ITAT directs fresh examination in Ambasa Babansa Raibagi case due to PAN linking error, remitting the Rs. 25.66 lakh addition back to AO.
ITAT Bangalore condones a delay in tax audit filing due to trustee’s illness, directing further assessment per CBDT’s order for tax benefit eligibility.
ITAT Bangalore allows deduction for timely employer PF/ESI contributions in Blue Moon Enterprises case, limiting disallowance to delayed employee contributions.
ITAT Bangalore remitted the matter back to CIT(A) so that assessee can file necessary documents with regard to disallowance made under section 37 of the Income Tax Act as order was passed by CIT(A) without adjourning the matter as sought by assessee.
ITAT Bangalore held that dismissal of appeal by CIT(A) merely because the same was filed belatedly not justified as CIT(A) failed to grant an opportunity of being heard to the assessee so as to the grounds for condonation.
ITAT Bangalore held that when the reasons supplied to the assessee and the reasons supplied before higher forum is not verbatim same, it cannot sustain the validity of reopening of assessment under section 147 of the Income Tax Act.
Appellant has preferred the present appeal. The solitary issue that is raised is whether CIT(A) is justified in confirming the addition of Rs.35,13,000/- as unexplained money by invoking the provisions of section 69A of the Act.
We have to examine delay as excessive or inordinate based on whether there is a reasonable cause for not filing the appeal on time by the assessee and in our view when there is a reasonable cause, the period of delay may not be relevant factor.
It is important to note here that CIT(A) had dismissed the appeal of the assessee in limine without adjudicating on merits. The CIT(A) held that there is a delay of 640 days in filing the appeal before him and there is no reasonable cause for condoning the same.
ITAT Bangalore held that exemption under section 54 of the Income Tax Act allowable based on the amount utilised towards construction of new house property where the construction is not complete.
