ITAT Allahabad remands ₹45.4 lakh unexplained cash deposit case, citing lack of evidence and claims of fraud. Assessee given a fresh chance to present facts.
ITAT Kolkata rules that no additions can be made in completed assessments under section 153A without incriminating material seized during the search.
In the abovementioned matter ITAT remanded the matter to AO after observing that assessee failed to apply under rule 46 A (Additional Evidence) of the IT Rules.
ITAT Chennai remands Rs.117.01 lakh addition for fresh review, citing non-consideration of assessee’s details in assessment.
ITAT reduces income estimation to 2% for ticket agent’s ₹118 Lakhs cash deposit case, providing relief by lowering the AO’s 10% margin estimation.
ITAT Kolkata upholds CIT(A)’s decision to delete ₹3.92 crore additions under Section 41(1), ruling no cessation of liabilities in AY 2014–15 for Shreekrishan Goswami.
Assesse being a partnership firm, engaged in the business as dealer in petroleum products who filed its return at Rs.3,00,950/-. Subsequently the case was selected for limited scrutiny.
In the case abovementioned ITAT have held that there is no need to purchase residential property in own name by any assesseee for the purpose of claim of capital gain u/s 54F.
ITAT Kolkata remands case of Prakash Bhalotia to AO for fresh order, citing lack of opportunity to present evidence in AY 2017–18 case of unexplained cash deposits.
Raj Kumar Agarwal HUF’s appeal against penalty under Section 271(1)(c) dismissed as withdrawn under the Vivad Se Vishwas Scheme, 2024.
