ITAT Rajkot’s ruling in Milind Pankajbhai Shroff vs. PCIT confirms the Principal Commissioner’s authority under Section 263 to revise an assessment where the AO failed to inquire into a ₹30 Lakh deduction claimed for bogus political donations,
Rajkot Bench of ITAT granted relief to a farmer by deleting an addition for unexplained investment, holding that land purchase was funded by compensation from Reliance Infrastructure.
The ITAT Rajkot restored the case of Jay Mataji Charitable Trust vs. CIT (Exemption) to the CIT(E) to determine if the trust’s religious expenditures were within the 5% limit allowed under Section 80G(5B).
The ITAT Rajkot condoned a 518-day delay for Arham Enterprise, setting aside an ex parte CIT(A) order. The tribunal’s decision prioritizes a case’s merits over technicalities.
The ITAT Rajkot set aside a CIT(A) order against Prataprai Ranpariya, ruling that the ex-parte dismissal violated principles of natural justice. The Tribunal remanded the matter for a fresh hearing, imposing a Rs.2,000 cost on the assessee for non-compliance.
The ITAT Rajkot has deleted a disallowance under Section 40A(3), ruling that the provision applies to individual payments against a single bill, not the aggregate of multiple payments below Rs. 20,000 each.
The ITAT in Rajkot reduced a penalty against a taxpayer from ₹30,000 to ₹10,000, ruling that a single penalty should be levied for multiple non-compliances that occurred during the same proceedings.
ITAT Rajkot held that appellate authorities have power to entertain fresh claim and accordingly, claim of erroneously addition to computation of income accepted and direction given to AO to determine taxable income of assessee afresh.
ITAT Rajkot held that imposition of penalty u/s. 271B of the Income Tax Act for not getting books of accounts audited cannot be sustained since assessee has filed return u/s. 44AD and there is no need to maintain books of accounts u/s. 44AD.
Discover why Rajkot’s ITAT granted 80G approval to Kabir Kirti Mandir Kashi, ruling that a trust’s religious objects don’t override its charitable purpose.
