#Section 153A
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1,339 articlesIncome Tax
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Penalty U/s 271(1)(c) Deleted – MAT Liability U/s 115JB Higher Than Normal Tax – No Tax Sought to be Evaded – ITAT Mumbai
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No Sec 153A Addition Without Incriminating Material; Penny Stock LTCG Deleted: ITAT Mumbai
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Search Assessment – Suppressed Sales Deleted, Sec 37(1) Expenses Allowed & CWIP Write-Off Treated as Revenue – 143(3) Order Quashed – ITAT Mumbai
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Section 153A Addition Without Incriminating Material Deleted; Net Interest Only Taxable; U/s 69A/69C Rejected – ITAT Mumbai
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No Transfer U/s 2(47) – Temporary Alternate Flat Not Taxable – ITAT Mumbai
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Reassessment After 31-03-2024 Time-Barred; First Proviso to Sec. 149(1) Prevails Over 148A – Proceedings Quashed by ITAT Bangalore
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Reassessment Quashed as Year of Search Cannot Be Reopened Under Section 148
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Additions Based on Third-Party Ledger Deleted – Identity Not Proved & No Independent Enquiry – Revenue Appeal Dismissed; Reopening Upheld – ITAT Ahmedabad
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ITAT Rajkot Deletes Search Additions Penalty – Agricultural Income Accepted, Diary Receivables Assessed on Peak Basis, Sec 271AAA Penalty Quashed
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ITAT Delhi Quashes Section 153C Proceedings for Consolidated Satisfaction & Mechanical Approval
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ITAT Mumbai – Additions U/s 68 & 69D in Search Case Deleted; No Incriminating Material for Unabated Years & Mere Statements Insufficient
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Additions Based on Loose Sheets Deleted – “Dumb Documents” Insufficient for 153A: ITAT Delhi
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Flat Purchase Addition Deleted – Creditor Loan Proved; Wife’s Contribution Not Taxable: ITAT Mumbai
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