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.
ITAT Pune clarifies retrospective applicability of 12A registration and condones delayed Form 10B filing for charitable trusts, granting Section 11 exemption.
ITAT Pune remands Vardhaman Vasundhara Family Trust’s appeal to CIT(A), citing failure to adjudicate merits of brought forward capital loss set-off and violation of Section 250(6).
ITAT Pune addresses the retrospective application of Section 234E late fees and Section 200A intimations for TDS returns, citing key judicial precedents.
