ITAT Agra held that entire TDS deducted on maturity of bond is allowable since assessee has already offered interest income on accrual basis. Accordingly, appeal of the assessee is allowed and TDS credit granted.
ITAT Hyderabad held that cancellation of registration granted to appellant-society u/s. 12AA of the Income Tax Act not justifiable since conditions precedent for cancellation of registration u/s. 12AB(4)(ii) of the Income Tax Act not satisfied.
The ITAT Nagpur set aside an addition made under Section 40(a)(ia), holding that non-deduction of TDS on capital expenditure does not attract disallowance since it is not claimed as an expense.
The Tribunal held that a partner can claim deductions for travel, depreciation, and similar expenses from remuneration received from a firm as it qualifies as business income.
ITAT Ahmedabad dismissed appeals challenging rejection of registration under Sections 12A and 80G as the assessee failed to appear or submit documents despite repeated opportunities.
The ITAT Delhi annulled a reassessment after finding that the notice under Section 148 was issued by an officer without jurisdiction, rendering the entire proceeding invalid in law.
The Tribunal held that the assessee’s income tax return for AY 2013-14 was filed within the permissible time under Section 139. Therefore, the penalty of ₹5,000 imposed under Section 271F was unjustified and was deleted.
The ITAT held that approvals granted under Section 153D without genuine application of mind are invalid, quashing multiple assessment orders. Key takeaway: mechanical or blanket approvals violate procedural requirements and render assessments null.
The Tribunal ruled that penalties under Section 43 of BMA cannot be imposed for bona fide reporting mistakes when investments were from legitimate, disclosed funds.
The Tribunal ruled that once an assessment under Section 153A is approved under Section 153D, it cannot be revised under Section 263. This reinforces limits on PCIT’s revisional powers.
