ITAT Raipur held that penalty under section 271(1)(c) of the Income Tax Act justifiable since no plausible explanation provided for amount of understated/ suppressed net profit. Accordingly, appeal dismissed and penalty upheld.
ITAT Raipur held that dismissal of appeal by CIT(A) without disposing off on merits, merely on account of non-prosecution is unjustifiable. Accordingly, order set-aside with direction to dispose off on merits.
ITAT Raipur held that adding entire bank receipts without inquiries from parties is unjustified. Case remanded for further examination under natural justice principles.
ITAT Raipur held that addition towards unexplained cash deposits under section 69A of the Income Tax Act is liable to be set aside in as much as the source of cash deposits duly explained. Accordingly, appeal restored to AO with direction to re-adjudicate the issue.
ITAT Raipur permits assessee to withdraw a duplicate tax appeal filed due to a technical error, dismissing the case as withdrawn.
ITAT Raipur held that addition under section 68 towards unsecured loan from related party cannot be sustained since identity, creditworthiness of lender and genuineness of transaction proved. Hence, appeal of revenue dismissed.
ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being heard to appellant is bad-in-law. Accordingly, matter restored back to file of CIT(A).
ITAT Raipur held that AO has passed the final assessment order u/s.143(3) r.w.s. 153B(b) of the Act without seeking a prior approval of the same by the Jt. CIT u/s. 153D of the Income Tax Act and hence the order so passed is liable to be quashed.
It is submitted on behalf of assessee that he is engaged in the business of transportation and logistics services and such business is being conducted by the assessee in his personal capacity as well as in capacity of the Proprietor of “M/s Tanvi Roadways”.
ITAT Raipur held that exemption under section 11 and section 12 of the Income Tax Act not admissible to assessee society due to non-furnishing of return of income as required u/s. 12A(1)(b) of the Income Tax Act.
