The Tribunal ruled that even temporary withdrawals by a shareholder can trigger deemed dividend under Section 2(22)(e). It held that duration or repayment does not negate taxability.
The Tribunal invalidated reassessment proceedings since the Section 148 notice was issued after 01.04.2021, making it time-barred. The ruling reinforces strict limitation compliance for reopening cases.
The Tribunal held that addition of entire cash deposits without proper verification was not justified. The matter was remanded for fresh examination with an opportunity to substantiate business transactions.
The issue was whether compensation under BSNL VRS is taxable or fully exempt. The Tribunal held that the scheme effectively amounts to retrenchment, making the compensation exempt under Section 10(10B).
ITAT Pune held that reopening of assessment under section 148 of the Income Tax Act based on audit objection is merely change of opinion and the same is impermissible in law. Accordingly, notice issued u/s. 148 is not valid and is liable to be quashed.
The Tribunal held that compensation under the BSNL VRS-2019 scheme qualifies as retrenchment compensation under Section 10(10B). It ruled that the entire amount is a capital receipt and fully exempt from tax.
ITAT held that CSR contributions can qualify for deduction under Section 80G if conditions are met. The ruling clarifies that there is no blanket prohibition on such claims under the law.
The issue was whether CSR expenditure qualifies for deduction under section 80G. The Tribunal held that deduction is allowable as there is no specific prohibition except for certain funds.
The issue was whether a single satisfaction note for multiple years is valid under Section 153C. ITAT Pune held it invalid, ruling that separate satisfaction per year is mandatory, thereby quashing the entire assessment.
The Tribunal ruled that interest earned from mandatory bank deposits by a co-operative credit society qualifies as business income and is eligible for deduction under Section 80P.
