Category: ITAT

Once assessee filed ITR, in response to the notice u/s 148 of the Act, even beyond time prescribed, Assessing Officer is required to issue notice u/s 143(2) – ITAT In a recent judgment, ITAT Lucknow has held that once the assessee has filed the return, in response to …

Voluntary declaration of additional income by increasing WIP was not proper, as assessee will take the additional benefit in the subsequent year – ITAT In a recent judgment, ITAT has held that voluntary declaration/surrender of additional income by the assessee during the survey should not have been made …

Cash payment for purchase of land or property cannot be treated as violation of provisions of section 269SS or 269T of the Income Tax Act – ITAT In a recent judgment, ITAT has held that cash is the legal tender for purchase of land or property when the …

Location of the assessing officer who passed the order shall decide the jurisdiction of the Bench of the Tribunal In the instant case, ITAT Guwahati has held that the location of the assessing officer who passed the order shall decide the jurisdiction of the Bench of the Tribunal …

ITAT directed registration u/s 12AB as activities of the trust fall under general public utility services if not falling fall within the ambit of education. In a recent judgment, ITAT Chennai has directed CIT(Exemption) to grant registration u/s 12AB holding that even if the activities of the trust …

Utilisation of loan amount would not constitute failure to discharge onus caste u/s 68 in absence of any defect in the documentary evidence produced by the assessee – ITAT In a recent judgment, ITAT Hyderabad has held that where the Assessing Officer had not made out any defect …

Addition on the basis of third party information in form of unsigned excel sheet can not be sustained – ITAT In a recent judgment, ITAT Rajkot has held that addition made on the basis of third party information in form of unsigned excel sheet can not be sustained. …

Shagun money received on marriage of individual cannot be considered as income in the year of its receipt – ITAT In a recent judgment, ITAT has held that receipt of shagun money without consideration on the occasion of the marriage of the individual cannot be considered as the …

ITAT deleted addition towards cash deposited in bank account observing that there is no statutory requirement to maintain cash book for salaried individual. In a recent judgment, ITAT Delhi has deleted addition u/s 69A towards cash deposited in bank account and held that there is no statutory requirement …

ITAT allows benefit of increased exemption limit of Rs. 25 lakhs for Leave Encashment u/s 10(10AA)(ii) In a recent judgment, ITAT Lucknow has allowed benefit of increased exemption limit of Rs. 25 lakhs for Leave Encashment amount u/s 10(10AA)(ii) of Act holding that increased limit is applicable with …