Tribunal also took note of the fact that AO had merely reproduced identical reasons for multiple years without verifying facts or forming a belief based on individual year-specific material.
ITAT Ahmedabad held that addition u/s. 68 of the Income Tax Act towards capital contribution deleted since assessee furnished adequate evidence to prove the identity, genuineness and creditworthiness of the partner. Accordingly, appeal of revenue dismissed.
ITAT Ahmedabad held that addition under section 68 of the Income Tax Act unsustainable since revenue/ department failed to establish that LTCG earned is non-genuine. Accordingly, appeal of revenue dismissed.
ITAT Ahmedabad held that donation to, Shri Arvindo Institute of applied scientific research, which is not recognised research institute is not eligible for deduction under section 35(1)(ii) of the Income Tax Act. Accordingly, deduction disallowed and appeal dismissed.
Additions under Section 69A could not be sustained without concrete evidence and due process and AO had not brought any tangible evidence to prove the alleged cash loan.
ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable as assessment made by AO after proper verification of evidences. Further, assessment order is neither erroneous nor prejudicial to interest of revenue.
ITAT Ahmedabad rejects PCIT’s revision under Section 263, holding AO had duly verified cash deposits and creditors during demonetization scrutiny.
ITAT Ahmedabad remands Rajeshri Malviya’s case. CIT(A) failed to consider additional evidence (Rule 46A) for S.54G exemption claim.
ITAT Ahmedabad ruled against penalty under 270A for misreporting income, citing correct filing and tax payment after notice. Case details.
TAT Ahmedabad restores Seva Samarpan Charitable Trust’s 12A registration rejection, citing lack of opportunity. Orders CIT(E) to review.
