ITAT, Pune, set aside CIT (Exemption)’s rejection of an educational trust’s applications for Section 12A registration and Section 80G approval.
The Income Tax Appellate Tribunal (ITAT) Pune has significantly reduced the tax addition against an advocate for unexplained cash deposits.
Tribunal rules that allegations based on generalized survey findings and third-party statements cannot sustain additions. Labour expenses and unsecured loans routed through banking channels were confirmed as genuine, with revenue appeals dismissed.
The ITAT Pune partly quashed a PCIT’s revision order against Sharada Erectors Pvt. Ltd. It ruled that the AO’s plausible view on most issues, supported by enquiry, cannot be set aside.
Tribunal ruled that unexplained cash deposits of ₹13.46 lakh by a mobile phone trader require fresh examination. ITAT emphasized natural justice and allowed the assessee to submit audited accounts and sales evidence.
The ITAT Pune ruled in the case of Nanasaheb Bhagawan Sasar vs. ITO that an assessee is entitled to a full Tax Deducted at Source (TDS) credit, even if the buyer mistakenly deducted the entire amount in the assessee’s name for a joint property sale.
ITAT Pune has sent the case of Shankar Saybu Rakhewar back to the Commissioner of Income Tax (Appeals) for a new hearing.
The ITAT Pune has ruled that co-operative societies can claim tax deductions under Section 80P for interest income from deposits with co-operative banks. The decision confirms a consistent judicial view, restoring the full deduction for the assessee.
Relying on Malabar Industrial, Max India, and Gabriel India precedents, ITAT ruled that when two views are possible, PCIT cannot assume jurisdiction. Original assessment for AY 2020-21 was restored.
The Income Tax Appellate Tribunal (ITAT) Pune dismissed an appeal by the Income Tax Department, affirming that a cooperative credit society was not liable for unexplained cash credits under Section 68.
