ITAT Cochin rules Envestnet Asset Management’s assessment order time-barred, emphasizing mandatory timelines and proper record-keeping by tax authorities.
ITAT Cochin affirms PCIT’s order for AO to verify loan interest deduction and Section 14A applicability after loan’s business use questioned.
ITAT Cochin examines capital gains exemption validity under Section 54F and remands agricultural income assessment for re-evaluation.
Cochin ITAT sends back Shwas Homes’ tax appeal for re-adjudication, citing CIT(A)’s failure to consider virtual hearing request. Emphasizes natural justice principles.
ITAT Cochin condoned a 338-day delay in an income tax appeal by an educational institution, attributing it to the death of their auditor, restoring the matter for merit review.
The ITAT Cochin has remanded the Manarkattu Theatres case to the Assessing Officer for fresh adjudication, citing the failure of lower authorities to consider assessee’s submissions and evidence.
ITAT Cochin ruled that Section 40A(3) disallowance does not apply to cash payments for capital assets when no revenue deduction was claimed, overturning a ₹6.55 lakh addition.
Cochin ITAT rules builder eligible for 80IB(10) deduction, clarifying ‘developer’ vs ‘works contractor’ and rejecting reliance on Sales Tax precedents.
ITAT Cochin partially allowed an NRI assessee’s appeal, restricting the disallowance of construction costs to Rs. 10 lakhs from Rs. 1.3 crore and deleting the cost of improvement, citing lack of documentary evidence.
Cochin ITAT confirms additions against Sreepathy Trust for AY 2013-14 and 2016-17 due to insufficient evidence for cash credits under Section 68 of the Income-tax Act.
