Income Tax : The Tribunal held that taxing total gross winnings without examining expenditure and loss components violates principles of fairne...
Income Tax : The Tribunal held that additions under Section 69 cannot be sustained when based solely on third-party statements and unverified e...
Income Tax : ITAT held that a portion of cash paid could reasonably be sourced from accumulated withdrawals from joint bank accounts. The remai...
Income Tax : The Tribunal held that assumption of jurisdiction under Section 153C was invalid due to a defective and consolidated satisfaction ...
Income Tax : The Tribunal held that reassessment proceedings fail when the Assessing Officer abandons the issue forming the basis of reopening....
Since the Form 10B was filed along with the return of income and within the due date of filing the return of income, the delay in filing the Form 10B could not be a ground for denial of the exemptions under Sections 11 and 12.
ITAT Delhi held that trade scheme payment to sales promoters whether pure reimbursement or not needs proper verification and since AO granted relief without proper verification and application of mind, PCIT rightly invoked revisionary proceedings u/s. 263.
The ITAT Ahmedabad deleted a Rs.1.02 crore addition made under Section 68, rejecting the AO’s claim that a loan was an accommodation entry. The Tribunal ruled the loan was a genuine business transaction, used specifically for repaying an existing business loan, establishing the required nexus and purpose.
The High Court set aside the ex-parte assessment and appeal order, granting the partnership firm another opportunity to respond to the Section 148 notice. The ruling accepts the taxpayer’s non-response as due to bona fide, unavoidable circumstances.
The Kolkata ITAT deleted a Rs.31 crore unexplained cash credit addition under Section 68 on the sale of shares, ruling the AO mechanically relied on an investigation report without fresh evidence. The tribunal held that investments accepted by the Department in previous years and confirmed via an NCLT merger cannot be summarily taxed upon sale.
ITAT Delhi deleted a ₹45.69 lakh disallowance made by CPC under Section 43B for unpaid GST/Service Tax. Tribunal held disallowance was invalid because assessee had not claimed taxes as an expenditure in Profit and Loss Account.
ITAT ruled that a resident individual, opting for new tax regime with income below ₹7 lakhs, is eligible for full S 87A rebate, even if their income includes STCG under S 111A3 Court held that no statutory bar existed for Assessment Year 2024-25, invalidating system-driven denial by CPC.
The ITAT Rajkot significantly reduced an addition made under Section 69, ruling that in cases of alleged “on-money” payments found during a search, only the embedded profit component is taxable. Following the Gujarat High Court precedent, the Tribunal restricted the unexplained investment addition of Rs.1.25 lakh to just 30% (Rs.37,500).
The ITAT Panaji sent the disallowance of agricultural income back to the AO for fresh review, finding that the lower authorities ignored substantial documents and confirmations provided by the assessee. The ruling confirms that tax authorities must properly verify factual material and grant a fair hearing before disbelieving a farm income claim.
ITAT Bangalore held that delay in filing of appeal due to non-registration on Income Tax portal and non-receipt of notices are plausible and sufficient cause show. Accordingly, delay condoned and appeal restored back for fresh consideration.
