ITAT Indore deleted a ₹2 lakh addition for cash deposited during demonetisation, citing CBDT Instruction No. 3/2017 which bars verification for deposits up to ₹2.5 lakhs by individuals.
The ITAT deleted a ₹78 lakh addition made under Section 68 for alleged accommodation entries from two companies, ruling the issue was covered by multiple binding coordinate bench decisions. Following prior judgments, the Tribunal held that M/s Jay Jyoti India Pvt. Ltd. and related entities were genuine concerns, thus the cash credit addition could not be sustained.
ITAT Indore remands assessment orders for AYs 2013-14 to 2018-19 to the AO for de novo consideration, finding that non-compliance during proceedings occurred due to the COVID-19 pandemic and an inoperative email ID, violating natural justice.
ITAT Indore held that reopening of assessment done by Assessing Officer under section 147 of the Income Tax Act, based on tax audit report already available during original assessment, without any fresh and new material is invalid and liable to be quashed.
The ITAT Indore has remanded a tax case to the CIT(A), ruling that the short notice period given to the assessee violated natural justice and warrants a new hearing on the merits.
ITAT Indore remands a case to the CIT(E), ruling that a charitable-cum-religious trust can receive 80G approval if its religious expenses do not exceed 5% of its total income.
ITAT rules in favor of Mariamma Kurian, deleting a Rs.30 lakh tax addition. The court traced the cash deposit to the sale of agricultural land.
Read the full ITAT Indore order on an assessee’s appeal dismissed for a 3-year delay. The court examined reasons for the late filing and rejected the plea for condonation.
ITAT Indore held that AO made addition towards unexplained deposited without being aware of possession of two PAN by single person-assessee. Accordingly, matter remanded to the file of AO with imposition of cost of Rs. 7,000/-.
ITAT Indore sets aside ex-parte order under Section 144 for AY 2017-18, remands case to AO for fresh assessment after admitting additional evidence.
