ITAT Ahmedabad held that matter regarding rejection of registration under section 12A of the Income Tax Act remitted back to file of CIT(E) with direction to explain the fulfillment of conditions as stipulated u/s.12A(1)(ac)(vi)-Item B of the Act.
Mumbai ITAT reduces tax disallowance on alleged bogus purchases to 5%, ruling profit element taxable when transactions are proven, distinguishing higher court precedent.
ITAT Nagpur held that the provisions of section 56(2)(vii) (b)(ii) of the Income Tax Act came into statute by Finance Act 2013 w.e.f. 01.04.2014 i.e., A.Y.2014-15. Accordingly, provisions cannot be made applicable to date of agreement before 01.04.2014.
Mumbai Income Tax Appellate Tribunal rules compensation to flat owner for construction nuisance is a non-taxable capital receipt, citing earlier precedents.
ITAT Hyderabad held that reopening of assessment under section 147 of the Income Tax Act on the basis of invalid reasons recorded by AO cannot be sustained in law. Accordingly, notice issued u/s. 148 and final assessment order is quashed.
ITAT Delhi held that addition made under section 153A of the Income Tax Act are bad-in-law in absence of any incriminating material found during the course of search. Accordingly, assessment order quashed.
ITAT Surat permits Asifiqbal Ismail Jangda’s appeal, removing a ₹3.45 lakh unexplained cash addition. Agricultural income and bank withdrawal proof cited.
ITAT Ahmedabad restores ₹26.84 lakh depreciation disallowance for IIIT Society, directs AO to verify if asset cost was claimed as application of income.
ITAT Ahmedabad restores ₹15.88 lakh reassessment addition, directs AO to re-verify cash deposits after considering evidence overlooked by lower authorities.
ITAT Panaji sets aside CIT(A)’s ex-parte order, remands case of Grameena Seva Sahakari to allow fresh hearing on Section 80P deduction denial.
