In the Archana Rajendra Malu vs. ITO case, ITAT Pune upheld the denial of tax exemption under Section 10(38) of the Income Tax Act due to sham transactions with paper companies.
ITAT Pune rules that assessment under limited scrutiny cannot exceed its prescribed scope, preventing the use of revisionary jurisdiction under section 263 of the Income Tax Act.
Explore the case of Sanjay Kothari vs. ACIT and learn about importance of admissions in search or survey cases. Understand implications of an assessment order lacking DIN and Order number.
ITAT Pune held that as the case was selected for limited scrutiny and the same was not converted into complete scrutiny, the scope of verification of AO cannot be extended to other issues/matter. Accordingly, appeal allowed.
In a recent case, ITAT Pune grants 12AA registration to Kanojiya Pardeshi Dhobi Trust, allowing its charitable activities during COVID-19. Full order analysis.
ITAT Pune held that in view of huge quantitative differences, Comparable Uncontrolled Price (CUP) method cannot be applied. Hence, Transactional Net Margin Method (TNMM) is applicable in respect of international transaction of ‘Sale of Finished Goods’.
ITAT Pune held that invocation of revisionary jurisdiction u/s. 263 of the Income Tax Act unjustified when AO examined the claim and took one of the plausible views and hence the assessment order cannot be termed as an “erroneous”.
ITAT Pune held that the excess income declared during the course of survey proceedings cannot be treated as unexplained income, but, the same is treated as business income.
ITAT Pune re-adjudicates Vishranti Gruh Trust’s cancelled 12AB registration due to failure in furnishing genuineness of activities. Learn more about the decision.
Explore the landmark ruling of Vijay Shriram Gundale Vs ACIT by ITAT Pune. Learn how excess stock income is categorized as business income, exempt from Section 69B of the Income Tax Act.
