ITAT Surat condones a 162-day delay in appeal filing by a 77-year-old farmer, citing lack of legal guidance, and directs a fresh assessment by the AO.
ITAT Surat remands case to CIT(A) for fresh adjudication on HUF gift taxability under Section 56(2)(vii) of the Income Tax Act, citing judicial precedents.
ITAT Surat remands penalty case under Section 271B to AO, ruling that bank transactions alone cannot determine turnover. Fresh consideration ordered.
ITAT Surat rules that for capital gains tax on agricultural land, municipal limits are determined by notification in force at the time of sale, not subsequent changes.
Learn how the PCIT correctly invoked Section 263 of the Income Tax Act due to the AO’s misapplication of law in taxing Stamp Duty Valuation and Unexplained Investment. Explore detailed analysis of Section 56(2)(x), Section 69, and key judicial precedents.
Aggrieved by the order passed by AO, assessee moved on with an appeal to CIT(A), where assessee challenged the reopening of the assessment, arguing that Section 148 was not justified.
ITAT Surat ruled on the classification of land as a capital asset under Section 2(14) for AY 2012-13. Decision centered on distance measurement standards and LTCG.
ITAT Surat quashes CIT(A) order for not considering assessee’s submissions, directing the AO to reassess the case with due opportunity for the assessee.
ITAT Surat rules against PCIT’s revision under Section 263, stating the Assessing Officer’s view on Unique Polypack transactions was legally sustainable.
Assessee didnot file ITR for AY 2012-13 during which assessee made cash deposit of Rs.45,69,722/-. The case was reopened and notice u/s 148 was sent through e-mail against which no ITR was filed. Hence, AO made addition u/s 69A.
