ITAT Chandigarh deletes a Rs.59.50 lakh addition, ruling that a school with receipts under Rs.1 crore is fully exempt under Section 10(23C)(iiiad), making Section 11(5) restrictions inapplicable.
ITAT Chandigarh rules for Aarti Singal, deleting additions u/s 68 & 69C. LTCG from listed shares held genuine & not bogus accommodation entries, as Revenue failed to provide specific proof.
Tribunal deletes all additions against Lakhvir Kaur, finding no incriminating material. The ruling concerned foreign travel, vehicle expenses, and jewellery for A.Y. 2020-21, along with a poultry farm on-money addition for A.Y. 2021-22.
The ITAT Chandigarh ruled in favor of an assessee, deleting an addition of ₹8.70 lakh. The tribunal found loans from close relatives and sons were genuine, with donors having sufficient income.
A charitable trust cannot be denied Section 80G approval solely for having religious objects. The ITAT ruled that actual expenditure is the key factor.
The ITAT Chandigarh has quashed an assessment based on a WhatsApp chat, citing lack of mandatory approval and insufficient evidence. The tribunal upheld the deletion of a Rs. 1.12 crore addition for unexplained investment, emphasizing that digital communication alone requires corroboration.
Delhi ITAT cancels PCIT’s revision u/s 263 against faceless assessment, ruling it cannot be used for fishing enquiries. Order restores NFAC’s original assessment.
ITAT Delhi upheld reassessment u/s 147 for cash deposits during demonetisation. Demon deposits issue remanded to AO; GP on non-demon deposits reduced from 8% to 4%.
ITAT Mumbai has remanded a case back to AO, ruling that CIT(A) erred in accepting a 5% profit margin without supporting evidence or comparable cases.
Kolkata ITAT ruled that a late-filed audit report is a procedural lapse, not a reason to deny an educational society’s tax exemption under Section 10(23C).
