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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...
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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 ITAT held that reassessment under Sections 147/148 is invalid if based solely on investigation reports, emphasizing the need for independent AO satisfaction.
The issue was whether a single, consolidated approval under section 153D for multiple assessees is legally valid. The ITAT held that such mechanical approval shows no application of mind and vitiates the entire search assessment.
The issue was whether unexplained deposits of ₹94.89 lakh could be sustained when evidence was not produced due to a serious family medical crisis. The ITAT held that genuine hardship warranted a fresh opportunity and remanded the matter for proper verification.
The Revenue made additions on alleged penny-stock transactions under section 68. The ITAT held that once section 153C jurisdiction itself fails, the additions automatically fall without examination on merits.
The issue was whether alleged negative stock justified profit estimation. The Tribunal held that value-based assumptions using average GP could not override item-wise quantitative stock records maintained on a daily basis.
The Tribunal ruled that a trust reporting a loss cannot be taxed on gross receipts. The addition by the AO was deleted, emphasizing that only net income is relevant for taxation under section 11.
The issue was whether satellite transmission fees constitute royalty in India. The Tribunal held that Article 12 of the DTAA governs and the receipts are not royalty. Domestic law amendments cannot override the treaty.
The issue was whether a hydro power subsidy should reduce the cost of assets. The Tribunal held the subsidy was for project encouragement, not asset cost. Depreciation withdrawal was therefore unsustainable.
The Revenue invoked section 115BBE based on cash found during proceedings. However, the Tribunal found the foundational approval under section 153D defective. The entire assessment was therefore quashed.
The dispute involved confirmation of unexplained cash deposits without granting a requested VC hearing. The Tribunal held that denial of virtual hearing violated natural justice. The matter was remanded for fresh adjudication.
