ITAT Bangalore remits Saiganapath Hotel’s appeal for AY 2012-13 to CIT(A) after the assessee missed notices due to ongoing litigation with SBI.
ITAT Bangalore remits Rs. 2.24 crore capital introduction issue to AO for fresh consideration, with costs and direction for submission of evidence.
ITAT Bangalore condones a 50-day delay and directs CIT(A) to reassess an appeal involving a deceased assessee’s TDS claims, ensuring substantial justice.
ITAT Bangalore held that once the sale consideration mentioned in the sale deed differs from the stamp value adopted by the officer, AO has to adopt the procedures contemplated u/s. 50C of the Act. Accordingly, appeal filed by the assessee dismissed.
AO also made an addition on account of refundable security deposits paid by the developer to the assessee while entering the Joint Development Agreement as income of the assessee.
ITAT Bangalore held that delay of 85 days in filing of appeal before CIT(A) condoned on medical grounds. Accordingly, matter remitted back to CIT(A) for fresh consideration on merits.
The assessee is a souharda cooperative society duly registered under the Karnataka Souharda Sahakari Act, 1997 and is engaged mainly in the business of accepting deposits from members and lending credit facilities to its member.
ITAT Bangalore held that delay of 1809 days in filing of an appeal condoned since reasonable cause shown for the delay. Accordingly, appeal allowed and AO directed to allow Foreign Tax Credit after due verification of Form 67.
Addition of Rs.10 Crore under Section 271(1)(c) was not justified as Revenue failed to specify whether the addition was being made alleging concealment of income or for furnishing inaccurate particulars of income.
The assessee is a wholly owned subsidiary of Samsung Electronics Company Ltd. The assessee filed the return of income for AY 2015-16 on 30.11.2015 declaring a total income of Rs. 238,85,10,090/-.
