ITAT Bangalore rules software development as “production”, allowing Bosch’s claim under Sections 32(1)(iia) and 32AC for depreciation and investment allowance.
ITAT Bangalore denies Section 11 exemption to Al-Badar Trust, citing capitation fee collection as lacking charitable intent under the Income Tax Act.
ITAT Mumbai allows appeal by Kalpana Dilip Mehta, quashing reassessment order as time-barred, emphasizing strict adherence to limitation periods in income tax law.
ITAT Delhi held that while computing total income as per Rule 5 r.w. section 44, provisions of section 14A are not applicable. Further, disallowance method of computation of prescribed under Rule 8D is not applicable while “Book Profit” u/s 115JB.
ITAT Raipur held that disallowance under section 43B of the Income Tax Act towards unpaid VAT liability cannot be sustained since the amount was not claimed as an expenditure in P&L account. Accordingly, appeal of revenue dismissed.
ITAT Ahmedabad held that assessment order passed against non-existent entity is an invalid assessment order and hence entire assessment framed is liable to be quashed. Accordingly, appeal of assessee allowed.
ITAT Mumbai rules Section 56(2)(viia) does not apply to shares held as stock-in-trade, aligning with legislative intent for anti-abuse measures.
ITAT Bangalore rules against disallowance under Section 143(1) citing invalidity of updated return filed under Section 139(8A) by co-op society.
ITAT Bangalore rules in favor of Anugraha Education Trust, clarifies 80G approval does not depend on fee receipts being donations.
The assessee is carrying on business activity of export of software development and distinct services as Proprietor of Versatiletech. The return was picked up for scrutiny for the reason of compliance with TDS provisions and also foreign outward remittances.
