The ITAT Cochin bench has set aside the rejection of Quilon Poor Home’s S.12A and 80G claims, citing a genuine delay in producing a 70-year-old trust deed.
CIT(A) dismissed the appeals and upheld the assessments with the additions. It was held that search assessments were legally valid, JCIT had granted proper approval after due consideration, and the additions were based on incriminating material found during the search.
ITAT Cochin sent a case back to the tax officer for review. The Tribunal ruled that cash payments made on Sundays and public holidays may be exempt from disallowance under Section 40A(3), per Rule 6DD.
ITAT Cochin allows Section 80P deduction for a Primary Agricultural Credit Cooperative Society, applying the Supreme Court’s Mavilayi ruling and overruling earlier decisions.
The ITAT Cochin rules that additions enhancing business income for a Primary Agricultural Credit Cooperative Society are eligible for deduction under Section 80P.
The ITAT Cochin confirmed a penalty under Section 271D for a taxpayer who accepted a large cash payment for property, ruling that ignorance of the law is not a reasonable cause.
The ITAT Cochin has dismissed appeals by Trivandrum Cable Network (P.) Ltd., upholding additions made under Section 153A based on incriminating material found during search operations.
The ITAT Cochin has ruled against Muthoot Fincorp, confirming the disallowance of expenses due to non-deduction of TDS on a composite contract.
Cochin ITAT remanded ₹25 lakh addition, holding CIT(A) erred by invoking Section 68 without notice. Matter sent back for fresh adjudication after hearing assessee.
The ITAT Cochin ruled that cash received as a final payment during a property registration is not a violation of Section 269SS, waiving the penalty.
