May 22, 2024 570 Views 0 comment Print

Read the detailed analysis of Amit Katyal Vs DCIT (ITAT Delhi) where no corroborative evidence was found to prove a Rs. 5 crore payment, leading to deletion of the addition.

All deposits during demonetization should not be presumed unaccounted: ITAT Bangalore

May 22, 2024 1224 Views 0 comment Print

Discover why not every deposit during demonetization is deemed unaccounted cash. Detailed analysis of Narayanappa Munikrishnappa Vs ITO case remitted for fresh consideration by ITAT.

Co-op Society can claim section 80P(2)(d) deduction on Interest Income from Co-op Banks

May 22, 2024 10680 Views 0 comment Print

The ITAT Bangalore rules in favor of GSSS Credit Co-operative Society Limited, allowing interest income from co-operative banks to qualify for deduction under Section 80P(2)(d).

AO cannot reopen the assessment only on suspicion: ITAT Mumbai

May 22, 2024 3912 Views 0 comment Print

ITAT Mumbai rules in favor of V. K. Nanavaty Share and Stock Brokers Pvt. Ltd, quashing the reopening of assessment as wholly without jurisdiction under section 148 of the Income Tax Act.

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