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.
ITAT Chennai asks CIT(E) to reconsider Bright Educational Trust’s delayed 80G application under amended Section 80G(5)(iv)(B) of the Income Tax Act, effective 01.10.2024.
The ITAT Bangalore ruled in favor of HP India Sales, quashing major tax additions. The tribunal upheld the company’s consistent accounting practices for revenue recognition, discounts, and provisions, reinforcing mercantile principles.
The ITAT granted Lowe’s India partial relief, allowing an 80G deduction for CSR donations while correcting MAT profit and other disallowances. The transfer pricing issue was remanded for a fresh review.
The ITAT Bangalore deleted a Rs.23.77 Cr capitation fee addition and restored exemption u/s 11 for Sri Devaraj Urs Educational Trust, ruling that uncorroborated documents and contradictory statements lack evidentiary value.
The ITAT restores an NRI’s tax appeal, condoning a 442-day delay. The Tribunal ruled that genuine hardships justify overlooking technicalities and directed a rehearing on the merits.
ITAT Mumbai remands an NRI’s tax case for a new hearing, citing improper service of notice. The Tribunal directs the CIT(A) to re-examine the validity of the assessment reopening.
ITAT Ahmedabad rules that cash deposits made during demonetisation cannot be singled out and must be treated as business income, allowing an assessee’s appeal and deleting a Rs.26.57 lakh addition.
ITAT Ahmedabad dismisses Revenue’s appeal, quashing a Rs.ｹ116.01 crore bogus sales addition to Pel Industries Ltd. as the assessment reopening was invalid and time-barred.
ITAT Ahmedabad dismisses a trust’s appeal, sustaining a Rs.8.36 lakh tax addition. The trust was ineligible for Section 11 benefits as it lacked Section 12AA registration and served a specific community.
