The ITAT Chennai ruled that a Section 8 company’s inadvertent error on a tax form couldn’t change its charitable nature, directing a reassessment for 12AB and 80G approvals.
The ITAT Pune set aside a reassessment case, ruling that the notice was invalid because it lacked the correct sanction from a Principal Chief Commissioner.
ITAT Chennai dismisses Midas Golden Distilleries’ appeal, upholding addition of ₹2.64 crore as unaccounted income based on a director’s admission and corroborated search evidence.
ITAT Chennai has ruled that 5% tolerance limit under Section 56(2)(x) is retrospective. ITAT also clarified that stamp duty and registration fees are not deductible from the property’s consideration.
ITAT condoned delay due to illness and ruled that Abdul Hamid Nachar’s appeals, earlier dismissed for non-filing, must be admitted and re-examined.
ITAT Rajkot quashes a Section 263 order, ruling that the PCIT cannot revise an assessment based on a mere change of opinion when the AO has verified purchases.
The ITAT Ranchi quashed a reassessment against SGS Real Estates Pvt. Ltd., ruling the approval for reopening the case was invalid due to procedural defects and a lack of conscious application of mind by the PCIT.
Lalithaa Jewellery Mart Ltd. Vs DCIT (ITAT Chennai) Mere Loose Notings Without Corroboration Cannot Justify Unaccounted Income- ITAT Chennai Deletes Additions on “MD Sheet” Chennai ITAT delivered a consolidated order in six appeals filed by a leading South Indian jewellery retailer with nearly sixty showrooms, against assessments framed for AYs 2016-17 to 2021-22. The assessments […]
The ITAT Ranchi deletes a ₹1.67 crore addition to a hardware merchant’s income, ruling that cash deposits during demonetisation were explained by recorded sales.
ITAT Pune remands a case, ruling that a trust’s gross receipts cannot be taxed as income without allowing expenses, despite a significant delay in filing.
