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.
ITAT Ahmedabad rules that Section 13(1)(b), which addresses trusts for specific communities, is irrelevant at the registration stage. The provision applies only during assessment to determine exemptions.
ITAT Ahmedabad partially allows an appeal by Bhikhabhai Hirabhai Patel, reducing late filing fees after ruling that TDS is not applicable to property transfers under Rs. 50 lakhs per transferee.
The ITAT Ahmedabad ruled that the TDS threshold under Section 194IA applies to the payment made to each individual seller, not the total transaction value.
The ITAT ruled that an assessment initiated before an assessee’s death is not void. It remanded the case, directing the AO to re-do the assessment in the legal heir’s name.
ITAT Ahmedabad held that applying Standard Operating Procedure [SOP] of CBDT, a cash deposit of 2,50,000/- by an individual without business income should be treated as prima facie explained. Hence, addition u/s. 69 to that extent is not justifiable.
ITAT Ahmedabad ruled on Unimed Technologies’ software license and renewal expenses, classifying them as revenue. The tribunal also addressed interest expenditure disallowance.
ITAT Ahmedabad upholds reassessment validity despite technical error, but incomplete text prevents full summary on undisclosed income addition.
