ITAT Raipur directs tax authorities to limit bogus purchase additions to profit margins, citing Bombay HC precedent on genuine sales.
ITAT Raipur nullifies Mir Zardari Qureshi’s assessment, ruling original Section 148 notice issued by non-jurisdictional officer was invalid.
ITAT Raipur cancels reassessment for Vinay Agrawal (AY 2014-15 & 2015-16) due to time-barred Section 148 notices. Decision relies on Supreme Court rulings in Ashish Agarwal and Rajeev Bansal.
ITAT Raipur sets aside reassessment order for Kachrulal Jitendra Kumar, ruling the Section 148 notice time-barred. Cites Supreme Court judgments in Ashish Agarwal and Rajeev Bansal on reassessment limitation.
ITAT Raipur set aside ex-parte order passed by CIT(A) since the reason for non-compliance by the assessee before CIT(A)/NFAC was that the hearing notices have been sent in the wrong email id by the department. Accordingly, matter of accommodation entries remanded back to CIT(A).
ITAT Raipur held that in case of bogus/ sham transactions it is the responsibility of revenue authorities to investigate and decide that whether bogus transactions fall within the category of tax planning or tax evasion. Accordingly, matter restored back to AO for fresh consideration.
ITAT Raipur held that addition of commission @1% on bogus sales transacted upheld as no plausible explanation provided by the assessee. Accordingly, appeal dismissed and order of CIT(A) upheld.
The ITAT Raipur ruled in favor of Kuldeep Jiwan Mahant, deleting an addition made under Section 68 for cash deposits, citing bank passbooks are not “books” for this section.
ITAT Raipur rules in favor of Asha Soni, vacating a Rs. 35 lakh unexplained cash credit. The court found that Section 68 additions cannot be made if no books of accounts are maintained.
ITAT Raipur held that ex-parte order passed by CIT(A) is liable to be set aside since there were justifiable reasons for the assessee trust of having remained unaware about the on-going appellate proceedings before the CIT(A). Accordingly, matter restored back for fresh consideration.
