Income Tax : ITAT held that where sales are not disputed, entire purchases cannot be disallowed. Only 15% profit element was taxed, reinforcing...
Income Tax : The Tribunal quashed reassessment proceedings as they were based on a mere change of opinion without any fresh tangible material. ...
Income Tax : The issue involved levy of late fees on TDS returns processed before statutory amendment. The Tribunal held that absence of enabli...
Income Tax : The Tribunal held that valuation without giving the assessee an opportunity to object violates natural justice. It remanded the ma...
Income Tax : The Tribunal condoned delay due to reasonable cause and addressed valuation mismatch. It remanded the issue for DVO-based reassess...
ITAT held that reassessment proceedings are invalid where the Assessing Officer failed to grant the minimum seven days’ time under section 148A(b), making the entire process unsustainable.
The issue was whether an outstanding loan could be taxed as deemed dividend in a year when no loan was received. The Tribunal held that the decisive factor is the year of payment and remanded the matter for fresh examination.
The issue was whether failure to deposit unutilised capital gains in CGAS before the due date defeats Section 54B relief. The ITAT held that where eligible agricultural land is purchased within time and cheques are issued with sufficient balance, CGAS non-deposit is only procedural. Full exemption was therefore allowed.
The key question was whether STR-based information can trigger harsh taxation under Section 115BBE. The ITAT held that without concrete evidence of non-genuine transactions, such additions cannot stand. Both reopening and tax addition were annulled.
The issue was denial of charitable exemption due to alleged non-filing of Form 10B. The ITAT held that the audit report was filed on time and wrongly ignored by CPC. Substantive exemption under Section 11 was therefore restored.
Though earlier dismissed for non-prosecution, the Tribunal evaluated the substantive grounds relating to bonus disallowance and income inclusion, granting partial relief.
The ITAT ruled that an addition under section 68 cannot be sustained solely on a retracted statement of a third party, deleting ₹81 lakh share capital added to income.
Delhi appellate authority’s ex-parte confirmation of unexplained money under Section 69A was set aside. ITAT directed CIT(A)/NFAC to adjudicate afresh, granting one final hearing opportunity.
ITAT Pune sent back the issue of alleged bogus purchases for A.Y. 2017-18, directing AO to examine GST closure letters, transportation evidence, and other supporting documents to determine genuineness.
The tribunal condoned a 458-day delay after an appeal order was sent to the wrong counsel. The case was remanded for fresh hearing to ensure the assessee’s full opportunity to present evidence in a demonetisation cash-deposit matter.
