Assessee is a co-operative society engaged in the business of providing credit facilities to its members. Assessee is claiming deduction u/s. 80P(2) of the Income Tax Act. Notably, vide intimation u/s. 143(1), the deduction u/s. 80P(2)(d) was disallowed.
ITAT Bangalore rejected Jurimatrix Services’ appeal citing a 596-day delay and no grievance against a Section 263 order, highlighting the need for timely and forum-appropriate appeals.
ITAT Bangalore rules that merely disallowing advances written off and interest claims does not warrant a penalty under Section 271(1)(c), reinforcing that an honest claim, even if rejected, is not an inaccurate particular of income.
ITAT Bangalore held that delay of more than 5 years in filing of an appeal before CIT(A) condoned as reason for delay found to be genuine. Accordingly, order of CIT(A) quashed and matter restored back to CIT(A).
ITAT Bangalore directs relief for Goldman Sachs Services, quashing TP adjustment and allowing Section 80G for CSR, citing prior judgments on secondment issues.
: ITAT Bangalore rules on CSR expenditure, allowing Section 80G deductions despite Section 37 disallowance. A key decision for corporate taxation.
ITAT Bangalore held that eligibility u/s. 80P should be assessed in the light of the relevant state cooperative law. Under Karnataka Cooperation Societies Act [KCSA], the presence of nominal and associate members is lawful and does not break the mutuality principle.
Bangalore ITAT remands Om Prakash Girgaonkar’s appeal to AO, citing potential double addition on property purchase and unverified cash deposits.
Bangalore ITAT cancels reassessment proceedings against Amit Kumar Banthia (HUF) due to the Assessing Officer’s failure to follow mandatory procedures.
ITAT Bangalore held that order rejecting application for approval under section 80G of the Income Tax Act passed by CIT(E) under incorrect name has resulted into confusion and procedural irregularity. Hence, matter remanded for fresh adjudication.
