ITAT Ahmedabad ruled on Naliniben Dipakbhai Patel vs ITO, deleting an addition under Section 69A, stating investment source investigation belongs to the actual investor.
ITAT Ahmedabad clarifies that common area maintenance charges recovered from a sub-tenant, when reimbursed against actual expenses, are not rental income.
ITAT Ahmedabad rules on Krishnanagar Vaishnvsamaj vs. ITO, allowing a trust to claim deduction for income utilized within the original extended timeframe, despite a recent amendment.
Ahmedabad ITAT deletes Rs. 8.01 lakh income addition based on third-party disclosure, emphasizing the need for independent evidence and cross-examination.
The ITAT Ahmedabad has restored a case involving unexplained cash deposits of Rs. 18.32 lakh to the Assessing Officer, citing a failure to examine debit entries and additional evidence, and condoning a 323-day delay in appeal filing.
ITAT Ahmedabad denies 80G exemption to an educational trust, citing its failure to justify donations made to other trusts.
ITAT Ahmedabad held that once cash sales are accepted as genuine for the purpose of determining profit, the same cannot be added again as unexplained cash credit by invoking provisions of section 68 of the Income Tax Act. Accordingly, appeal of revenue dismissed.
ITAT Ahmedabad rules on the admissibility of new claims during reassessment and appellate proceedings, distinguishing between the limited scope of Section 147 and the broader jurisdiction of appellate authorities.
ITAT Ahmedabad held that amount received as refund for surrender of Life Insurance Policy cannot be treated as unexplained money under section 68 of the Income Tax Act. Accordingly, appeal allowed and addition deleted.
ITAT Ahmedabad held that mere filing of return in response to notice u/s. 148 does not ipso facto justify the invocation of section 270A(2)(b), unless there is a demonstrable act of under-reporting in substance. Thus, penalty deleted as failure to furnish return u/s. 139(1) doesn’t constitute under-reporting.
