Mumbai ITAT has restored a bogus purchases case to the Assessing Officer for a fresh hearing, ruling that CIT(A) erred by partially restricting the addition without giving the assessee a full opportunity to present evidence.
The ITAT Pune has ruled that co-operative societies can claim tax deductions under Section 80P for interest income from deposits with co-operative banks. The decision confirms a consistent judicial view, restoring the full deduction for the assessee.
The ITAT Delhi ruled in Dalmia Bharat vs. DCIT that a company’s gain from canceling a forward contract for machinery imports is a capital receipt, not taxable as business income.
The ITAT Chennai ruled that an Indian employee’s salary for services rendered in the US is not taxable in India, upholding the India-US DTAA and clarifying that the place of service, not receipt, determines taxability.
The ITAT Raipur quashed a reassessment order, ruling that the mandatory requirement for a signed approval from tax authorities was violated, rendering the entire proceeding void.
ITAT annulled demands for AYs 2017-18 & 2018-19, holding that corpus donations, capital expenditure, and statutory accumulation by Rohilkhand Educational Charitable Trust qualify as charitable application, and cash deposits during demonetisation are not taxable under Section 68.
The ITAT Ahmedabad deleted a Rs.30.5 lakh addition, ruling the loan was genuine and supported by bank records, while upholding the reopening of the assessment.
The ITAT Ahmedabad condoned a 604-day delay and remanded a case for fresh consideration of a public trust’s registration after the CIT(E) cancelled its provisional registration.
Relying on Malabar Industrial, Max India, and Gabriel India precedents, ITAT ruled that when two views are possible, PCIT cannot assume jurisdiction. Original assessment for AY 2020-21 was restored.
Gujarat HC set aside an income tax reassessment order after the AO failed to consider the taxpayer’s detailed reply, emphasizing adherence to natural justice principles.
