ITAT Rajkot held that imposition of penalty u/s. 271B of the Income Tax Act for not getting books of accounts audited cannot be sustained since assessee has filed return u/s. 44AD and there is no need to maintain books of accounts u/s. 44AD.
The ITAT Pune ruled on whether an assessment order was erroneous and prejudicial to the revenue concerning cash deposits during the demonetization period, providing key clarifications on Section 263 of the Income Tax Act.
ITAT Mumbai held that since there was no effective service of orders upon the assessee as the order sent by the department went to spam folder. Thus, delay in filing of an appeal condoned and matter restored back to CIT(E) for fresh consideration.
If any assessment proceedings are to be initiated by AO by relying on any information found during search action conducted on third party, then the Dept must resort to special provisions of section 153C and notice issued u/s 148 in such scenario is bad in law.
ITAT Mumbai held that denial of TDS credit merely because of non-reflection in Form 26AS is not justified since there could be varied technological or other reasons where the relevant data pertaining to the assessee doesn’t get reflected in Form 26AS.
ITAT Delhi upheld the quashing of Ashish Gupta’s reassessment, citing the AO’s failure to issue Section 143(2) notice and furnish reasons, reinforcing procedural compliance.
The ITAT Mumbai has set aside a Rs. 2.55 crore tax order against Gemini Dyeing and Printing Mills, ruling the company was denied a reasonable opportunity for hearing.
ITAT Pune rules penalty cannot be levied under Section 270A if assessee, unaware of consultant’s fraud, paid tax before Section 148 notice, demonstrating good faith.
ITAT Delhi quashes a Rs. 418 crore reassessment order for AY 2009-10 because the notice for reopening under Section 148 was not validly served on the assessee.
The Delhi ITAT has quashed a reassessment based on “borrowed satisfaction,” ruling that the tax department acted without independent inquiry and on suspicion, not tangible material.
