ITAT Bangalore held penalty initiation under Sections 271D/271E must be noted in assessment order; temporary family loans without interest are not penalized as deposits.
ITAT Bangalore rules against adhoc expense disallowance without rejecting books of accounts, citing Karnataka HC’s stance in Konkan Marine Agencies case.
ITAT Bangalore held that passing of assessment order without issuance of notice u/s. 143(2) of the Income Tax Act is a fatal one and it cannot also be cured u/s. 292B of the Income Tax Act.
ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the life style of the human beings and therefore is eligible for approval under section 80G of the Income Tax Act.
ITAT Bangalore rules that issuing a notice under Section 143(2) of the Income Tax Act is mandatory for valid assessment after reopening a case. Key ruling details here.
ITAT Bangalore held that AO not allowed to interfere in method selected for valuation of share by the assessee u/s. 56(2)(viib) of the Income Tax Act read with rule 11UA(2) of the Income Tax Rules. Thus, AO cannot change the method from DCF to NAV method.
ITAT Bangalore held that advances given to the director by the company for commercial purpose is outside the ambit of provisions of deemed dividend as provided under section 2(22)(e) of the Income Tax Act.
Read the detailed analysis of Indira Ramaiah Vs ITO case by ITAT Bangalore. ITAT upheld the addition of gift for undisclosed investments and property purchase.
Read the full text of the order by ITAT Bangalore on Mudur Vyavasaya Seva Sahakari Sangha Ltd’s appeal against CIT(A)’s decision. Detailed analysis on eligibility under Section 80P(2)(D).
Explore the detailed analysis of the ITAT Bangalore decision in Goworamma Lingappa Manjula Vs ITO. Understand the implications and legal perspectives. Read more.
