The ITAT Hyderabad has largely upheld the disallowance of sub-contractor expenses for ASR Engineering & Projects Ltd., citing lack of genuineness and coordinated cash withdrawals. The tribunal also addressed the validity of revised returns for Section 80IA claims.
ITAT Hyderabad held that addition under section 69 of the Income Tax Act towards unexplained investment sustained since documents seized is incriminating in nature. Accordingly, appeal of assessee dismissed.
ITAT Hyderabad rules on Section 80P deduction for co-operative societies, stating it cannot be denied solely due to a belated income tax return filing.
ITAT Hyderabad held that reference to special audit u/sec.142(2A) of the Act dated 31.12.2018 without satisfying the conditions provided therein, is arbitrary, illegal and void abinitio. Accordingly, final assessment order is quashed.
Hyderabad ITAT rules that TDS credit cannot be denied solely on account of sales returns. Rule 37BA misapplied when income is declared.
Hyderabad ITAT rules Ramalingeswara Swamy Temple’s Section 11 exemption cannot be denied for delayed Form 10BB filing if submitted before assessment order.
ITAT Hyderabad held that it is not obligatory on the part of the CIT(A) to set aside all the best judgment assessment orders passed u/s 144 of the Income Tax Act to the file of the AO. CIT(A) is obligated to address the grievance of validity of jurisdiction assumed by AO for initiating reassessment proceeding.
ITAT Hyderabad remands Ujwal Foundation’s appeals for 80G approval and 12AB registration, citing Supreme Court precedent on considering proposed charitable activities.
ITAT Hyderabad rules that a charitable society’s name change with a new PAN requires fresh Section 12A registration for tax exemption. Net surplus, not gross receipts, to be taxed if exemption denied.
Hyderabad ITAT remands 80G approval rejection, finding the application was dismissed solely due to a typographical error without assessee rectification opportunity.
