ITAT Indore partly allows Saaras Agro’s appeal, ruling on Section 69 and 115BBE additions. Key judicial precedents and CBDT circulars cited.
Section 145(3) couldn’t be invoked without identifying specific defects in the books of accounts and that mere suspicion of increased cash sales was not sufficient to make an addition under Section 68.
ITAT Bangalore sets aside CIT(A) order in Section 54 exemption case due to lack of documents. The case is remanded for fresh review.
ITAT Pune restores Mauli Nagari’s tax case to CIT(A)-NFAC due to non-compliance issues. Read about penalties, unexplained cash deposits & reassessment.
ITAT Lucknow held that delay of 4 days erroneously calculated as delay of 551 days by CIT(A). Accordingly, directed CIT(A) to consider request of condonation and if found appropriate to grant opportunity of being heard.
Explore the ITAT Jaipur decision in Mujmmeel Vs ACIT, examining Section 263 order invoking unexplained investments and its implications on tax assessments.
ITAT Chandigarh rules against penalty on estimated income in AKM Resorts vs ACIT, reinforcing that additions based on estimation don’t imply income concealment.
ITAT Pune dismisses Indrayani Seva Samiti’s appeal due to an unexplained 8-year delay, citing lack of sufficient cause and upholding CIT(A)’s order.
ITAT Bangalore held that addition under section 69A towards cash deposits during demonetization deleted since cash deposit was made out of earlier withdrawals. Accordingly, appeal allowed and addition deleted.
ITAT Mumbai held that passing of assessment order u/s 147 r.w.s. 144B of the Act without disposing the objections raised by the assessee is not sustainable being without jurisdiction. Accordingly, reassessment notice u/s. 148 set aside.
