ITAT Ahmedabad rules Section 13(1)(b) applies only during assessment, not registration, remands trust 12AB application to CIT(E).
ITAT Ahmedabad held that matter regarding rejection of registration under section 12A of the Income Tax Act remitted back to file of CIT(E) with direction to explain the fulfillment of conditions as stipulated u/s.12A(1)(ac)(vi)-Item B of the Act.
ITAT Ahmedabad restores ₹26.84 lakh depreciation disallowance for IIIT Society, directs AO to verify if asset cost was claimed as application of income.
ITAT Ahmedabad restores ₹15.88 lakh reassessment addition, directs AO to re-verify cash deposits after considering evidence overlooked by lower authorities.
ITAT Ahmedabad held that revisionary order passed under section 263 of the Income Tax Act in the name of non-existent entity (amalgamated company) is liable to be quashed. Accordingly, the appeal of the assessee is allowed.
ITAT Ahmedabad held that claim of assessee that income declared under Pradhan Mantri Garib Kalyan Yojana [PMGKY] and hence the same should not be treated as unexplained deposits needs verification. Hence, matter remitted to AO to verify the same.
ITAT Ahmedabad held that addition under section 69A of the Income Tax Act not sustained since three key ingredients i.e. identity, genuineness and creditworthiness of parties being proved. Accordingly, appeal of assessee allowed.
ITAT Ahmedabad sets aside CIT(E) order rejecting 12A registration, citing denial of adequate opportunity, restores matter for fresh adjudication.
ITAT Ahmedabad partly sets aside PCIT order, rules PCIT cannot issue mandatory direction to add income for accommodation entries under Section 263.
ITAT Ahmedabad orders AO to re-examine rectification request after depreciation was wrongly considered as net profit in tax intimation.
