ITAT Pune ruled on multiple appeals in Bharati Vidyapeeths case, addressing issues on exemptions under Sections 11, 13, 10(23C), and validity of Section 153C notices.
The Tribunal held that the assessee’s claim under Section 11 required fresh examination since delay in filing Form 10B had already been condoned by the competent authority after assessment proceedings.
AO without going through the terms and conditions of each of the project that had been undertaken by assessee during the year had come to the conclusion that assessee was a works contractor and not a developer.
The disallowance occurred due to an incorrect entry in the ITR, and the matter should be reassessed, taking into account the correct disclosure of the loss.
ITAT Pune invalidates unsigned NFAC order, remanding case for re-adjudication under Section 250 of the Income Tax Act, 1961. Case to be heard afresh.
Hon’ble ITAT Pune rules that penalties under Section 271(1)(c) should not be imposed for genuine mistakes or debatable claims in tax assessments.
The Revenue’s action in mulcting the penalty by asking the assessee to prove the reasonable cause [COVID- 19] with documentary evidence capable of suggesting non-application of mind by the tax authorities.
Aggrieved, the assessee challenged the matter in appeal before the Ld. CIT(A). However, the same was dismissed. Being aggrieved, the present appeal is filed.
ITAT Pune ruling on Sheetal Collection clarifies no written retraction is needed for statements under Section 133A of the Income-tax Act.
Assessee had claimed a tax exemption under Section 10(23C)(vi) which allowed tax exemptions for educational institutions provided certain conditions prescribed by the Chief Commissioner of Income Tax (CCIT) were met.
