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ITAT Pune

Form 10IE Directory Not Mandatory: ITAT Allows New Income Tax Regime benefit

July 18, 2024 2988 Views 0 comment Print

Read the full text of the ITAT Pune order in Akshay Devendra Birari Vs DCIT regarding the allowance of benefits under the new income tax regime. Learn about Form 10IE requirements and its impact on income tax assessments.

ITAT deletes addition of interest based on principle of presumption regarding interest-free funds

June 11, 2024 585 Views 0 comment Print

The case of Eknath Ramkrisnanrao Salve Vs. Income Tax Officer (ITAT Pune) revolves around three primary issues: the taxability of subsidy received, disallowance of interest on interest-free advances, and disallowance of agricultural income on an estimated basis.

CIT(A) Obliged to Address Merits Despite Ex-Parte Order: ITAT Pune

June 9, 2024 735 Views 0 comment Print

ITAT Pune rules that CIT(A) must address merits in appeals, not dismiss for non-prosecution. Key case: York Transport Equipment (India) Private Limited Vs ITO.

ITAT Upholds Cancellation of Registration for Trust Building Leasing Income

May 23, 2024 2346 Views 0 comment Print

ITAT Pune upheld the cancellation of Golden Charitable Trust’s registration, citing commercial activity from leasing property. Read the detailed analysis of the order.

CIT(E) should examine entire trust deed in totality vis-à-vis charitable activities: ITAT Pune

May 6, 2024 378 Views 0 comment Print

The tribunal emphasized that the CIT(E) should have evaluated the entire trust deed in conjunction with the actual charitable activities conducted by the trust to determine whether it solely served the Christian community or provided benefits to the broader community.

ITAT upholds disallowance for delayed Deposit of Employees’ PF & ESIC

March 27, 2024 636 Views 0 comment Print

Read the full text of the order of ITAT Pune regarding the disallowance of late deposit of Employees’ share of PF and ESIC by Kothari Wheels vs DCIT.

State Government Loans not attracts Section 43B(d) disallowance: ITAT Pune

March 22, 2024 393 Views 0 comment Print

In Tokai Sahakari Sakhar Karkhana Ltd vs ITO (ITAT Pune), ITAT rules that loan received from State Government is not subject to S.43B(d) of Income Tax Act, 1961. Full text analysis here.

Interest & Dividend from Investments between Co-op Societies Eligible for Section 80P(2)(D) Deduction

March 21, 2024 1251 Views 0 comment Print

In a case between Konkan Education Society Sevak Sahakari Patpedhi Ltd and ITO, ITAT Pune rules interest & dividend from cooperative investment deductible under Income Tax Act.

Absence of thorough verification of origin of cash funds: ITAT directs re-adjudication

March 21, 2024 507 Views 0 comment Print

Explore the case of Shantabai Jasraj Lodha challenging additions made by CIT(A) – NFAC regarding a Rs.20 lakhs deposit during demonetization. Analysis reveals discrepancies and remand for further verification.

ITAT Criticizes AO for Hasty 200% Penalty Imposition without application of Mind

March 19, 2024 687 Views 0 comment Print

Analysis of ITAT Pune’s criticism of the Assessing Officer’s hasty penalty imposition at a 200% rate without proper application of mind in the Adinath Vasantrao Wandhekar case

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