The ITAT Surat has ruled that Section 11 & 12 exemptions cannot be denied solely due to a trust’s delayed registration, remitting Koteshwar Mahadev Public Trust’s case for fresh assessment.
ITAT Surat rules Bardoli Vibhag Gram Vikas Co-op Credit Society’s interest from co-operative banks is eligible for Section 80P(2)(d) deduction, overturning PCIT.
ITAT Surat partially upholds cash addition for Arjunsinh Thakor but reduces taxable amount and applies pre-amendment tax rates under Section 115BBE.
ITAT Surat allows Section 11 exemption for Premprakash Ashram Trust, deeming belated Form 10B filing procedural, not mandatory.
ITAT Surat rules cash in real estate business isn’t automatically unexplained for demonetization deposits. Reduces ₹7.54L addition, cites Supreme Court on cash balances.
ITAT Surat deleted a Section 271(1)(c) penalty against Gunjan Agarwal, ruling that an addition based on estimated income does not automatically imply concealment or furnishing inaccurate particulars.
The ITAT Surat deleted a Section 271-I penalty against Gopal Chandak for non-filing of Form 15CA on non-taxable remittances, citing that rules were notified late.
ITAT Surat rules Section 11 exemption for trusts cannot be denied solely for late Form 10B filing if submitted before the 143(1) order, citing multiple judicial precedents.
The ITAT Surat directs the AO to verify Kuberji Developers’ claim that rent was double-taxed across assessment years 2016-17 and 2017-18, allowing adjustment if proven.
ITAT Surat affirms penalty on Pristine Jewellery for non-compliance with tax audit requirements, rejecting claims of reasonable cause and distinguishing previous judgments.
