ITAT Hyderabad held that no records brought suggesting that assessee has contrived losses by using Client Code Modification. Thus, disallowance of losses only on presumption is not justifiable. Accordingly, disallowance deleted.
ITAT Rajkot held that addition towards unexplained cash deposit under section 69A of the Income Tax Act not sustained since assessee has adequate evidence supporting its claim of cash deposits. Accordingly, appeal allowed.
ITAT Delhi overturns tax addition in Puja Gupta Vs ITO, ruling that share transactions were genuine. Revenue’s reliance on suspicion and probabilities dismissed.
ITAT Mumbai rules in favor of Ramesh Rikhavdas Shah, rejecting AO’s additions on alleged penny stock transactions and commission expenses for AYs 2014-15, 2015-16.
ITAT Pune dismisses DCIT’s appeal against Danfoss Power Solutions as the company opts for the Vivad Se Vishwas Scheme to settle the tax dispute.
ITAT Ahmedabad issues ruling on Reckitt Benckiser’s tax appeal regarding demerger compliance under Section 2(19AA) and capital gains tax treatment.
ITAT Chennai rules on Ashok Leyland’s tax appeal regarding R&D deductions under Section 35(2AB). The tribunal allows partial relief, citing legal precedents.
ITAT Mumbai partly allows HDFC Life’s appeal, addressing taxability of life insurance profits, shareholder account transfers, and Section 14A disallowances.
ITAT Surat condones appeal delay in Ramesh P. Mehta HUF case, remanding tax assessment dispute for fresh consideration by AO. Read key judicial observations.
ITAT Ahmedabad allows deduction under Section 80-IA despite late filing of Form 10CCB, ruling it as a procedural lapse. Read key case details and precedents.
