The ITAT Ahmedabad deleted a Rs. 26.49 lakh addition, ruling that foreign remittances into an NRE account were a valid source for a property purchase.
The ITAT Ahmedabad deleted a ₹16.69 lakh addition, ruling that Section 69A cannot be invoked mechanically when the assessee provides evidence of business receipts.
The ITAT Mumbai ruled that an assessment order passed on an amalgamated company after authorities were informed is void, citing the Maruti Suzuki precedent.
The ITAT Ahmedabad quashed a reassessment notice, ruling that the Assessing Officer’s use of “either…or” language indicated a lack of proper application of mind.
The ITAT Ahmedabad set aside a reassessment order for Dalpat Baraiya, ruling that approval from the wrong authority invalidated the entire proceeding.
ITAT Ahmedabad rules that employer contributions to an annuity plan are not taxable for VRS retirees until the benefits are actually received, providing relief from double taxation.
ITAT Ahmedabad held that mere titular ownership of bank account is not conclusive. Thus, addition u/s. 69A of the Income tax Act towards unexplained cash deposit cannot be sustained without proper inquiry into identity of actual beneficiary of cash deposits.
ITAT Ahmedabad has removed a Rs. 52.91 lakh tax addition on a land purchase, citing unreliable evidence from a draft Memorandum of Understanding (MOU).
ITAT Ahmedabad limits business expense disallowance to 10% for Raj Quarry, citing lack of AO justification and assessee’s loss position.
ITAT Ahmedabad sends unexplained demonetization cash deposit case back to AO, granting assessee new chance to explain source after ex-parte order.
