The ITAT Hyderabad ruled that a penalty for under-reported income was invalid because the assessing officer made no fresh additions beyond the disallowance already made by the CPC.
The ITAT Hyderabad ruled that a registered document’s operative date is its signing and presentation for registration, not scanning, invalidating the tax authority’s reopening of assessment for AY 2017-18.
ITAT Hyderabad held that addition towards bogus purchases based on supporting documentary evidence, without carrying out necessary verification from GST department, cannot be sustained. Accordingly, matter restored back to file of AO for re-adjudication.
ITAT Hyderabad held that rejection of books during assessment proceedings does not retrospectively nullify the obligation to comply with section 44AB of the Income Tax Act within the prescribed time. Accordingly, penalty under section 271B upheld.
Additions made on account of cash deposits during the demonetization period and disallowance of loss on the derivative transactions, were remanded for fresh adjudication after the verification of sales records and transaction nature.
Revenue argued that since assessee was an “eligible assessee” under section 144C(15), AO rightly passed the order and the final order was valid within the time limit of section 153(4). On appeal.
ITAT Hyderabad quashes the cancellation of John Foundation’s registration, ruling that the action was based on suspicion rather than evidence.
ITAT Hyderabad held that passing of assessment order without Document Identification Number [DIN] is invalid and nonest in the eye of law. Accordingly, order shall be treated to have never been issued.
The ITAT Hyderabad ruled that an adjustment under Section 50C is not a prima facie issue when title and valuation are disputed, mandating a DVO referral.
The ITAT Hyderabad ruled against taxing a temple’s gross donations, mandating expenses be considered. It also set aside a registration rejection due to non-compliance.
