ITAT Nagpur remands Kiran Anil Gothi Vs ITO cash credit case back to CIT(A) for fresh adjudication after assessee failed to provide documentation at initial stages.
ITAT Nagpur condones a 607-day delay in Astavinayak Gramin Bigar Sheti’s appeal, ruling that an assessment order on a surrendered PAN constituted justifiable cause.
ITAT Nagpur condones delay in filing and remands income tax appeal by Amol Kolakar back to CIT(A) for fresh hearing on merits, citing principles of natural justice.
ITAT Nagpur granted a taxpayer a second chance, setting aside an ex-parte CIT(A) order due to non-appearance and remitting the case for fresh adjudication based on natural justice principles.
The ITAT Nagpur has condoned a 510-day delay in an income tax appeal, finding the assessee’s reasons, including email oversight, illiteracy, and communication gaps, to be genuine. The case is remitted for merits-based adjudication.
ITAT Nagpur held that co-operative society is eligible to claim deduction under section 80P of the Income Tax Act in respect of interest earned from credit facilities extended to nominal members. Accordingly, appeal of assessee allowed.
ITAT Nagpur held that addition under section 68 towards bogus LTCG set aside as sale transaction of shares cannot be doubted. Thus, sale consideration received on sale of shares cannot be assessed as unexplained cash credit under section 68 of the Income Tax Act.
ITAT Nagpur held that addition on account of LTCG in the hands of firm not justified as property is belonged to the partner in his individual capacity and didn’t belonged to the firm. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
ITAT Nagpur ruled that loose papers found with a third party cannot justify income addition without corroborative evidence, especially if statements are retracted.
ITAT Nagpur rules Prerana Samajik Sanskrutik Trust’s provisional registration was wrongly cancelled. Temporary loans, not lack of genuineness.
