The Income Tax Appellate Tribunal quashed a tax demand on a police cooperative society, ruling that the reassessment proceedings were invalid.
ITAT Pune held that dismissal of appeal by CIT(A) on account of non-prosecution without deciding the appeal of merit is not justifiable. Accordingly, order of CIT(A) is set-aside to CIT(A) for denovo adjudication.
ITAT Pune held that extrapolation cannot be made on account of receipt of on-money for sale of shops in respect of which no evidence was found during the course of search. Accordingly, appeal partly allowed.
ITAT Pune held that addition towards unexplained cash deposits partly allowed considering the nature of business. However, since full details were not furnished, part addition towards unexplained cash deposits was upheld. Accordingly, appeal partly allowed.
ITAT Pune held that interest income on enhanced compensation is contingent and hence not taxable under section 56(2)(viii) of the Income Tax Act. Accordingly, appeal of assessee allowed and order set aside.
ITAT Pune rules cooperative societies can claim S.80P deduction via ITR filed under S.142(1), setting aside denial over delayed e-verification.
ITAT Pune remands 80G approval case, stating incorrect section code is not fatal. Directs CIT(E) to allow rectification and hear the application on merits.
ITAT Pune held that satisfaction note is required to be recorded u/s 153C for each assessment year and a consolidated satisfaction note recorded for different assessment years would vitiate the entire assessment proceedings. Accordingly, appeal of revenue dismissed.
ITAT Pune overturns 80G rejection for Mitcon Forum, ruling that commencement of activities timeline applies to new trusts, not existing ones seeking provisional approval.
ITAT Pune clarifies the interpretation of earlier in Section 80G(5)(iii) for trusts seeking regular approval, allowing applications six months before provisional approval expiry.
