ITAT Bangalore held that assessment order issued manually without containing Document Identification Number (DIN) as per CBDT Circular No. 19/2019 dated 14.08.2019 is invalid and deemed to have never been issued.
ITAT Chennai held that amount of Rs. 14 Lakhs received in cash for sale of immovable property is against the provisions of section 269SS of the Income Tax Act. Accordingly penalty under section 271D imposable.
ITAT held that, transfer of property only takes place when either possession of property is transferred or sale deed is executed and documents like unregistered ‘Banakhat’ or power of attorney are not substitute of sale deed.
ITAT Mumbai held that catalyst expenditure merely used as consumables is revenue expenditure. Accordingly, the same is allowable as deduction.
ITAT Chennai held that donations paid by conversion of loans into donations comes under the nature of donations paid in cash and hence entitled for deduction under section 80G of the Income Tax Act.
ITAT Mumbai held that addition on account of difference in stock as per books and valuation report merely on the basis of statement recorded during survey without credible evidence is unsustainable in law.
ITAT Chennai held that profit or loss derived from sale of land held as stock-in-trade is assessable under the head income from business or profession and not under capital gains.
ITAT Delhi held that social security contribution doesnt constitute income from salary in the hands of expatriate employees. Hence disallowance u/s 40(ia) for non-deduction of TDS on the same is unsustainable in law.
ITAT Pune held that interest paid on customs duty is allowable as deduction under section 43B of the Income Tax Act 1961.
ITAT Ahmedabad held that addition towards unexplained cash unsustainable as cash expenses duly incorporated in books of accounts and cash book as well as cash receipts not doubted by the authority.
