The Tribunal found the tax addition in the Dulu Mahato case unsustainable. The AO failed to refer the property renovation valuation to the DVO and ignored evidence of joint investment by all co-owners.
The Tribunal set aside the CIT(A)’s ex-parte dismissal, directing the AO to readjudicate the matter afresh. The assessee must fully cooperate and pay a cost for the earlier failure to produce documents.
ITAT Ranchi quashes PCIT’s Section 263 order against a Co-operative Society (Chotanagpur Catholic Mission). Rules 80P deduction cannot be denied after AO’s thorough verification.
The Income Tax Appellate Tribunal (ITAT), Ranchi, partly allowed Pato Builders’ appeal for AY 2012-13. The tribunal confirmed the addition of share application money for nine investors for whom no details were provided, but reduced the estimated disallowance on other expenses.
The ITAT Ranchi has remanded the case of Pravin Engineering Pvt. Ltd. back to the Assessing Officer. The company’s claim that a ₹11.36 lakh directors’ commission was incorrectly reported as a dividend was not considered by the lower authorities.
ITAT Ranchi deleted a ₹10.42 lakh addition on cash deposits during demonetization, holding they were explained from prior bank withdrawals.
In ACIT vs. Hallmark Suppliers Pvt. Ltd., the ITAT Ranchi upheld the deletion of a Rs. 6 crore income addition, ruling that the director’s statement alone, without corroborative evidence, could not be the basis for assessment.
The Income Tax Appellate Tribunal (ITAT) Ranchi, partially allowed the appeal of Shiv Prasad Ram a retired SAIL employee restoring his ex parte tax assessment case to the Assessing Officer for readjudication and giving him an opportunity to be heard.
ITAT Ranchi rules that an entire purchase cannot be disallowed as bogus without rejecting the books of account; only the profit element is taxable on disputed purchases.
An ITAT ruling on Aviraldhaani Foundation shows that a trust can be denied charitable registration for having a vague ‘any other activity’ clause, but natural justice must prevail.
