ITAT Kolkata rules in favor of Joy Consolidated, deleting Rs. 2.7 Cr cash credit, citing sufficient evidence for share and loan transactions.
ITAT Delhi remands Orange Business Services India’s transfer pricing case, ordering separate benchmarking for IT and ITES segments based on consistency and directing the use of the headcount method for expense allocation.
The ITAT Bangalore ruled that St. Joseph Engineering College Alumni Association cannot be denied 12AB registration solely for not incurring substantial expenditure. Genuineness of activities, including proposed activities, is key for registration under Section 12AB.
The ITAT Bangalore ruled in favor of Lakshmanram Bheemaji Purohit, deleting an addition for alleged bogus purchases. The court held that no disallowance can be made when an assessee files income under Section 44AD without exceeding turnover limits.
ITAT Delhi held that deduction under section 54F of the Income Tax Act allowable since the provisions of section 54F allows for construction of the property within a period of three years. Accordingly, appeal allowed.
Ahmedabad ITAT quashes 80G approval rejection for Secret Charitable Trust, citing clear violation of natural justice over insufficient response time.
ITAT Kolkata allows Mintu Mallick’s appeal, remanding the case to the AO. It directs re-computation of income using the correct turnover figure available on record.
Kolkata ITAT rules refunded advances not taxable income in Lahoti India Ltd. case, overturning a ₹1 crore addition and setting a precedent.
ITAT Kolkata condones 148-day delay in Sandeep Prasad’s appeal citing medical grounds and legal oversight, remanding case to CIT(A) for fresh merits review.
ITAT Surat rules Section 11 exemption for trusts cannot be denied solely for late Form 10B filing if submitted before the 143(1) order, citing multiple judicial precedents.
