ITAT Hyderabad held that the final assessment under section 143(3) r.w.s 144C(13) passed beyond statutory time limits is invalid. The ruling reinforces that the outer limit under section 153 cannot be extended, emphasizing strict compliance with limitation provisions.
ITAT Hyderabad condoned a 292-day delay in filing an appeal due to the assessee’s age, dependence, and overseas travel. The case is remanded for fresh adjudication of capital gains, ensuring fair opportunity and justice.
The Tribunal found that once additional evidence is admitted and remand is called for, the Assessing Officer must be given an effective opportunity to respond. Deciding the appeal without waiting for the remand report was held to be legally unsustainable.
ITAT Pune ruled that the Maharashtra PSI-2007 subsidy of ₹37.85 crore is a capital receipt. The order reversed CIT(A) and AO’s revenue treatment, protecting the assessee from taxation.
The ITAT Amritsar held that a reassessment under Section 147 was void as the Section 148 notice was issued without complying with procedural requirements and statutory service obligations.
The ITAT held that income appearing in Form 26AS cannot be taxed unless actually received when the assessee follows cash accounting. The ruling confirms that 26AS entries alone cannot justify additions.
Delhi ITAT remands the case to CIT(A) for fresh adjudication after ex-parte dismissal. Tribunal emphasized that sufficient hearing opportunity must be granted before rejecting appeals.
The Tribunal upheld the addition because the assessee could not prove the creditor’s identity, financial capacity, or the genuineness of the ₹50 lakh credit. Defective confirmation, NIL income of the creditor, and absence of source details weighed against the assessee. The ruling emphasizes that Section 68 requires clear, credible evidence.
The Tribunal held that deductions for donations cannot be denied due to later retrospective withdrawal of approval. Genuine donations made when the donee was approved retain tax benefits.
ITAT upheld deletion of ₹3.31 crore addition under Section 69, noting full disclosure of foreign assets and sufficient income. Revenue cannot levy additions where investments are legitimate and documented.
