Cuttack ITAT cancels penalties under sections 271D and 271E, ruling that the Assessing Officer must record satisfaction in the assessment order before initiating penalty proceedings.
The ITAT Cuttack has remanded a case involving a ₹9 lakh cash deposit to the CIT(A), granting the assessee one final opportunity to produce evidence after a delay of 302 days due to illness.
ITAT Cuttack confirmed a Section 270A penalty on Ganesh Chit Fund, rejecting immunity due to failure to file the prescribed Section 270AA application
ITAT Cuttack condones 99-day delay in tax appeals due to personal problems, remanding cases for fresh adjudication based on Supreme Court precedent.
ITAT Cuttack overturns ₹5.01 lakh addition, ruling business receipts are a substantiated source for cash deposits. Ad-hoc expense disallowance also deleted for AY 2017-18.
ITAT Cuttack condones delay and restores appeal in case of estimated income on cash deposits due to lack of representation before CIT(A).
ITAT Cuttack held that reassessment proceedings cannot be sustained since issue already considered during original assessment by AO and hence reopening amounts to change of opinion. Accordingly, order quashed.
ITAT Cuttack remands Odisha Rising Foundation Trust’s 80G registration case for fresh review, citing incomplete submission and a need for re-evaluation.
ITAT Cuttack rules against revenue, quashing Dilip Constructions’ assessment citing mechanical approval without proper review. Judicial precedents cited.
ITAT Cuttack held that revisionary proceedings under section 263 of the Income Tax Act is liable to be quashed since assessee is entitled for exemption u/s. 11 and hence twin conditions are not satisfied in as much as there is no loss of revenue.
