ITAT Mumbai quashes reassessment in Top Class Capital Markets Pvt Ltd Vs ACIT due to incomplete disclosure of reasons for reopening under Section 147 of the Income Tax Act.
ITAT Pune remands Ask Chemicals India’s appeal to NFAC, directing it to adjudicate on merits rather than dismissing for non-prosecution.
Sanjay Vs ITO (ITAT Delhi) ITAT Delhi condone delay in appeal of 1086 days in Sanjay vs. ITO: Key Ruling on Reassessment Under Section 147 & 148 Introduction The Income Tax Appellate Tribunal (ITAT) Delhi, in the case of Sanjay vs. ITO, Ward-2, Rohtak (ITA No. 3243/Del/2024), has set aside an EX PARTE reassessment order […]
According to AO, the provisions were not allowable who vide show cause notice asked assessee to furnish details of the provisions made as well as justification for the claim and the assessee did not file any reply to the show cause notice issued.
ITAT Bangalore held that penalty order under section 272A(2)(e) of the Income Tax Act has to be passed within reasonable time. Since, the penalty order is not passed within reasonable time, the same is liable to be quashed.
ITAT Jaipur held that once the jewellery and silver articles are considered as belonging to the family as a whole, there does not remain any unexplained gold jewellery. Hence, addition towards unexplained gold jewellery is liable to be deleted.
The assessee acts as a corporate agent for Max Life Insurance Company in respect of marketing it’s insurance policies. The assessee charges commission from Max Life in lieu of rendering such services.
Assessee was specifically asked to justify its claim as the agreement had to be with (a) Central Government (b) State Government (c) Local Authority or (d) Statutory Authority and LMRCL did not fit in any of the four categories.
ITAT Ahmedabad upholds deduction of GST interest & late fees, ruling they are compensatory, not penal. Read the key observations & legal precedents cited.
ITAT Visakhapatnam sets aside penalty on Malla Appalaraju under Section 271(1)(c) due to a defective notice, ruling it void ab initio.
