The ITAT Bangalore ruled that a CIT(A) cannot make additions on grounds not specified in the original reopening notice, setting aside additions on share trading deposits.
The ITAT Bangalore ruled that income from sun-dried raisins is agricultural income, exempt from tax, if a farmer uses traditional methods without machinery.
ITAT Bangalore grants a trust unconditional 15% accumulation under Section 11(1)(a), while remanding the issue of additional accumulation for fresh consideration by the AO.
ITAT Bangalore held that cash gifts received from relatives and friends during wedding cannot be treated as unexplained money u/s. 69A of the Income Tax Act merely because each donor is not individually verified. Accordingly, addition directed to be deleted.
ITAT Bangalore held that initiation of revisionary proceedings under section 263 of the Income Tax Act by CIT based on the recommendation of the AO is not maintainable. Accordingly, revisionary order set aside and appeal allowed.
The ITAT Bangalore ruled that late filing of Form 67 is not fatal to a Foreign Tax Credit claim, as the requirement is procedural, not mandatory.
Cash deposits made by assessee during the demonetization period were properly explained and recorded, therefore, addition made under section 69A of ₹17,16,000 and taxed under section 115BBE was not sustainable.
ITAT deleted farm expense disallowances for Crystal Hatcheries, applying Abhisar Buildwell ruling that no incriminating material means no disallowance in unabated years.
ITAT Bangalore deletes ₹25.8L penalty under Section 271D as AO failed to record satisfaction in assessment order. Procedural lapse proved fatal.
ITAT Bangalore directs fresh adjudication for trust registration denial, ruling it cannot be rejected merely for non-submission of documents, especially if notice receipt is disputed.
