ITAT Pune held that rejection of application for registration under section 12A read with section 12AB of the Income Tax Act since exorbitant fees are being charged and profiteering is not allowed in educational institutes. Accordingly, appeal of assessee dismissed.
Tribunal held that the CIT(A)’s ex-parte order violated natural justice. The matter was remanded for a fresh decision with proper opportunity to the assessee.
ITAT Lucknow held that part of commission income from sugar mills cannot be taxed since other part of commission income has already been allowed for deduction under section 80P of the Income Tax Act. Accordingly, addition of part of commission income set aside and appeal allowed.
ITAT Chandigarh deleted ₹38.70 Lakh addition as unexplained expenditure, holding that fully bank-routed agricultural expenses cannot be disallowed merely due to missing bills. The Tribunal confirmed that legitimate orchard expenses on labor, fertilizers, and packing are deductible from agricultural income.
ITAT Delhi held that addition towards unexplained cash deposit under section 69A of the Income Tax Act is not sustainable since the same is out of the cash sales and both cash book and books of account justifies the same. Accordingly, appeal is allowed.
Explains how ITAT Pune held that unsecured loans prior to 01.04.2023 do not require proving the lender’s source of funds, leading to deletion of a ₹1.62 crore addition.
Tribunal directs AO to apply the 30% tax rate on unexplained cash deposits during Nov–Dec 2016, citing Madras High Court ruling, partially allowing assessee’s appeal.
Tribunal quashed penalty where AO’s addition for alleged bogus purchases was purely estimated, emphasizing that penalties require concrete evidence of income concealment.
ITAT Delhi held that a reassessment notice issued three years after the relevant AY is invalid if the alleged escaped income is below ₹50 lakh, reinforcing the statutory threshold protection.
ITAT condoned delay as assessee learned of assessment only after bank account attachment, emphasizing the violation of natural justice. Key takeaway: Ex-parte orders require proper notice before dismissal.
