ITAT Hyderabad nullifies reassessment orders in Gangaram Reddy case due to absence of notice under Section 143(2), despite return filed in response to 142(1).
ITAT Hyderabad deletes penalty u/s 271D on cash receipts for agricultural land sale, citing reasonable cause and prior rulings. Appeals allowed
ITAT Hyderabad deletes ₹33 lakh addition under Section 115BBE, ruling that cash seized and declared as business income should be taxed at normal rates, not as unexplained income.
Tribunal ruled that contributions to workers’ educational institutions under NCWA are statutory obligations and not voluntary expenses. Disallowance under Section 40A(9) was deleted. Issues on TDS, Section 43B and double disallowances remanded to AO for verification.
ITAT Hyderabad upholds PCIT’s Section 263 order as AO failed to verify 99% subcontract expenses; reassessment directed for unverified GST-linked subcontract claims.
ITAT Hyderabad partly allows Revenue’s appeal in Net Net Ventures case. Rs.7 Cr addition deleted; Rs.1.47 Cr and Rs.1.73 Cr issues remanded for verification.
ITAT Hyderabad held that levy of late filing fee u/s. 234E of the Income Tax Act for 1st, 2nd, and 3rd quarter TDS return in Form 26Q not justified since all the 3 quarter returns filed on or before due date of filing 4th quarter return and reasonable cause shown. Accordingly, appeal allowed.
The Income Tax Appellate Tribunal (ITAT) Hyderabad has set aside a tax authority rejection of a charitable trust application for permanent registration citing a violation of natural justice principles.
ITAT Hyderabad directed to reconsider claim of concessional tax rate benefit u/s. 115BAA of the Income Tax Act since Form 10-IC filed belatedly but was filed before cut-off date i.e. 30.06.2022 as prescribed by CBDT Circular No. 6/2022. Accordingly, appeal allowed for statistical purpose.
The ITAT Hyderabad dismissed an appeal by an assessee due to an inordinate delay of over six years, finding the reasons provided for the delay to be insufficient and lacking credible evidence.
