Penalty imposed under section 271(1)(b) for non-compliance with a notice during the Covid-19 pandemic was deleted due to disruptions caused by lockdowns during outbreak of Covid-19 Pandemic and the Supreme Court’s extension of limitation periods.
Since CIT(Appeals) dismissed the appeal without addressing key issues raised against the assessment order, therefore, the matter was remanded back to CIT(A) as CIT(A) should have examined this issue by reviewing the assessment records.
ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents cited include Ghanshyam HUF & Sham Lal Narula.
ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete evidence. Understand judicial precedents cited.
ITAT Ahmedabad dismisses ITO’s appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues include Section 148 and cash credits.
Analysis of ITAT Ahmedabad’s ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as taxable salary. Read the case summary.
ITAT Pune dismisses revenue appeal, upholding CIT(A)’s decision that a tax reassessment based on a cancelled PAN was invalid.
Advocate Amardeep Soni & Advocate Harsha Soni Gemplus India Pvt. Ltd. Vs ACIT (ITAT Bangalore) A Case Study of ITAT BANGALORE BENCH ‘A’ Gemplus India (P.) Ltd. v. Assistant Commissioner of Income-tax, Circle-11(4), Bangalore [2010] 3 taxmann.com 755 (Bangalore – Trib.) Abstract: The practice of cost allocation and transfer pricing is integral to multinational corporations (MNCs) […]
ITAT Delhi rules that Section 50C adjustments cannot be made under Section 143(1) without referring valuation disputes to the DVO, preserving taxpayer rights.
ITAT Pune rules no addition under Section 69 if investment source is disclosed in the balance sheet. Partial relief granted for unexplained cash deposits.
