ITAT Mumbai held that person who stayed out of India for the purpose of employment and/ or in search of employment will be considered as non-resident provided the stay out of India is more than 182 days. Thus, addition deleted as person is non-resident in India.
ITAT Cochin rules that cash deposits made during demonetization from prior withdrawals cannot be added as unexplained money in the absence of contrary evidence.
ITAT Kolkata quashes reassessment u/s 147, stating that search-based findings must follow Section 153C. Read the full case details and judgment summary.
ITAT Kolkata quashes assessment reopening in Sudha Surana case, citing lack of AO’s application of mind and invalid PCIT approval.
Accordingly, the A.O vide his order passed u/s.143(3) of the Act, dated 26.12.2018, after making the aforesaid addition determined the income of the assessee firm at Rs.20,98,730/-.
The assessee is a private limited company. Post completion of assessment u/s. 143(3)/153A, reassessment u/s. 148 was initiated. However, AO accepted the contention of the assessee and passed order u/s. 143(3)/ 147.
Since the status of assessee changed from society to Section 8 Company, it had filed an application in Form no.56D, on 11/04/2008, seeking grant of fresh approval u/s. 10(23C)(vi) of the Income tax Act, 1961.
ITAT Raipur held that vacating addition/ disallowances by CIT(A) based on additional documentary evidences filed before him without confronting AO is against the provisions of rule 46A of the Income Tax Rules, 1962. Thus, matter restored back to AO.
ITAT Pune held that additional income surrendered during the course of survey is taxable at normal rates and not at special rates as per section 115BBE of the Income Tax Act. Accordingly, appeal of revenue dismissed.
ITAT Delhi held that re-assessment notice issued under section 148 of the Income Tax Act and sent to unrelated e-mail address is regarded as never served to assessee and hence re-assessment order framed thereon is nonest and bad in law.
