It was argued on behalf of assessee that PCIT is wrong in concluding that return filed u/s 44AD did not envisage the maintenance of any Books of Accounts. Section 68 can be invoked only if there is any entry in the Books of Accounts.
ITAT restores gratuity addition matter to CIT(A) in Vaddadi Madhusudana Rao’s appeal despite 1-day delay in filing the appeal.
In the abovementioned case ITAT remanded the matter to CIT (A) after considering the fact that no proper opportunity was availed by assessee before CIT (A) and revenue has no objection in remanding the matter.
ITAT quashes S.263 revision order and annuls CIT(A) order in Kolet Resort Club Pvt Ltd case due to invalid assessment for AY 2015-16.
ITAT Ahmedabad remands Ashadeep Industries vs. ITO for rehearing, emphasizing procedural fairness and opportunity to be heard under natural justice principles.
ITAT Ahmedabad held that inadvertent mentioning of wrong area in Form 10CCB resulted into denial of claim u/s. 80IC. Thus, clam allowed since it is proved that establishment of assessee exists in eligible area. Accordingly, appeal allowed.
ITAT Ahmedabad directs CIT(A) to decide the denial of Foreign Tax Credit (FTC) due to delay filing of Form No. 67 to be decided with other pending appeal of the same assessment year. Accordingly, matter remitted to CIT(A).
ITAT Kolkata remands unexplained income case involving a mother-son transaction back to CIT(A) for fresh adjudication, citing incomplete compliance and evidentiary gaps.
ITAT Ahmedabad rules that cost of improvement to make a house livable qualifies for capital gains deduction. Penalty on disallowed expenses also canceled.
ITAT Surat held that disallowance of unaccounted purchases restricted to 12.5% of purchases instead of 25% as held by CIT(A). Accordingly, addition towards unaccounted purchases restricted.
