ITAT Agra remanded a TDS short-deduction case for the second time, finding that both the AO and CIT(A) failed to comply with the Tribunal’s earlier binding directions to verify if deductees had paid taxes.
ITAT Agra granted partial relief on a cash deposit addition, accepting ₹60,000 as explained, ruling that money received back from previous advances through banking channels constitutes the assessee’s own money returned.
ITAT Delhi quashed reassessment proceedings for AY 2013-14 and 2015-16, ruling that notices issued after the extended final deadline of June 24, 2022, were time-barred under Section 149, following the Rajeev Bansal ruling.
Tribunal held that where Form 67 is submitted before the completion of assessment, foreign tax credit must be allowed even if the filing was delayed. It observed that neither the Act nor Rule 128(9) imposes disallowance for delay.
ITAT Indore deleted a ₹2 lakh addition for cash deposited during demonetisation, citing CBDT Instruction No. 3/2017 which bars verification for deposits up to ₹2.5 lakhs by individuals.
ITAT Pune held that since object of the trust are charitable in nature and genuineness of activity is established by documents, assessee is eligible for registration under section 12A read with section 12AB of the Income Tax Act. Accordingly, appeal of assessee allowed.
ITAT Mumbai held that payment towards bandwidth service without transfer of right to use equipment or process could not be characterized as ‘royalty’ under section 9(1)(vi) or Article 12 of India-UAE DTAA. Thus, appeal decided in favour of assessee.
ITAT Delhi held that no addition can be made u/s 153A of the Income Tax Act without there being any incriminating material relating to unabated assessment year. Therefore, additions made in the assessment order is deleted and appeal is partly allowed.
ITAT Delhi held that as per the MAT provisions of section 115JB of the Income Tax Act the lower of book losses or unabsorbed depreciation can be set off against book profits. Accordingly, order of CIT(A) upheld and appeal of assessee dismissed.
ITAT Raipur held that addition under section 2(22)(e) of the Income Tax Act towards deemed dividend is vacated since loan is advanced in the preceding year. Therefore, in absence of any payment by the company in the current year, there is no justification to held that amount is received as deemed dividend.
