ITAT Bangalore held that provision for long term service award is made on actuarial valuation and amount provided for in the books of accounts based on actuarial valuation cannot be said to be contingent.
ITAT Pune rejected the petition for condonation of delay in filing an appeal as it was found that the appeal was casual, non-serious and non-vigilant in preferring appeal against the impugned orders.
ITAT Delhi held that assessment order suffered from non-application of mind and also overt omission and failure on the part of the assessee to disclose fully and truly all material facts as were necessary for the assessment. Accordingly, reopening of assessment u/s 148 justified.
ITAT Bangalore disallowance u/s 40(a)(i) of the Income Tax Act for non-deduction of TDS for payments not qualifying as fees for technical services and not being business income taxable in India is sustainable
ITAT Mumbai held that levy of late filing fees u/s 234 of the Income Tax Act for any period prior to 01/06/2015 would not be sustainable in the eyes of law.
ITAT Mumbai held that addition of capital gain as unexplained cash credit u/s 68 of the Income Tax Act is unsustainable on the basis of generalized external information as it cannot be considered as incriminating material found during the course of search.
ITAT Bangalore held that no disallowance under section 14A of the Income Tax Act could be made if no exempt income was earned by the assessee.
ITAT Bangalore held that expenditure for cost of improvements incurred towards capital assets is eligible for indexation benefit.
ITAT Ahmedabad held that addition u/s 68 alleging bogus capital gain simply on the basis of some report finding unearthed in case of third party without cogent material is unsustainable
ITAT Bangalore held that invocation of provisions of section 263 justifiable as AO failed to reconcile the claim of long term capital gain exemption with the amounts furnished in Form 10DB
