ITAT allows ASAN Memorial Association’s claim for statutory deduction under Section 11 despite filing errors in the Income Tax Return for AY 2016-17 and 2017-18.
ITAT Chennai remands the case on bogus purchases of Rs.92.43 lakhs to the AO for re-adjudication, allowing new evidence and addressing 80-IA deduction issue.
ITAT Chennai held that corrigendum issued by AO to rectify the mistake made while issuing original assessment order is legal and valid. Accordingly, matter remanded back to CIT(A) for adjudication on merits.
ITAT Chennai held that an AO is not permitted to take different stand on the same issue and same set of facts over different years. Thus, exemption u/s. 11 granted in spite of the fact that return was filed using ITR-6.
ITAT Chennai held that action of AO based on jurisdictional High Court decision as prevalent on the specified time, which was later on reversed by the Supreme Court, cannot be held to be erroneous and prejudicial to the interest of revenue.
ITAT Chennai held that the condonation of delay should not be dismissed for the reason that the appeal filed belatedly is not accompanied by condonation petition. Thus, order set aside and matter remanded back.
ITAT Chennai allowed the appeal of Tractors and Farm Equipment Ltd, overturning the penalty under section 271(1)(c) for inaccurate income particulars.
ITAT Chennai remands case back to AO for de novo assessment in Sardar Jabasingh vs ITO over unexplained cash deposits under Section 68. Read full details.
ITAT Chennai orders reassessment in G. Elumalai case, allowing for verification of agricultural and rental income sources after cash seizure during Vellore elections.
The evidences relied upon by AO in the form of excel sheets did not constitute adequate evidence to draw adverse inference against tassessee, in the absence of any other corroborative evidences.
