Assessee had satisfactorily explained the source of credits in his books and consequently, CIT(A) had rightly deleted the additions after relying on various judgments made by AO.
ITAT Bangalore remands MJN Foundation’s 80G application after rejection for non-compliance. CIT(E) to reconsider after providing a fair hearing.
Read the full text of the ITAT Bangalore order in the DACSS Granites Pvt. Ltd. case. The tribunal rules that immunity under Section 270AA(2) cannot be denied due to a belated Form-68 application.
ITAT Bangalore condones delay in appeal by Akshaya Builders and remands the case for fresh assessment with costs after dispute among partners.
In the case of Eapen George Vs ITO (ITAT Bangalore), the Tribunal examined the non-resident’s right to be heard during reassessment proceedings and the rejection of additional evidence.
ITAT Bangalore held that merely because the assessee has failed to prove any benefit from services received the disallowance of transfer pricing cannot be made. Accordingly, one more opportunity granted to assessee to prove the case.
Assessee has preferred an appeal before Addl/JCIT(A) who allowed the appeal by observing that the ICDS adjustments were made under the head ICDS-I & ICDS-VI relates to accounting policies and changes in the exchange rates.
Thereafter, PCIT called for the assessment records and examined the proceedings. CIT(A) after going through the case records and assessment records took a view that the order passed by the AO is erroneous and prejudicial to the interest of revenue.
ITAT Bangalore held that penalty under section 271D of the Income Tax Act not imposable for acceptance of cash on transfer of agricultural land as non-compliance with section 269SS of the Income Tax Act was due to bonafide belief.
On appeal CIT (A) held that disallowance u/s 10AA can be made only when the total income is enhanced by the AO or TPO. Co-ordinate bench has already decided this issue for AY 2014-15 and disallowance u/s 10AA was deleted.
