The Tribunal condoned the delay in filing the appeal after finding that the assessee had no knowledge of the assessment proceedings due to missed email notices. The assessment was restored for de novo adjudication.
The Tribunal ruled that workload and assessment proceedings alone cannot justify extraordinary delay in filing an appeal. The Revenues appeal was dismissed as time-barred due to lack of convincing explanation.
The Tribunal ruled that pursuing a rectification remedy before filing an appeal constituted sufficient cause for delay. The CIT(A)s dismissal of the appeal on limitation was therefore set aside.
The Tribunal observed that CBDT instructions prohibit the AO from examining issues beyond the specific reason for limited scrutiny without proper approval. Additions relating to non-demonetisation cash deposits were therefore restricted.
Bangalore ITAT held that once ownership of agricultural land and cultivation activities are accepted, reasonable agricultural income cannot be rejected altogether. The Tribunal allowed relief for income from rubber plantation activities.
Bangalore ITAT held that unsigned loose sheets, scribblings, and rough jottings without corroborative evidence cannot form the sole basis for tax additions. The Tribunal deleted the protective additions linked to alleged capitation fee receipts.
The Tribunal ruled that surplus funds parked in banks by a co-operative credit society retain the character of business income when linked to member credit activities. Deduction under Section 80P(2)(a)(i) was therefore allowed.
Bangalore ITAT held that interest paid on a housing loan can be treated as part of the cost of acquisition where no deduction was claimed under house property income. The Tribunal directed the AO to allow indexed benefit on such interest expenditure.
The Tribunal ruled that once transfer was held to have occurred in 1993 through the sale agreement, the Assessing Officer could not tax capital gains in Assessment Year 2007-08.
The Bangalore ITAT held that a genuine clerical mistake in Form 10 cannot deprive a charitable trust of exemption under Section 11(2) when the accumulation claim was properly disclosed elsewhere and corrected before assessment completion.
