ITAT Kolkata dismisses revenue appeal in DCIT vs Ripley & Co. Ltd., affirming demurrage and penalty charges as allowable business expenses, not penal, citing key judicial precedents.
ITAT Indore rules excess stock surrendered during survey by Suresh Aluminium is business income, not unexplained, directing normal tax rates. Cites key precedents.
ITAT Pune rules Section 234E late fees for TDS statements are applicable only from June 1, 2015, quashing demands for earlier periods due to lack of enabling provisions.
ITAT Kolkata quashes assessment where AO expanded limited scrutiny beyond “cash deposit during demonetization” without proper procedure, citing CBDT instructions and High Court precedents.
ITAT Kolkata ruled for Weilburger Coatings, quashing an assessment order as the AO exceeded limited scrutiny scope without following CBDT conversion procedures.
ITAT Visakhapatnam ruled on whether an Assessing Officer can inquire beyond limited scrutiny, partly allowing an appeal regarding cash deposits during demonetisation.
ITAT Patna ruled the Assessing Officer exceeded limited scrutiny scope by making additions unrelated to large cash deposits without converting to complete scrutiny.
ITAT Delhi held that disallowance of expenditure on adhoc basis without contrary material and without rejection of books of accounts not justifiable. Accordingly, disallowance made in the impugned order deleted.
ITAT Mumbai held that since donations collected were parked in savings bank account of assessee and funds were used for personal purpose hence donation collected are taxable u/s. 56(2)(x) of the Income Tax Act. Accordingly, appeal of the assessee dismissed.
ITAT Hyderabad held that disallowance by invoking provisions of section 36(1)(iii) of the Income Tax Act not sustained since the sum is not an advance/loan to sister concern, however, it is an investment.
