Bangalore ITAT overturns AO’s PE classification of QlikTech India, orders fresh review based on TPO order, addresses TDS and interest issues.
ITAT Surat remands penalty case under Section 271B to AO, ruling that bank transactions alone cannot determine turnover. Fresh consideration ordered.
ITAT Mumbai restores MITC Metals case for fresh adjudication, ruling that assessment order was not void ab-initio despite ongoing corporate insolvency proceedings.
Explanation to Section 14A has only a prospective effect from April 1, 2022, and cannot be retrospectively applied to earlier assessment years.
ITAT Ahmedabad dismisses Somnath Kelavni Mandal’s income tax appeal due to continuous absence in proceedings. Case pertains to unexplained cash deposits under Section 69A.
ITAT Delhi held that provision of section 43A of the Income Tax Act not invocable when there is only reinstatement of fluctuation loss as per accounting standards and there is no actual payment or remittance. Thus, appeal allowed.
ITAT Bangalore reverses addition of ₹12 lakh under Section 68, accepting sales as the source of cash deposits made during demonetization by Raju Rajesh.
ITAT Mumbai condones a 2202-day delay in filing appeal by Palmera Co-op Housing Society. Bona fide belief in rectification under Section 154 upheld.
ITAT Bangalore sets aside AO’s decision in Qlik Tech International AB vs DCIT, addressing PE classification, TDS credit, and tax refund interest disputes.
ITAT Chennai deletes additions under Section 69A for cash deposits made during demonetization by P. Tamilmani. Case highlights proper accounting and unjustified suspicions.
