Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
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Income Tax : Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(...
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Income Tax : We have attached a file in excel format. The file contains the format of various details which normally assessing officer asks As...
Income Tax : ITAT Bangalore held that additions made in an intimation under Section 143(1) cannot be disputed in an appeal against a scrutiny a...
Income Tax : ITAT Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was de...
Income Tax : ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and ear...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : ITAT Surat held that delayed filing of Form 10B is a procedural lapse and remanded the matter after directing the AO to consider t...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
The Tribunal ruled that since the assessment was legally correct when passed, invoking Section 154 after a later Supreme Court decision was impermissible. The addition was consequently deleted.
The Tribunal held that alleged on-money addition based solely on third-party loose papers is unsustainable. In absence of independent evidence linking the assessee to unaccounted payment, the addition was deleted.
The Tribunal upheld deletion of ₹3.67 crore added as unexplained cash credit from Singapore art exhibition sales. It held that detailed export, remittance, and bank evidence fully established the genuineness and source of funds.
The Tribunal deleted ₹20,00,055 added as unexplained income after finding the transaction was based on mistaken identity. No evidence proved that the assessee received funds from the alleged shell company.
The Tribunal clarified that passing an order in the name of a non-existent entity is not a mere procedural defect. It held that participation in proceedings does not validate a void assessment.
ITAT ruled that without rejecting books of account or disproving sales, addition of aggregate cash deposits is unsustainable. Detailed reconciliations established nexus with business receipts.
Recognizing the 10% tolerance band as a beneficial amendment, the Tribunal applied it retrospectively. The ruling clarifies that minor valuation gaps cannot lead to artificial income additions.
ITAT upheld deletion of additions where assessment was framed under the wrong provision. Since the year fell within the block period of a non-searched person, Section 153C was mandatory.
ITAT ruled that reassessment made pursuant to a quashed Section 263 order has no legal basis. Subsequent additions cannot stand once the revision itself is annulled.
With the Section 50C addition and 54F disallowance deleted, the Tribunal held that the penalty under Section 271(1)(c) could not survive. It emphasized that penalty cannot stand when the underlying additions are removed.
