Mumbai ITAT rules that Hardship Compensation from developers in redevelopment projects is a capital receipt, not taxable income or dividend. It reduces asset cost for future capital gains.
ITAT Mumbai held that payments for roaming charges, being for automated services, do not fall under ambit of TDS provisions under Section 194C or 194J of Act.
The ITAT Visakhapatnam has directed the Income Tax Officer to verify the source of a Rs. 24 lakh cash deposit made during demonetization by Tripuraneni Sarada Devi.
ITAT Delhi rules Section 249(4)(b) inapplicable for Sangeet Kathuria’s appeal dismissal, when no return was filed and no admitted income existed, remanding the case for fresh assessment.
Chennai ITAT sets aside CIT(E) order rejecting 80G renewal for Gyanodaya Bharat Trust, citing notices sent to spam and violation of natural justice.
The ITAT Surat directs the AO to verify Kuberji Developers’ claim that rent was double-taxed across assessment years 2016-17 and 2017-18, allowing adjustment if proven.
Mumbai ITAT remands Shankarlal Shantilal Mali’s appeal on unexplained cash deposits of over 1 crore for AY 2014-15 to CIT(A) for fresh adjudication.
In a significant ruling for taxpayers facing automated adjustments, the Income Tax Appellate Tribunal (ITAT) Pune Bench has directed the deletion of a disallowance made by the Central Processing Centre (CPC) under Section 40(a)(i) of the Income-tax Act, 1961. The tribunal held that where a subsequent detailed scrutiny assessment by the Assessing Officer (AO) has considered and accepted the taxpayer’s contentions on the same issue, that decision takes precedence.
Hyderabad ITAT remands 80G approval rejection, finding the application was dismissed solely due to a typographical error without assessee rectification opportunity.
ITAT Surat affirms penalty on Pristine Jewellery for non-compliance with tax audit requirements, rejecting claims of reasonable cause and distinguishing previous judgments.
