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.
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.
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.
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.
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.
Summary of ITAT Raipur decision in Satish Agrawal vs. ITO. The case concerns denied exemption under Section 54F of the Income Tax Act for AY 2014-15.
ITAT Raipur order on Rajesh Kumar Tiwari vs ITO. ITAT sets aside Income Tax reassessment completed without providing fair & reasonable opportunity
Read the detailed ITAT Raipur order on rejection of S.12AB application under Income Tax Act, directing re-adjudication by CIT(E). Full analysis provided.
Detailed analysis of ABIS Export India Pvt Ltd Vs DCIT (ITAT Raipur) case regarding CSR expenses deduction under Sec. 80G. Explore the ITAT’s decision, implications, and legal insights.
ITAT upholds penalty against taxpayer for cash repayment of loans, contravening Section 269T of Income-tax Act. Explore implications and alternatives.
