ITAT Delhi ruled on the unexplained cash deposit addition in Jitendra Singh Vs ITO (AY 2015-16). The Tribunal accepted the assessee’s explanation that the Rs.13
The ITAT Pune ruled that a penalty notice under Section 271(1)(c) must clearly specify the exact charge—concealment or inaccurate particulars.
Club income not taxable if mutuality is proven: ITAT directs re-verification of cash deposits and identity of contributors/beneficiaries, setting aside an assessment based on the estimated 10% income addition.
ITAT Bangalore deleted a Rs.34.50 lakh addition u/s 69A, accepting the exporter’s explanation that cash deposits during demonetization were genuine customer advances for flowers, which were fully disclosed.
Bangalore ITAT condones 98-day delay and restores penalty appeals u/s 271D/271E, directing CIT(A) to re-examine the genuine nature of cash received and repaid to a paternal uncle for education.
Delhi ITAT quashes the assessment for AY 2017-18, ruling that the AO who framed the order lacked jurisdiction because the mandatory Section 143(2) notice was issued by a different, non-jurisdictional authority. Defect is fatal and incurable.
In a trading business case, the ITAT confirmed that income estimation must be fair and reasonable. Due to the lack of cogent material from the Department to support an 8% NP rate, the Tribunal intervened to fix the rate at 4%.
Delhi ITAT rules that disallowance of Section 80M deduction and GST refund mismatches are debatable issues, falling outside limited jurisdiction of Section 143(1). Intimation against Coforge Ltd. quashed for being ultra vires and violating natural justice.
Delhi ITAT upholds the ₹50 Lakh bogus sale addition against a jeweller, finding no proof of bullion transport and confirming the buyer was an entry operator.
Delhi ITAT sustained a Rs.14.69 Cr unexplained loan addition under Section 68 against Alvin Reality, ruling that companies with less than Rs.2,000 in income and minimal reserves cannot be deemed creditworthy to advance multi-crore loans.
