ITAT Indore has remanded a case to the CIT(A) for de novo adjudication after finding the appellate authority ignored the assessee’s reply and tax computation, violating natural justice.
The ITAT Indore has remanded the case of Mahavir Yuva Sarva Trust back to the CIT (Exemption) for re-evaluation of its application for permanent registration under Section 12AB.
ITAT Indore held that retrospective cancellation of registration granted under section 10(23C)(vi) of the Income Tax Act invalid. Amendment brought in statute via Finance Act, 2022 is prospectively effective from 01.04.2022.
ITAT Indore held that there is no authority to deny exemption u/s. 10(23C)(vi) for non-filing return since 20th Proviso to section 10(23C) denying exemption for non-filing return u/s. 139(4C) came to statue from AY 2023-2024 only.
ITAT Indore rules excess gold stock found during search is business income, not unexplained investment, and 115BBE not retrospective.
ITAT Indore rules surrendered excess stock found during survey is business income, not unexplained investment under Section 69B, thus bypassing Section 115BBE higher tax rates.
ITAT Indore rules excess stock surrendered during survey by Suresh Aluminium is business income, not unexplained, directing normal tax rates. Cites key precedents.
ITAT Indore held that addition under section 68 of the Income Tax Act, after rejection of books of accounts under section 145, by the AO is not justifiable in law. Accordingly, AO is directed to delete the addition.
ITAT Indore deleted Rs. 70.13 lakh investment addition, ruling source of funds sufficiently explained, overturning part of CIT(A) order.
Assessee claimed deduction of IMC Transfer Expenses, City Environment Expenses, Contribution and Aid Expenses, Land Acquisition and Diversion Expenses which the AO disallowed the same.
