Registration u/s 12AB was rejected on the ground of non-registration in Rajasthan Public Trust Act, 1959 and further, on account of non-genuineness of activities. Furthe grant of 80G was also denied on the abovementioned grounds.
ITAT Bangalore condones delay in appeal by Akshaya Builders and remands the case for fresh assessment with costs after dispute among partners.
Assessee didnot file ITR for AY 2012-13 during which assessee made cash deposit of Rs.45,69,722/-. The case was reopened and notice u/s 148 was sent through e-mail against which no ITR was filed. Hence, AO made addition u/s 69A.
ITAT Ahmedabad dismisses penalty for disallowance of deduction under section 80IA(4), ruling in favor of the assessee as a developer.
ITAT Ahmedabad held that additions under section 68 of the Income Tax Act is not sustainable since assessee established identity, genuineness and creditworthiness of the lenders. Accordingly, addition u/s. 68 deleted.
ITAT Ahmedabad remands 80G application rejection, citing an incorrect assumption about 12A registration status. Case sent back for fresh consideration.
ITAT Delhi held that there is no case for making any addition u/s 68 of the Act in the hands of the assessee by denying the exemption under section 10(38) of the Act for the LTCG on sale of shares of Unno Industries Limited. Accordingly, appeal allowed.
ITAT Mumbai rules that penalty cannot be maintained after assessment order is quashed, restoring a case to CIT(A) for fresh hearing.
Summary of ITAT Ahmedabad’s decision in Anantrai Vithalbhai Parmar vs. CIT (Appeals) for AY 2017-18. Case remanded for reassessment, emphasizing natural justice.
ITAT Ahmedabad held that the Assessee Trust being purely a religious activities of particular Community is not entitled for registration as a specified violation under Explanation [d] of Section 12AB(4) of the Income Tax Act.
