ITAT remands case to CIT(A) for review of delayed Form 10B filing by Jagadguru Shivanand Human Welfare Association. Appeals for Section 11 exemption continue.
ITAT Bangalore held that non-granting of accumulation of income under section 11(2) due to delay in filing Form 10 not justified since delay was condoned by appropriate authority. Accordingly, appeal allowed in favour of assessee.
AO, based on the information, found that both suppliers were subject to proceedings and were found guilty of economic offenses punishable under the relevant CGST Act, 2017, and KGST Act, 2017.
ITAT Bangalore held that interest rate should be charged on the basis of prevailing LIBOR rate and no SBI PLR rate since invoices are raised in foreign currency. Accordingly, it is directed to TPO to apply LIBOR rate as basis for computation of interest.
ITAT Bangalore rules that VAT penalty payments cannot be deducted under Section 37 of Income Tax Act, remanding case for further examination.
ITAT restores Yalamati Raghavendra’s appeal to CIT(A) for adjudication on merits after admitted tax payment, referencing Karnataka High Court’s judgment in SSS Projects Ltd.
ITAT dismisses Duddu Nomeshwar’s appeal as withdrawn, allowing reinstatement if Vivad Se Vishwas Scheme application is rejected by Revenue.
ITAT rules that cash loans advanced in earlier years cannot be taxed under Section 68 in a subsequent year, overturning the AO’s protective assessment.
Assessee was not aware of the notices issued since the same were uploaded only on the e-filing portal: ITAT provided assessee with one more opportunity to represent his case and accordingly the issues are restored to the files of the CIT(A)
ITAT Bangalore cancels ex-parte order in Namtech Electronics Ltd case due to non-compliance with notices, providing another chance to represent before the AO.
