ITAT Mumbai rules land compensation as non-taxable, upholds consistency. Salary and interest deductions allowed. Revenue barred from changing stand.
ITAT Hyderabad deletes penalty u/s 271D on cash receipts for agricultural land sale, citing reasonable cause and prior rulings. Appeals allowed
UCO Bank seeks Chartered Accountant firms for Concurrent Audit assignments. Apply online from Sept 7-15, 2025. Check eligibility criteria & scope of work.
ITAT Pune has granted partial relief to an assessee, deleting a ₹5 lakh disallowance related to an unexplained cash deposit. Tribunal, however, upheld disallowance of a ₹10 lakh cash gift, ruling that an unregistered gift deed with no witnesses was insufficient evidence, especially when donor was deceased.
A charitable trust cannot be denied Section 80G approval solely for having religious objects. The ITAT ruled that actual expenditure is the key factor.
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 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.
ITAT Kolkata cancels a Section 144 assessment, ruling that the foundational Section 143(2) notice was invalid for failing to comply with mandatory CBDT instructions on scrutiny formats and jurisdictional limits.
The ITAT Mumbai ruled that year-end provisions without an identifiable payee or a crystallized liability do not attract TDS, dismissing the revenue’s appeal against Viacom 18 Media.
ITAT Delhi rules recorded cash sales are not unexplained income under Section 68, preventing double taxation, even during demonetization, if books are accepted.
