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....
The Raipur ITAT remanded the Omax Minerals tax case back to CIT(A) after finding that the company was denied a fair opportunity to be heard in a penalty proceeding. The ruling cites procedural irregularities.
The ITAT Ahmedabad ruled that the amendment to Section 80AC, requiring timely tax return filing for Chapter VIA deductions, is not applicable to Assessment Year 2017-18.
The Mumbai ITAT ruled that TDS credit cannot be denied if the amount is correctly reflected in Form 26AS, directing the tax authorities to allow the claim.
The ITAT dismisses a taxpayer’s claim for expenses against income disclosed during a survey but sets aside the application of a higher tax rate on the same income.
Pune ITAT deletes disallowance of cash-based remuneration to partners and salaries to employees, finding no legal bar or evidence of inflated expenses.
Mere involvement in a flagged scrip, in absence of concrete evidence of manipulation or unaccounted funds, could not justify taxing bonafide transactions. Therefore, the additions under sections 68 and 69C were unsustainable.
ITAT Surat sets aside an ex-parte order, mandating a fresh hearing for Anupam Syal on a ₹11 lakh tax addition. The ruling emphasizes natural justice and procedural fairness.
The ITAT Patna has set aside an income tax order, remanding the case of Waseem Alam back to the ITO. The tribunal granted the assessee a new opportunity to provide documents.
The ITAT Ahmedabad dismissed the tax department’s appeal, ruling that cash withdrawals of ₹8.89 crore were not unexplained. The tribunal upheld the assessee’s claim that the cash was used for business payments, as the tax officer had accepted the corresponding sales.
ITAT Mumbai remitted matter of taxability of industrial promotion subsidy back to CIT(A) for de novo meritorious adjudication as details and documents demanded thereon were not furnished by the assessee.
