The ITAT held that exemption under Sections 11 and 12 could not be denied merely due to issues relating to filing of Form No. 10. The Assessing Officer was directed to grant relief in accordance with law.
ITAT Indore held that delayed filing of Form 10E due to Covid-19 related circumstances should not automatically deny substantive relief under Section 89 if the assessee is otherwise eligible.
ITAT Indore held that appellate order violated principles of natural justice after finding that key hearing notices were sent to an incorrect email address. The matter was remanded for fresh adjudication.
ITAT Indore held that exemption under Section 54B cannot be denied when investment in new agricultural land was made within the prescribed two-year period. The Tribunal ruled that procedural non-compliance with the Capital Gain Deposit Scheme was not sufficient to reject the claim.
ITAT Indore held that Section 54 exemption cannot be denied merely for failure to deposit capital gains in the Capital Gain Deposit Scheme. The Tribunal ruled that actual investment in a new residential house within the prescribed two-year period satisfies the substantive requirement.
ITAT Indore set aside the appellate order denying TDS credit after the assessee produced Form 16A and Form 26AS showing deduction and payment of tax by the deductor. The matter was remanded to the Assessing Officer for verification and grant of eligible credit.
The ITAT Indore held that Section 50C could not be invoked where the difference between actual sale consideration and stamp duty valuation was only 1.19%. The Tribunal directed adoption of actual sale consideration as the full value for capital gains computation.
ITAT Indore set aside the ex parte appellate order after noting that the assessee had died and the legal heirs could not effectively pursue the proceedings. The Tribunal granted one final opportunity for fresh adjudication on merits.
The case examined whether interest earned from co-operative banks qualifies for deduction under Section 80P(2)(d). The Tribunal held that co-operative banks are also co-operative societies, making such income eligible.
The issue was whether a notice issued before filing of return satisfies Section 143(2) requirements. The Tribunal held such notice is invalid, rendering the assessment void ab initio.
