ITAT Raipur held that in case of bogus/ sham transactions it is the responsibility of revenue authorities to investigate and decide that whether bogus transactions fall within the category of tax planning or tax evasion. Accordingly, matter restored back to AO for fresh consideration.
Bangalore ITAT cancels reassessment proceedings against Amit Kumar Banthia (HUF) due to the Assessing Officer’s failure to follow mandatory procedures.
ITAT Chennai holds reassessment notice under Section 148 for AY 2013–14 as time-barred, relying on Supreme Court’s ruling in Rajeev Bansal and other precedents.
ITAT Delhi held that order rejecting of application in Form No. 10 for registration u/s. 12A(1)(ac)(iii) of the Income Tax Act without verifying the seminar and conference expenses and also TDS deduction by donor cannot be sustained. Accordingly, order set aside to the file of CIT(E) for fresh order.
ITAT Delhi held that cost of incurred in furnishing the flat is allowable as cost of improvement and the capital gain is to be calculated accordingly. Thus, appeal of the assessee is allowed.
Delhi ITAT voids Rolls Royce India’s assessment order for AY 2017-18, citing the AO’s failure to adhere to the Section 144C(13) time limit for passing the final order.
Delhi ITAT deletes income tax additions based on loose papers, citing lack of corroborative evidence and AO’s failure to conduct independent inquiries, emphasizing dumb documents are not sufficient for additions.
ITAT Delhi quashes an addition made by the DCIT against Virender Verma, finding the accommodation entry allegation unproven due to lack of supporting material and an unrelated seized ledger.
The ITAT Delhi set aside a reassessment order against Aashiyana Infrastructure Development Pvt. Ltd., citing a violation of CBDT instructions on jurisdictional limits, as the DCIT passed the order instead of the ITO.
ITAT Pune reduced ad-hoc disallowances on salary, advertisement, vehicle, and travel expenses to 10% for Prafulla Shantilal Kothari, citing audited books and no specific defects.
