The Tribunal ruled that cash seized and previously taxed in the brother’s assessment cannot be taxed again in the assessee’s hands, remanding the issue to the AO for verification.
The Tribunal found that a fixed-deposit mismatch caused an unjustified ₹5.33-crore addition. Delay was condoned and the matter was remanded for fresh assessment with proper verification.
Tribunal accepted the assessee’s explanation for delay and held that denial of opportunity justified remand for fresh assessment under Section 147/144B.
Relying on the Schneider Electric judgment of the Delhi High Court, the ITAT held that absence of a separate immunity order within one month does not justify penalty imposition.
The Income Tax Appellate Tribunal (ITAT) remanded the tax assessment of Maruti Enterprises back to the Assessing Officer, citing a violation of natural justice.
A recent ITAT Patna decision underscores that genuine tax claims aren’t defeated by incorrect section citations. Taxpayers can seek rightful exemptions if conditions are met, even with minor errors.
Delay in appeal filing condoned due to portal issues & festivals. ITAT remands contract work JV’s case for fresh examination of books and income estimation.
ITAT Patna rules against a protective tax assessment on Veena Mishra, a housewife, quashing the addition after evidence of her independent income was presented.
The ITAT Patna ruled that an assessee’s investment in property cannot be taxed as unexplained in the year of registration if the full payment was made in the previous financial year.
Tribunal directs fresh examination of alleged bogus outward expenses in transport business for AY 2014-15, citing careful analysis by CIT(A).
