ITAT Ahmedabad has remanded a tax reassessment and penalty case to the CIT(A) for fresh adjudication on merits, imposing a cost on the assessee for non-compliance.
ITAT Chandigarh partially allows Sukh Pal Singh’s appeal, adjusting long-term capital gains by accepting a higher cost of acquisition and partial Section 54F deduction.
ITAT Pune held that addition towards bogus purchases adopting profit rate of 5% is justifiable since suppliers neither responded to notices issued u/s. 133(6) nor appeared before AO in response to summons issued u/s. 131.
ITAT Pune held that provisions of section 43CA of the Income Tax Act doesn’t apply when the market value (Govt. value) is more than the agreed value as on the date of booking and market value has gone up during long gap between the date of booking and the date of sale.
ITAT Mumbai held that increasing book profits under section 115JB of the Income Tax Act on account of disallowance u/s. 14A read with rule 8D is not justifiable. Accordingly, appeal of the assessee allowed.
ITAT Mumbai remitted matter of taxability of industrial promotion subsidy back to CIT(A) for de novo meritorious adjudication as details and documents demanded thereon were not furnished by the assessee.
The ITAT Amritsar bench remanded a tax appeal to the CIT(A), directing the authority to reconsider condoning a 257-day delay after the assessee was not given a proper hearing.
The ITAT Ahmedabad remands a tax case, directing the AO to verify the genuineness of purchases by examining GST records and supplier bank accounts.
ITAT Bangalore set aside a tax appeal after NFAC dismissed it without reviewing the taxpayer’s submissions. The case involves the rejection of books and a profit estimation.
ITAT Bangalore rules that the genuineness of a charitable trust’s activities, not the amount of its expenditure, determines its eligibility for tax registrations.
