ITAT Chennai held that deduction under section 80P(2)(a)(i) of the Income Tax Act is admissible to Regional Rural Banks. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.
Ahmedabad ITAT dismisses revenue’s appeal, deleting additions for demonetisation-era cash deposits, citing a lack of evidence for tax evasion.
Denial of DTAA benefits to UAE resident over capital gains on debt mutual funds. The case examines whether ‘liable to tax’ requires actual tax payment.
The ITAT Bangalore quashed a reassessment against Holy Spirit Educational Society, ruling that the AO’s failure to dispose of objections before passing the final order was illegal.
The ITAT Bangalore dismissed a revenue appeal against Rajiv Gandhi University, upholding its Section 11 exemption and rejecting a tax addition due to low tax effect.
ITAT Ahmedabad upholds the quashing of a reassessment order against Rayon Reality Private Ltd., citing the invalidation of the underlying Section 263 order
TAT Nagpur set aside two penalties against Panhera Gramin Bigarsheti: one for non-compliance due to staff issues and another for an excess 80P deduction claim, citing a revised audit report.
ITAT Nagpur sends back Ganesh Thawares reassessment appeal, directing CIT(A) to rule on jurisdiction and other issues afresh after a fair hearing
The Delhi ITAT has deleted an addition under Section 69A for unexplained cash deposits made during demonetization, finding the assessee’s explanation to be justified.
ITAT Delhi has deleted a disallowance of cash salary payments, finding that assessee had provided sufficient employee details that were not properly considered by tax authorities.
