The Tribunal held that NFAC had no authority to pass reassessment orders before the faceless reassessment notification became operative. As a result, the entire assessment was quashed. The ruling highlights that participation by the assessee cannot cure jurisdictional defects.
The addition was sustained on the ground that earlier cash deposits were not explained. The Tribunal held that the explanation of medical exigency and redeposit was reasonable and directed deletion.
The tribunal rejected demand raised solely due to Form 26AS mismatch caused by employer non-deposit of TDS. The key principle is that employees cannot be penalised for failures beyond their control.
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.
