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ITAT Panaji Sets Aside NFAC Order Over for Video Hearing without justification

February 8, 2025 171 Views 0 comment Print

ITAT Panaji ruled in favor of Ganga Suresh Rathod, setting aside NFAC’s order after her video hearing request was denied, citing a breach of natural justice.

ITAT Bangalore condones 367-day delay which was due to Technical Glitch

February 8, 2025 432 Views 0 comment Print

ITAT Bangalore sets aside CIT(A) order, allowing an apartment owners association a second chance due to a technical issue that delayed their appeal filing.

Section 69A Addition Deleted for Cash Found During Search Due to Family Savings

February 8, 2025 654 Views 0 comment Print

ITAT deletes the Rs.6 lakh addition made for unexplained cash found during a search, considering family savings and past declarations.

ITAT Surat Remands Case as AO Ignored acquisition & improvement Cost in Capital Gain

February 8, 2025 654 Views 0 comment Print

ITAT Surat quashes CIT(A) order for not considering assessee’s submissions, directing the AO to reassess the case with due opportunity for the assessee.

Depreciation u/s. 32 is entitled only if asset is owned by assessee: ITAT Hyderabad

February 8, 2025 90 Views 0 comment Print

The assessee is into development and construction of a project. The case was selected for scrutiny and AO issued notices u/s 142(1) and 143(2) of the Act, calling for certain details.

ITAT Delhi Quashes Income Tax Reassessment for Mechanical Approval

February 8, 2025 4491 Views 0 comment Print

ITAT Delhi invalidates reassessment due to non-application of mind in approval under Section 151 of the Income-tax Act, impacting jurisdiction under Section 147.

No disallowance u/s. 40(a)(ia) as reimbursement of expense considered as receipts and tax paid thereof

February 8, 2025 96 Views 0 comment Print

ITAT Mumbai held that disallowance under section 40(a)(ia) of the Income Tax Act unjustified when reimbursement of expenses is considered as receipts in total income and tax is paid on the same therefore no disallowance in terms of proviso to section 201.

No Section 80P(2)(d) deduction on Co-Op bank interest: ITAT Bangalore

February 8, 2025 645 Views 0 comment Print

ITAT Bangalore rules co-op societies can’t claim Sec. 80P(2)(d) deduction for interest from co-op bank deposits, citing Totgars Society case precedents.

Provision of section 50C doesn’t apply on transfer of development rights in land

February 8, 2025 198 Views 0 comment Print

ITAT Ahmedabad held that the development rights in the land were not the land itself and, therefore, the provision of section 50C of the Income Tax Act was not applicable on transfer of development rights in the land.

ITAT Delhi Dismisses Revenue’s Appeal Due to Low Tax Effect

February 8, 2025 510 Views 0 comment Print

ITAT Delhi dismisses Revenue’s appeal on cash deposits and liability cessation, citing CBDT’s monetary limits for tax disputes under Circular No. 09/2024.

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