ITAT Pune rules AO failed to justify penalty under Section 270A, citing lack of clear misreporting by assessee for AYs 2017–18 and 2018–19.
ITAT Pune quashes revision order against Angre Port Pvt. Ltd. on legal expense claims, ruling AO had conducted due inquiry and adopted a permissible view.
ITAT Ahmedabad rejects PCIT’s revision under Section 263, holding AO had duly verified cash deposits and creditors during demonetization scrutiny.
ITAT Bengaluru partly allows assessee’s appeals for AY 2011-12 & 2012-13, deleting addition under section 69A for recorded loan repayments.
ITAT Pune allows appeal in Kamlesh Bhandari vs ITO, deleting ₹24.25 lakh addition for unexplained deposits, citing lack of contrary evidence by Revenue.
ITAT concluded that merely a time gap between withdrawal and deposit does not warrant an addition under Section 69, especially when the revenue could not establish any other use of the withdrawn funds.
ITAT Jodhpur partly allows appeal in Kishana Ram vs ITO, upholding additions related to capital discrepancies and agricultural income under Section 143(3).
ITAT Kolkata cancels penalty u/s 271D for Tarai Transport Corporation in AY 2016-17, citing reasonable cause and a similar past ruling involving cash transactions with a sister concern.
ITAT Rajkot cancels penalty on Anil Odedara, ruling income was estimated and not grounds for concealment under Section 271(1)(c) of the Income Tax Act.
ITAT Jaipur sets aside addition and penalty against Mukesh Kumar Agarwal due to lack of valid jurisdiction and time-barred penalty order.
