ITAT Ahmedabad orders the CIT to reconsider a Trust’s 80G registration application, despite clerical errors and delays, for fair adjudication.
ITAT remands the case to CIT for re-examination due to insufficient notice for hearing in Bai Ruxmani case, allowing due opportunity for appeal.
ITAT Ahmedabad held that addition of all the cash deposits as unexplained income without giving credit for the withdrawal not justified. Accordingly, matter restored back to the file of AO for de novo consideration.
ITAT Mumbai held that the internal audit memo is outside the scope and ambit of the term “information” as provided in Explanation 1 to section 148 of the Act, prior to its amendment by the Finance Act, 2022. Accordingly, reopening of proceedings liable to be quashed.
ITAT Ahmedabad uphold the CIT(A) order restricting TDS credit in proportion of income returned to tax. Accordingly, appeal of the assessee dismissed. TDS credit was restricted to the tune of TDS pertaining to the income returned to tax in the impugned year and the balance credit was accordingly disallowed.
ITAT Ahmedabad held that disallowance of deduction claimed under section 80IB(10) of the Income Tax Act rightly deleted as delay in BU was due to dispute of jurisdiction between AMC and AUDA. Accordingly, following judgement of Jurisdictional HC and SC disallowance rightly deleted.
ITAT Mumbai held that interest paid on loan from group entities are in the nature of reimbursement and therefore not liable for deduction of TDS. Therefore, addition made by AO is directed to be deleted.
ITAT Ahmedabad deleted disallowance of sales promotion expenditure since disallowance constitutes small percentage as compared to turnover of the assessee and also there is no allegation of expenditure incurred in cash.
ITAT Delhi held that disallowance @10% of personnel expenditure not justified since AO mistakenly presumed expenses claimed by assessee as personal expenditure instead of personnel expenditure. Thus, appeal allowed.
A proceeding u/s 271(1) (c) of the Act was initiated against the assessee as during the assessment proceedings u/s 143(3) of the Act it was seen that in the ABN Amro Bank account of the assessee a cash amounting to Rs. 20 Lakh was deposited.
