ITAT Mumbai held that interest derived from deposits with co-operative banks is allowable as deduction under section 80P(2)(d) of the Income Tax Act to the co-operative society.
ITAT Ahmedabad directs AO to reassess Vallabh Pesticides’ loan and credit entries, emphasizing a fresh review of evidence and loan credibility under Section 68.
ITAT Mumbai held that once the issue of reopening was examined in the scrutiny assessment proceedings, the reason framed under wrong facts are not valid reason, therefore such reasons to believe cannot be sustained. Thus, reopening of assessment quashed.
ITAT Ahmedabad upholds CIT(A)’s ruling dismissing Revenue’s appeal on unexplained cash credits. Genuineness confirmed in remand report for A.Y. 2016-17.
ITAT Ahmedabad allows registration under section 12AB, clarifying that section 13(1)(b) applies only at the assessment stage.
ITAT Kolkata cancels ₹20,000 penalty imposed on SNG Microns by NFAC, citing lack of proper notice and communication as grounds for the decision.
ITAT condones a 2,330-day delay in appeal filing due to the death of the chartered accountant, Covid-19, and the bonafide belief in ongoing rectification efforts.
ITAT Mumbai restores Ivan Santosh Fernandes’ appeal, citing Covid-based extension, for reassessment on AY 2012-13. Penalty appeal also directed for fresh review.
ITAT Mumbai dismisses tax appeal against Old Girtonians Association due to CBDT’s revised monetary limits under Circular No. 9/2024 for appeals below ₹60 lakh.
ITAT Ahmedabad held that AO and CIT(A) confirmed the addition since there was non-compliance on the part of the assessee. Thus, one more opportunity granted to the assessee to present its case however with a direction to deposit INR 2000 to the Prime Minister’s Relief Fund.
