ITAT Agra quashes reassessment in Veerendra Singh Vs ITO due to failure to issue notice under Section 143(2). Key legal findings and case details explained.
ITAT Bangalore rules in favor of Neelamma, holding that the reassessment notice under Section 148 of the Income Tax Act was time-barred. Read full case details.
ITAT Mumbai rules 14A amendment is prospective. No disallowance if no exempt income earned, upholding Delhi HC’s Era Infrastructure view.
ITAT Hyderabad rules in favor of Baburao Atluri, allowing Foreign Tax Credit despite Form 67 delay. Tribunal cites DTAA precedence over procedural rules.
M.M. Patel Charitable Trust Vs PCIT (Central) (ITAT Pune) In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Pune has overturned the order of the Principal Commissioner of Income Tax (PCIT), which had canceled the registration of M.M. Patel Public Charitable Trust under Sections 12A and 12AB of the Income Tax Act, 1961. The […]
ITAT, by going through established precedents, held that AO had not recorded any dissatisfaction with assessee’s voluntary disallowance, nor had he provided any basis for invoking Rule 8D
ITAT Delhi modifies the net profit addition after book rejection, limiting the increase to ₹1 lakh instead of ₹4 lakh for AY 2020-21.
ITAT Ahmedabad ruled that mere suspicion cannot justify tax additions, deleting an Rs. 18 lakh addition in a property investment dispute.
ITAT Mumbai removes addition in Kamal Clearing & Forwarding case, ruling that income was already declared and no evidence of money laundering was found.
ITAT Lucknow held that cash deposits out of the past savings during demonetization being reasonable and as per social standing of the assessee is justifiable. Accordingly, appeal of the assessee allowed and addition is directed to be deleted.
