Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
Income Tax : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT Nagpur held that a 50-year lease is not a transfer under Section 2(47)(vi) where the transaction is only a lease and not an a...
Income Tax : ITAT Ahmedabad allowed Section 10(10B) exemption on BSNL VRS compensation, following coordinate bench rulings despite no claim in ...
Income Tax : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
Mumbai ITAT permits deduction under Section 57(iii) for ₹30.90 lakh interest paid on housing loan deployed to earn interest income. The ruling confirms that loan purpose, not its label, determines eligibility.
ITAT Mumbai held that disallowance under Section 14A cannot exceed the exempt income, upholding judicial precedents and deleting Rs. 6.66 crore addition, emphasizing that hypothetical income cannot be taxed.
The Tribunal emphasized that for notices issued before 01.04.2021, the sanctioning power rested solely with the JCIT, making the PCIT’s approval invalid. Consequently, the ₹82.89 crore disallowance and all further proceedings were set aside.
Tribunal remanded the case after finding that documentary evidence submitted during assessment was not examined. The matter is sent back for fresh evaluation with an opportunity of hearing.
ITAT Ahmedabad held that donations linked to milk supply were compulsory and cannot be treated as corpus contributions under Section 11(1)(d). The trust’s claim for exemption was denied, though a statutory deduction of 15% on revenue was allowed.
Addition of Rs. 2.82 lakh for deemed rent was maintained due to lack of credible evidence from the assessee. Loan interest is to be reconsidered after proper document submission.
The Tribunal held that employer-provided business advances cannot be classified as income under Section 69A without proper verification, remanding the case for limited review of TDS and expense records.
The Tribunal held that the assessment was void because jurisdiction shifted between officers without a mandatory transfer order. It reaffirmed that proceedings without statutory jurisdiction are null and void.
Even though the assessee had opted for DTVSVA, the non-payment of tax meant the settlement did not materialize. The Tribunal restored the appeal to CIT(A) to examine all submitted evidence, ensuring a fair opportunity to contest additions.
ITAT Mumbai held that courses not having any approval or affiliation with any authority cannot be ground to hold that the purpose is not charitable. Accordingly, benefit of exemption under section 11 of the Income Tax Act granted since activity of imparting education within meaning of section 2(15).
