The ITAT Mumbai ruled in Shantiben K Rita’s case that commercial decisions are from the taxpayer’s perspective, allowing full interest expense deduction under Section 57(iii).
Kolkata ITAT dismisses revenue’s appeal against education cess deduction for AVR Storage Tank Terminals. Previous ITAT order set aside the CIT(A) decision, rendering current appeal infructuous.
Chennai ITAT allows taxpayer another chance to prove Rs. 18 lakh cost of improvement claim, setting aside ex-parte disallowance by tax authorities.
The ITAT Ahmedabad ruled that interest earned by a cooperative society from Urban Cooperative Banks qualifies for deduction under Section 80P(2)(d) of the Income-tax Act.
Chennai ITAT remands a case involving Rs 6.16 crore in unexplained cash deposits by a cooperative society, allowing a fresh adjudication after non-compliance, with a cost of Rs 5,000.
ITAT Nagpur dismissed the Income Tax Department’s appeal against a civil contractor for AY 2011-12, citing ‘cryptic and nebulous’ grounds and a tax effect below ₹60 lakhs.
ITAT Kolkata allows Indiano Chrome Pvt Ltd Section 115BAB tax benefit for AY 2023-24, citing prior year compliance and single-time form filing.
ITAT Pune remands Mahaveer (I) Foundation Trust’s 12A registration denial. Assessee gets chance to provide evidence on loans, expenses, and charitable activities.
Mumbai ITAT declares hardship compensation received by flat owners during re-development as a non-taxable capital receipt, citing judicial consistency.
ITAT Bangalore rules that 80G approval hinges on genuine charitable activities, not solely on fee surpluses or accumulated funds. The ruling clarifies the scope of CIT(E)’s inquiry for 80G applications.
