The ITAT Bangalore ruled in favor of Lakshmanram Bheemaji Purohit, deleting an addition for alleged bogus purchases. The court held that no disallowance can be made when an assessee files income under Section 44AD without exceeding turnover limits.
ITAT Bangalore held that expansion of scope of limited scrutiny without obtaining required prior approval as directed under CBDT Order No. F.No.225/402/2018/ITA.II dated 28.11.2018 is bad-in-law and hence order of AO is liable to be quashed.
ITAT Bangalore held that the interest income received by way of mandatory / statutory deposits would also eligible for deduction u/s. 80P(2)(a)(i) of the Income Tax Act by treating the said income as business income. Accordingly, appeal of the assessee allowed.
ITAT Bangalore allows Section 54F capital gains exemption for an assessee, validating oral Hiba (gift) under Mohammedan Law and overturning previous denials.
ITAT Bangalore held that provisions of section 45(4) of the Income Tax Act are application only when there is transfer of any asset to the partners account from the firm. Accordingly, section 45(4) cannot be invoked in case of incremental capital brought in by the new partner.
Bangalore ITAT deletes tax additions based on third-party seized documents and retracted statements in DCIT vs. Gopal Krishnanatsa Katigar. Ruling highlights necessity of direct evidence, upholding principles of natural justice and cross-examination rights.
Bangalore ITAT mandates 80G approval for Academy of General Education, clarifying CIT(E)’s scope is limited to verifying genuine activities and statutory compliance, not income utilization or fee nature.
ITAT Bangalore overturns CIT (Exemptions)’s rejection, granting City Hospital Charitable Trust 80G approval. The tribunal clarified the scope of inquiry for 80G approval, emphasizing genuineness over fund application at this stage.
ITAT Bangalore held that once the audit report filed in form 10B to be available with the Assessing Officer before the assessment proceedings take place, the requirement of Law is satisfied. Thus, exemption under section 11 of the Income Tax Act allowed.
ITAT Bangalore rules that 80G approval hinges on genuine charitable activities, not solely on fee surpluses or accumulated funds. The ruling clarifies the scope of CIT(E)’s inquiry for 80G applications.
