ITAT Indore deleted Rs. 70.13 lakh investment addition, ruling source of funds sufficiently explained, overturning part of CIT(A) order.
ITAT Ahmedabad directs AO to verify business nexus of interest expense claim, reassessing deduction under Section 36(1)(iii) for Jitendra Shah.
ITAT Ahmedabad quashed addition of cash deposits during demonetization, accepting tuition income and marriage gifts as sources.
ITAT Jaipur applies Section 44AD, taxing retail business gross deposits at 8%. Addition of Rs. 25.56 lakh reduced; appeal partly allowed.
ITAT Delhi partly allows BSNL’s appeal but upholds interest levy u/s 201(1A) for delayed TDS deposit. Check the details.
ITAT Ahmedabad rules no penalty under Section 271(1)(c) when income addition is based on estimation. Case details of Maruti Infrastructure Ltd. Vs DCIT explained.
ITAT Pune sets aside ₹1.04 Cr unexplained cash deposit case for fresh adjudication by CIT(A). The cooperative society claims deposits were from loan recoveries.
ITAT Kolkata rules in favor of Anindya Sarkar, allowing Foreign Tax Credit despite delayed Form 67 filing, citing DTAA provisions over domestic tax laws.
During the course of a survey, it was seen that the assessee had defaulted in deducting tax at source on interest paid to AGE Patel Joint Venture (JV) in Financial Year (FY) 2016-17 on Mobilisation advance and Machinery advance.
ITAT Hyderabad held that addition on the basis of loose papers and documents found from the premises of third party is not tenable in the eye of law. Accordingly, appeal of the revenue is dismissed since addition not based on substantial evidence.
