ITAT Jaipur held that since there is neither error of law nor of facts, the twin condition as required to revise the assessment order is not met out and hence invocation of revisionary power under section 263 of the Income Tax Act is not sustainable in law.
ITAT Kolkata ruled that filing Form 67 for Foreign Tax Credit (FTC) under DTAA is procedural, not mandatory. Read key takeaways from Timirbaran Mazumder vs. DCIT.
ITAT Chandigarh upholds CIT(A) order, deleting additions under Section 153A, citing absence of incriminating material found during search proceedings.
ITAT Pune remands Bandgar vs. ITO case for fresh adjudication on property valuation and income tax additions under sections 56(2)(vii)(b) & 69C.
A similar claim for deduction as was raised by assessee-firm in the preceding year had been allowed by the department, but also the fact that the GP/NP rates of assessee firm were progressive as in comparison to the preceding year.
ITAT Pune ruled that Rs. 1.02 crore in short-term capital gains was wrongly added to the taxpayer’s income, as it was already taxed under her husband’s return.
It was a case where the statutory procedure mandated in section 144C had been attempted to be by passed by merely mentioning the name of the assessee as the amalgamated entity with its former name and the name of amalgamating company.
ITAT Pune ruled that Foreign Tax Credit (FTC) cannot be denied solely due to late Form 67 filing, as the requirement is directory, not mandatory.
ITAT Mumbai remands case after CIT(E) rejects 12A registration due to missing documents, directing the applicant to submit required details for reconsideration.
ITAT Pune remands case after CIT(A) upholds TDS-related additions due to lack of proper hearing, directing reconsideration with adequate opportunity for the assessee.
