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ITAT Raipur

Latest Posts in ITAT Raipur

Non-adjudication of legal ground of jurisdiction by CIT(A) not justified: ITAT Raipur

April 23, 2025 60 Views 0 comment Print

The case of assessee was selected through compulsory manual Statutory notices u/s 143(2) was issued on 21.09.2017. Further, notice u/s 142(1) dated 08.12.2018 and 10.12.2018 were issued, seeking details of sales & purchases of lands, producing books of accounts and to substantiate the Short-Term Capital Gain.

Provisions of section 40A(3) inapplicable as income assessed by applying G. P. rate

April 17, 2025 252 Views 0 comment Print

ITAT Raipur that where the income of the assessee has been computed by applying a gross profit rate, there is no need to look into the provisions of Section 40A(3) of the Income Tax Act as gross profit rate takes care of expenses otherwise than by way of crossed cheque.

Bogus Purchase: ITAT Quashes Reassessment Order on Jurisdiction Grounds

April 17, 2025 441 Views 0 comment Print

ITAT Raipur sets aside assessment against Adarsh Rice Mill due to lack of jurisdiction under Section 147. Merits of the case remain undecided.

Reassessment u/s. 147 without any fresh material not sustainable: ITAT Raipur

April 16, 2025 558 Views 0 comment Print

ITAT Raipur held that reassessment proceedings under section 147 of the Income Tax Act without any fresh material, amounts to mere change of opinion, and hence the same is not sustainable in law.

Fresh examination needed for difference in stock of plant and machinery as compared to previous year

April 16, 2025 177 Views 0 comment Print

ITAT Raipur held that change in method of depreciation can be reason for difference in closing stock of plant and machinery in previous year vis-à-vis opening stock in current year and the same needs further examination, hence matter restored back.

123.97 Cr Addition: 7-Day Notice Period Unreasonable, Rules ITAT Raipur

April 15, 2025 2565 Views 0 comment Print

The case of the assessee was selected for complete scrutiny assessment and notice u/s 143(2) of the Income Tax Act, 1961 was issued. Consequently, notice u/s 142(1) of the Income Tax Act, 1961 were also issued.

TDS credit as reflected in Form 26AS is allowable: ITAT Raipur

April 12, 2025 168 Views 0 comment Print

ITAT Raipur held that due to non-response for assessee if addition of income is done as Form 26AS then obviously TDS credit available in Form 26AS needs also to be allowed. Thus, appeal partly allowed.

Order passed by CIT(A) without considering adjournment request not tenable: ITAT Raipur

April 11, 2025 543 Views 0 comment Print

ITAT Raipur held that passing of order by CIT(A) without considering adjournment request of the assessee is not justifiable in law. Accordingly, matter restored back to CIT(A) to re-adjudicate the same after affording reasonable opportunity of being heard.

CBDT Instruction No. 03/2017 followed by partly allowing cash deposit during demonization

April 11, 2025 291 Views 0 comment Print

ITAT Raipur held that addition towards cash deposited during demonization period partly set aside based on CBDT Instruction No. 03/2017 dated 21.02.2017. Accordingly, appeal of assessee partly allowed.

Change of Opinion without New Material: ITAT Raipur Quashes Reassessment

April 5, 2025 222 Views 0 comment Print

ITAT Raipur quashes Sec 147 reassessment in ITO Vs Bishambhar Dayal Agrawal. Held reopening based on change of opinion, not new material, is invalid. Cites Kelvinator.

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