The Tribunal held that interest earned from investments with a co-operative bank registered as a co-operative society qualifies for deduction under Section 80P(2)(d), following jurisdictional High Court rulings.
The Tribunal held that dismissal of an appeal without effective hearing violated principles of natural justice. The matter was remanded for fresh adjudication with directions to grant adequate opportunity.
The Tribunal upheld revision where the Assessing Officer failed to examine an exempt LTCG claim linked to penny stock manipulation. The ruling affirms that lack of inquiry makes an order erroneous and prejudicial.
The Tribunal set aside cancellation of charitable registration after finding lack of proper opportunity and consideration of submissions. Fresh adjudication was directed in line with natural justice.
The issue was whether certain objects benefiting members disqualified charitable registration. The Tribunal ruled that dominant charitable objects like education and aid to poor students justified granting registration.
The Tribunal upheld deduction under Section 80P(2)(d) where interest income was earned from deposits with a co-operative bank. It held that a co-operative bank remains a co-operative society for this purpose.
The Tribunal remanded the case after finding that reassessment and appellate orders were passed ex parte without examining key issues on transfer, valuation, and cost, directing a fresh assessment with opportunity of hearing.
The Tribunal held that agricultural income cannot be disallowed merely due to a year-on-year increase. Since land ownership, crop details, and receipts were undisputed, the addition was deleted.
ITAT Surat allowed a company to avail concessional tax rates under Section 115BAA despite a minor delay in filing Form 10-IC due to portal issues, emphasizing a practical approach.
ITAT set aside dismissal due to delay, restoring appeal to ensure proper examination of disputed additions. Appellate authority must provide speaking orders considering all submissions.
