ITAT Mumbai rules land compensation as non-taxable, upholds consistency. Salary and interest deductions allowed. Revenue barred from changing stand.
ITAT Hyderabad deletes Rs.1.58 Cr penalty under Sec. 270A due to lack of AO’s satisfaction and bonafide error in excess loss claim by United Steel Allied.
ITAT Kolkata quashes reassessment as escaped income was under ₹50L. Notice u/s 148 held invalid for being issued after 6 years from relevant AY.
ITAT Hyderabad nullifies reassessment orders in Gangaram Reddy case due to absence of notice under Section 143(2), despite return filed in response to 142(1).
ITAT Mumbai quashes a ₹1.12 Cr. reassessment, ruling it void due to being issued against a dissolved company, an unsigned order, and for the wrong assessment year.
ITAT Chennai quashes PCIT’s Section 263 order against City Union Bank, distinguishing inadequate enquiry from lack of enquiry; AO’s assessment upheld.
ITAT Hyderabad deletes penalty u/s 271D on cash receipts for agricultural land sale, citing reasonable cause and prior rulings. Appeals allowed
ITAT Jaipur quashes ₹1.83 Cr assessment on S.S. Diam Pvt. Ltd., struck off by ROC, holding assessment on non-existent company invalid; all additions deleted.
ITAT Hyderabad deletes ₹33 lakh addition under Section 115BBE, ruling that cash seized and declared as business income should be taxed at normal rates, not as unexplained income.
ITAT Raipur followed Supreme Court and Delhi High Court precedents, including ACIT vs Hotel Blue Moon and Shaily Juneja vs ACIT, ruling that reassessment without service of Section 143(2) notice is arbitrary, bad in law, and void
