ITAT Kolkata deletes ₹19.6 lakh addition for AY 2018-19, citing the retrospective application of the 10% safe harbour limit as a curative amendment under the Income Tax Act.
ITAT Surat held that rejection of the application for condonation of delay in filing refund claim u/s 119(2)(b) of the Act is not an appealable order u/s. 253. Thus, appeal dismissed as infructuous.
ITAT Delhi held that revisionary proceedings under section 263 of the Income Tax Act would not survive since the assessment order is held to be non-est. Thus, appeal dismissed as having become infructuous.
In the matter abovementioned ITAT remanded the matter to CIT (A) after observing that no proper opportunity was given to assessee and assessee was able to substantiate the additions made by AO if opportunity may be granted.
It was argued on behalf of assessee that in the preceding AY, the margin of the assessee from the sale of recharge coupons was 1.75% (approx) and the same was accepted by the Department. Estimation of profit margin at 8% by AO is very much on higher side.
ITAT Jaipur examines Harish Jain’s appeal regarding additions on undisclosed income and retraction of statements during search operations. Detailed case analysis.
ITAT Ranchi remanded the matter regarding addition under section 69A of the Income Tax Act back to the file of CIT(A) since paper books was not produced before AO or CIT(A).
ITAT Ranchi directed CIT(A) to reconsider the matter of disallowance due to late deposit of Employees Contribution u/s 36(1) (va) of the Income Tax Act in light of decision of Hon’ble Supreme Court in Checkmate Services.
‘Gupt Daan’,a secret gift regarding unexplained cash in a Religious Trust locker was pertaining to RNB Temple Trust and was already brought on record to the extent of Rs.1,79,00,000/- which was evident from the Balance Sheet submitted.
ITAT Ahmedabad held that addition under section 68 towards cash credits not justified since evidences clearly demonstrates that cash deposits and credit entries are through agricultural income. Accordingly, addition deleted and appeal allowed.
