Assessee-trust registered under Sections 12A and 80G had filed its return of income for Assessment Year (AY) 2017-18 declaring nil income. The return was processed under Section 143(1), and the case was selected for scrutiny under CASS.
ITAT Pune allows a petrol pump owner’s appeal for statistical purposes, citing consultant’s lapse in communication and directing re-examination with fair opportunity due to best judgment assessment.
ITAT Pune rules unregistered trusts are taxed only on net income, not gross, even with ITR filing errors, emphasizing substantive justice.
ITAT Pune remands case regarding set-off of brought-forward business losses against deemed short-term capital gains from depreciable assets, citing judicial precedents and scope of Section 143(1).
Pune ITAT deletes penalties under Sections 271(1)(c) and 270A for Sunil Chunilal Kumavat, citing non-specification of charges and reliance on Mohd. Farhan A. Shaikh.
Pune ITAT deletes Section 270A penalty on Advik Hi-Tech Pvt. Ltd., ruling non-disclosure of adjusted IT refund interest was an inadvertent error, not under-reporting.
Pune ITAT removes Rs. 22 lakh addition on G. N. Adgaonkar Jewels for cash purchases, citing flawed AO verification and consistent business practice. Delay also condoned.
ITAT Pune held that adjustment under section 11(3) of the Income Tax Act as deemed income cannot be sustained as accumulated surplus funds are utilized within stipulated time period and the amendment to the provisions of section 11(3) are held to be prospective in nature.
ITAT Pune quashes assessment where AO shifted grounds without fresh notice u/s 148. Reinforces need for proper procedure in reassessments.
ITAT Pune invalidated 153C assessments in the Yuvraj Dhamale group case, citing jurisdictional errors due to Settlement Commission involvement, consolidated satisfaction notes, and mechanical Section 153D approvals.
