ITAT Pune gives final opportunity to CA-led trust for registration after repeated non-compliance; imposes ₹2,500 penalty.
ITAT Pune rules against AO’s profit estimation for Ambience Greendale, citing faulty comparison and no book rejection. ₹5.82 Cr addition deleted.
ITAT Ahmedabad grants relief to Oswal Extrusion Ltd. on interest disallowance for advances to sister concerns, ordering verification of funds flow.
ITAT Mumbai dismisses revenue’s appeal, upholds NFAC order restricting additions for alleged bogus purchases based on Bombay HC precedents.
ITAT Pune held that delay in filing of an appeal before CIT(A) condoned due to company’s financial position and non-pursuing of appeals by tax consultant. Accordingly, matter remitted to file of CIT(A) for denovo adjudication.
ITAT Ahmedabad held that no disallowance under Section 43B of the Act can be made when deduction is not claimed in the profit and loss account [P&L account], and the liability is disclosed as a current liability. Accordingly, matter restored to AO to verify VAT liability.
Tax tribunal rules NIIT Ltd. can deduct finance lease principal payments as revenue expense; penalty appeal sent back for detailed review.
ITAT Ahmedabad validates AO’s 20.97% gross profit estimation for road contractor Sarandhar Gupta due to unverifiable cash transactions
ITAT Ahmedabad held that section 275(1A) of the Act empowers AO to impose or enhance or reduce or cancel penalty pursuant to the quantum appeal before higher appellate authority or court by giving effect to the quantum order.
ITAT Kolkata rules assessment void due to non-issuance of mandatory notice u/s 143(2) in Sandip Kumar Keshari Vs ITO case.
