The Tribunal held that mandatory prior approval granted in a routine and non-speaking manner violates statutory requirements. Assessments framed on such approval were found legally unsustainable.
Tribunal ruled that a single approval letter covering several assessment years violated statutory requirements. Key takeaway: Section 153D requires separate, reasoned approvals for each year.
Tribunal held that an assessee cannot be penalized for delay caused by professional negligence of counsel, following Supreme Court precedent in Rafiq v. Munshilal, and remanded the case for verification of double addition due to audit reporting error.
ITAT Allahabad held that in the absence of any comparable cases, the past history of the assessee, which has been accepted in many assessments under section 143(3) of the Act, cannot be overlooked. Accordingly, directed to assess net profit @3.5% instead of 7%/5% of contractual receipts.
Ahmedabad ITAT remands Naimishbhai Kantibhai Patel’s reassessment case for a fresh opportunity, citing non-compliance and imposing a Rs. 5,000 cost.
ITAT Allahabad held that renting out of property on day-to-day basis and providing certain facilities to those who would be taking premises on rent seems to be an organized activity of composite nature. Hence, income from the same is treated as business income.
ITAT Allahabad allows Priti Mishra to withdraw appeal against penalty u/s 270A after opting for Vivad Se Vishwas Scheme 2024. Appeal dismissed as withdrawn following tax payment and Form 3 issuance.
ITAT Allahabad held that order passed by PCIT without considering the contentions of the assessee is against the principles of natural justice and accordingly is liable to be set aside. Accordingly, appeal of the assessee allowed.
ITAT Allahabad remands ₹45.4 lakh unexplained cash deposit case, citing lack of evidence and claims of fraud. Assessee given a fresh chance to present facts.
ITAT Allahabad remands a case involving ₹33.29 lakh unexplained cash deposits back to AO due to a mix-up of assessment years by CIT(A).
