The ITAT Bangalore ruled that TDS credit cannot be denied based on a processing mismatch alone. The AO must verify the claim against Form 26AS and grant the correct credit.
The ITAT Bangalore allows a reasonable estimate for cost of improvement and remands a case to verify if two adjacent houses can be considered a single unit for a capital gains exemption.
ITAT Bangalore held that revisionary proceeding by PCIT under section 263 of the Income tax Act treating assessment order erroneous and prejudicial to interest of revenue upheld since assessee could not demonstrate that the equipment’s were received on returnable basis.
ITAT Bangalore deletes disallowance of labor expenses, ruling that self-made vouchers are valid documentation for agricultural businesses where third-party bills are not available.
The Bangalore ITAT ruled that a 20% profit estimation was excessive for an assessee without maintained books. It held that past profit trends are the best guide and restricted the estimation to 8% of turnover.
The ITAT Bangalore ruled that a partner’s sworn statement alone is not enough to make tax additions. Corroborating evidence is required for unexplained cash and loans.
ITAT Bangalore ruled that an omission to claim a tax rebate under Section 87A is a valid reason to file a revised return. The taxpayer was granted the rebate.
The ITAT Bangalore remitted a case on trust registration, ruling that proposed activities and infrastructure spending can be considered genuine charitable activities.
The ITAT Bangalore has ruled that a charitable trust’s spending on land and building is for charitable purposes. Learn how this decision affects trust registration and tax exemptions in India.
The ITAT has set aside a penalty order against a taxpayer, Murmu Pankaj Kumar, ruling it was premature as the core quantum appeal was still pending before the CIT(A).
