ITAT Nagpur deletes additions under Section 68 due to lack of cross-examination and sufficient documentary evidence provided by the assessee in loan and LTCG cases.
Gospel India Ministries Gutkula Vs CIT (ITAT Nagpur) ITAT Nagpur held that rejection of application in Form 10AB for grant of registration u/s. 12AB of the Income Tax Act on the ground of quoting of wrong provision not justifiable since quoting wrong provision cannot be held to be fatal to militate against well-deserved beneficial provision. […]
ITAT Nagpur rules Deendayal Seva Pratishthan eligible for tax exemption; late verification of Form 10B due to technical issues not fatal.
The assessee is engaged in the business of running a Ginning Mill and dealing in cotton. A search and seizure action u/s. 132(1) of the Income Tax Act, 1961 was conducted on the assessee on 12/02/2015.
ITAT Nagpur held that addition towards unexplained expenditure u/s. 69C of the Income Tax Act not warranted since the same are already covered in declaration of income hence no separate additions warranted.
ITAT Nagpur sets aside CIT(E)’s rejection of 12A registration, holding assessee not liable for file access issues on ITBA portal.
ITAT Nagpur remands Jeewak Welfare Society’s 80G registration rejection, citing insufficient details. Orders CIT(E) to re-evaluate case.
There are absolutely no credible and reliable evidences to establish that entire loans in cash were from the undisclosed funds whereas loan in cheques were accepted to be that of person other assessee and his role as a conduit or a mere intermediary was established.
ITAT reinstates 80G approval for Tiger Research and Conservation Trust, highlighting its compliance with fund utilization and its vital role in tiger conservation.
ITAT Nagpur held that addition made on the basis of dumb documents, loose paper containing scribbling, rough/vague noting’s in the absence of any corroborative material is not tenable in law. Thus, appeal of revenue dismissed.
