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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...
Where Cooperative Society was engaged in the business of providing credit facilities to its members, they deposited excess amount for short term in banks, interest earned was entitled for deduction under Section 80P(2)(a)(i).
The Ld. AR requested that the matter may be remitted to the Ld. AO while the Ld. DR supported the order of the Ld. CIT(A). After considering the facts of the case, we deem it appropriate in the interest of justice and fair play that another opportunity needs to be provided to the assessee to represent her case properly before the Ld.
ITAT Delhi held that revisionary order passed under section 263 of the Income Tax Act is liable to be quashed as no disallowance under section 14A of the Income Tax Act is permissible if no exempt income is earned. Accordingly, appeal allowed.
Since no new material or facts had come to light and the AO had already applied his mind during the original assessment, the reassessment proceedings were invalid in law accordingly, Section 148 notice was quashed.
ITAT Delhi held that order of special audit held to be void ab-initio since due procedure as mandated under the provisions of Sec. 142(2A) and Sec. 142(2C) of the Income Tax Act has not been followed.
ITAT Bangalore held that initiation of revisionary proceedings under section 263 of the Income Tax Act by CIT based on the recommendation of the AO is not maintainable. Accordingly, revisionary order set aside and appeal allowed.
ITAT Jaipur held that disallowance of professional fees merely for the reason that notice under section 133(6) of the Income Tax Act remained unserved is not justifiable since assessee has placed various evidences on record. Accordingly, appeal is allowed.
Uttarakhand High Court held that Section 40(a)(ia) of the Income Tax Act, 1961 cannot be made applicable to short deduction of tax at source and the disallowance made was rightly directed to be deleted. Accordingly, writ of revenue dismissed.
ITAT Panaji held that ad-hoc determination of taxable income without invoking special audit u/s. 142(2A) of the Income Tax Act not only jostled ad-hoc & irrational estimations but led to farfetched determination due to complexity of business. Accordingly, matter remanded back to AO.
ITAT Raipur held that passing of CIT(A) order was ex-parte without hearing the assessee and there is sufficient cause shown by assessee in not attending hearings as per opportunities granted by CIT(A). Accordingly, matter remanded back to CIT(A).
