The Income Tax Appellate Tribunal (ITAT) Hyderabad has set aside a tax authority rejection of a charitable trust application for permanent registration citing a violation of natural justice principles.
The ITAT Mumbai ruled in favor of Vikram Khandelwal, deleting additions on interest expenses and capital gains after finding that share transactions were genuine and backed by stock exchange records.
The ITAT Ahmedabad ruled that a tax assessment notice issued to a company struck off the register years prior is null and void, invalidating the entire assessment.
The ITAT in Amritsar deleted a penalty on RPK Bricks after the department confirmed no pending supplies against a pre-registration advance payment.
The ITAT Delhi quashes a tax assessment against Dazzle Developers P. Ltd., ruling that an assessment on a dissolved company is legally invalid.
ITAT Chennai held that invocation of revisionary power under section 263 of the Income Tax Act by PCIT justified since AO erroneously accepted the returned income without complete enquiry. Accordingly, appeal of assessee dismissed and revisionary proceedings upheld.
The ITAT Ranchi directed an inquiry into cash deposits of ₹26.60 lakh, telling the Assessing Officer to verify the assessee’s claim of income from a building material business.
Appeal against cancellation of penalty under Section 271D was dismissed for failure to cure defects despite multiple opportunities. Tribunal left open option for Revenue to refile after compliance.
In M. Balasubramaniam v Federal Bank, DRAT Chennai ordered guarantors to pay pro-rata dues of ₹9.03 lakhs each but imposed 6% simple interest from 2002 due to their negligence in the appeal.
ITAT Ahmedabad has ruled on a capital gains case, allowing the cost of property improvement and a Section 54 deduction for a joint investment based on contribution ratio.
