ITAT Mumbai restored the matter of addition under section 68 towards agricultural income since all facts and records for sales are not brought on record. ITAT directed assessee to demonstrate that sales made to parties are genuine.
ITAT Mumbai rules that penalty cannot be maintained after assessment order is quashed, restoring a case to CIT(A) for fresh hearing.
ITAT Mumbai ruled on the reopening of Canbara Infra Pvt Ltd’s tax assessment, addressing loans from directors and Section 68 additions.
In the matter abovementioned ITAT upheld the jurisdiction u/s 263 exercised by PCIT, is right as twin condition of section 263 are fulfilled.
ITAT Mumbai sets aside CIT(E)’s rejection of a trust’s 12A and 80G registration applications due to incomplete documents, restoring the case for reconsideration.
Tribunal ruled that the deduction was valid under Section 43B, as the payments were made in the relevant assessment year after the disputes were settled through the amnesty schemes.
In the matter abovementioned ITAT allowed appeal of the assessee by holding that assessee is eligible for claim of deduction u/s.80P(2)(a)(i) that all its income is from members.
In the matter abovementioned ITAT has remanded the matter to AO after observing that revenue has accepted the assessee’s contention in earlier and subsequent years.
ITAT Mumbai held that issue of approval under section 80G of the Income Tax Act is liable to be restored back to CIT(E) since fresh application in Form 10AB is already pending for adjudication.
TAT Mumbai held that the addition of Rs. 3.05 crore u/s 69A of the Income Tax Act was based on suspicion, ruling it as impermissible without proper inquiry.
