Chandigarh ITAT rules that mere difference of opinion with AO is insufficient for exercising revisionary power under Section 263, confirming Sec 80P deduction.
ITAT upheld disallowance of the claimed expenditure, concluding that mere entries in books of account and inadequate invoices were insufficient to substantiate expenditure on property improvement.
Read the full text of the ITAT Chandigarh’s decision in the case of Manuj Jain HUF Vs PCIT. The assessment order was upheld, rejecting the Section 263 revision regarding demonetization cash deposits.
ITAT Chandigarh held that excess stock found during the course of survey cannot be brought to tax under the deeming provisions of section 69B of the Income Tax Act as the same is undeclared business income and not unexplained investment.
Chandigarh ITAT rules on jurisdiction to levy fee u/s 234E on TDS returns, excluding pre-June 2015 period. Details of Batra Exports Vs DCIT case and analysis.
Delve into the analysis of a trust appeal against the rejection of its 80G registration under the Income Tax Act, 1961, due to limitation issues. Learn about technical glitches, legal arguments, and the final verdict.
ITAT Chandigarh held that addition invoking the deeming provisions of section 69 r.w.s. 115BBE of the Income Tax Act unjustified as nature and source of undisclosed income/ investment duly explained by the assessee.
Chandigarh ITAT ruled interest income from cooperative bank eligible for deduction under Sec 80P(2)(d). Detailed analysis of the case.
Chandigarh ITAT allows additional evidence in assessments under section 144, ensuring fair taxpayer treatment and legal compliance.
Dive into the recent ITAT judgment on Sec 69B & 115BBE, exploring the treatment of unrecorded stock in a business survey. Analysis of AO, CIT(A), and ITAT perspectives.
