ITAT Ahmedabad held that additions under section 68 of the Income Tax Act is not sustainable since assessee established identity, genuineness and creditworthiness of the lenders. Accordingly, addition u/s. 68 deleted.
ITAT Ahmedabad remands 80G application rejection, citing an incorrect assumption about 12A registration status. Case sent back for fresh consideration.
Himachal High Court held that as per section 43-B of the Income Tax Act deduction towards contribution to leave encashment fund is available only when the same is actually paid. Accordingly, appeal of the assessee dismissed.
ITAT Delhi held that there is no case for making any addition u/s 68 of the Act in the hands of the assessee by denying the exemption under section 10(38) of the Act for the LTCG on sale of shares of Unno Industries Limited. Accordingly, appeal allowed.
ITAT Mumbai rules that penalty cannot be maintained after assessment order is quashed, restoring a case to CIT(A) for fresh hearing.
Summary of ITAT Ahmedabad’s decision in Anantrai Vithalbhai Parmar vs. CIT (Appeals) for AY 2017-18. Case remanded for reassessment, emphasizing natural justice.
ITAT Ahmedabad held that the Assessee Trust being purely a religious activities of particular Community is not entitled for registration as a specified violation under Explanation [d] of Section 12AB(4) of the Income Tax Act.
Chhattisgarh HC upholds ITAT decision, grants Section 12AA registration to society promoting technology incubators and start-ups under charitable purpose.
ITAT Agra held that matter of levying penalty u/s. 271(1)(c) of the Income Tax Act restored back to file of AO since Tribunal restored matter of addition towards unexplained cash deposit for quantification.
Allahabad HC quashes GST registration cancellation order, citing violation of natural justice due to differing grounds in show-cause notice and final order.
