ITAT Hyderabad grants partial relief to agriculturist in cash deposit case during demonetization, citing agricultural income sources. Addition reduced to Rs. 2 lakhs.
Hyderabad ITAT grants additional opportunity to taxpayer to explain nature & source of cash deposits made during demonetization. Read full text.
Explore the Mandava Foundation vs. ITO case, where the Hyderabad ITAT condones an assessee’s mistake in registration, allowing them to rectify the error and granting regular registration.
Analysis of ITAT Hyderabad’s ruling on a penalty order, questioning misreporting of income when the issue was under-reporting, in Mohd. Sarwar Vs ITO case.
Read the detailed analysis of ITAT’s decision directing TDS exemption verification for FSL Projects Limited Vs DCIT. Full text available.
Read the detailed analysis of the ITAT Hyderabad order quashing the assessment for A.Y. 2009-10 due to absence of property valuation report. Learn about the case of Khairunnisa Vs ITO.
In Adil Rehman’s case, ITAT Hyderabad allows expenditure on special power of attorney, air tickets, hotel stays, etc., as deductible in computing capital gains under Section 48(i) of the Income Tax Act.
In the case of Aurobindo Pharma Limited Vs ACIT before the ITAT Hyderabad, a Miscellaneous Application (MA) was dismissed as it raised arguments not presented during the main appeal and emphasized the restricted scope of Section 254(2).
ITAT Hyderabad held that revision under section 263 of the Income Tax Act justified as consistency not followed in treatment of foreign exchange gain/loss amounts to error in sofar as it is prejudicial to the interest of revenue.
ITAT Hyderabad finds 90% profit from development activities highly unusual, calling for a reevaluation of contracts and use of government funds.
