The Tribunal condoned a 60-day delay after accepting explanations relating to migration of the ITAT portal and the death of a family member. The registration dispute was thereafter heard on merits.
The Nagpur ITAT held that exemption under Section 54B requires evidence of active agricultural operations and not merely agricultural classification in revenue records. The assessee’s failure to produce supporting evidence led to denial of exemption.
ITAT Nagpur held that nominal donations received in small amounts could not be treated as non-voluntary contributions merely because PAN or full address details of donors were unavailable. The Tribunal found no adverse evidence questioning the genuineness of donations or activities.
DCIT Vs Shikha Indrakumar Agrawal (ITAT Nagpur) The Nagpur Bench of the Income Tax Appellate Tribunal dismissed the Revenue’s appeal and upheld deletion of additions made under Sections 68 and 69C in respect of long-term capital gains claimed as exempt under Section 10(38) on sale of listed shares. The assessee had purchased 24,000 shares of […]
The issue involved estimation of income based solely on bank credits without supporting verification. The Tribunal remanded the case, directing assessment based on GST and VAT turnover.
The Tribunal held that industrial tariff charged by electricity boards is the correct benchmark for CPP transactions. It rejected the use of generator procurement rates adopted by the TPO.
A three-day delay in filing an appeal was rejected by CIT(A), but the tribunal held that minor delays should not defeat justice. The matter was remanded for decision on merits.
The Tribunal held that advances received under an uncompleted sale agreement are not taxable. Income arises only when transfer or forfeiture occurs.
The Tribunal held that purchases cannot be treated as bogus when supported by invoices, bank payments, and GST records. It ruled that absence of adverse evidence makes such additions unsustainable.
ACIT Vs Bharat Rail Automations Pvt. Ltd. (ITAT Nagpur) The appeal before the Income Tax Appellate Tribunal (ITAT), Nagpur, arose from an order passed by the Commissioner of Income Tax (Appeals) allowing deduction under Section 80IA(4) of the Income Tax Act, 1961 to the assessee for Assessment Year 2015–16. The assessee, engaged in design, development, […]
