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ITAT Raipur

AO made error in considering the clerical mistake in consolidated amount of capital: ITAT deleted addition

February 8, 2025 111 Views 0 comment Print

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”.

Society not entitled to exemption under sections 11 and 12 due to non-filing of return of income

February 1, 2025 288 Views 0 comment Print

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.

Addition u/s. 69 against unexplained investment sustained in absence of sufficient evidences: ITAT Raipur

October 5, 2024 453 Views 0 comment Print

The assessee is an individual, whose case for AY 2011-12 was reopened on the basis of AIR information available in the system of department, accordingly, a notice u/s 148 was issued on 30.03.2018 and served upon the assessee through RPAD.

If statutory liabilities are not routed through the profit and loss account, will they still be disallowed under Section 43?

September 12, 2024 4650 Views 0 comment Print

Summary of cross appeals involving VAT disallowances under Section 43B for AY 2018-19, addressing accounting methods, CIT(A) decision, and case law reliance.

Addition based on notional entry without actual transfer of asset unsustainable: ITAT Raipur

September 2, 2024 483 Views 0 comment Print

ITAT Raipur held that tax implication of the gift transaction shall arise in the year in which the said asset will be sold/transferred. Thus, addition based on the notional / fictitious entry of asset made in books of account unjustified.

Penalty u/s. 272A(1)(d) not imposable when assessment completed u/s. 143(3): ITAT Raipur

September 2, 2024 1596 Views 0 comment Print

ITAT Raipur held that penalty imposed under section 272A(1)(d) of the Income Tax Act unjustified when an assessment has been completed under section 143(3) of the Income Tax Act.

Addition u/s 68 was deleted as no incriminating material found during search for Unabated AY

August 29, 2024 753 Views 0 comment Print

However, the completed/unabated assessments could be re-opened by the AO in exercise of powers under sections 147/148, subject to fulfilment of the conditions as envisaged/mentioned under sections 147/148 and those powers were saved.

Request to restore matter not granted as matter not represented by assessee since long time: ITAT Raipur

August 28, 2024 267 Views 0 comment Print

ITAT Raipur held that law will help only those who are vigilant and will not assist the one who are careless. Accordingly, request of assessee to restore matter back not granted as assessee has chosen not to represent its matter for more than 08 years.

Deletion of Unexplained Cash Without Proper Verification Unjustified; Matter Restored: ITAT Raipur

August 27, 2024 324 Views 0 comment Print

ITAT Raipur held that CIT(A) deleted the addition towards unexplained cash under section 68 of the Income Tax Act without proper verification of the facts and evidences and thus the matter restored back to the file of AO for adequate verifications.

Section 57 Deduction Allowable for Interest Expense Incurred to Earn Income from Other Sources: ITAT Raipur

August 26, 2024 1164 Views 0 comment Print

ITAT Raipur held that interest expenditure incurred for earning income chargeable under the head “Income from other sources” is allowable as deduction under section 57 of the Income Tax Act.

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