Category: Income Tax

Once ITAT set-aside order of CIT(A) for denovo adjudication, CIT(A) do not have any power to direct the Assessing Officer to frame Fresh Assessment. In a recent judgment, ITAT Pune has held that once ITAT set-aside the order u/s 250 for denovo adjudication, the CIT(A)/NFAC do not have …

Addition u/s 41(1) deleted as spot enquiry of creditors done by Inspector was not as per procedure laid down In a recent judgment, ITAT Lucknow has deleted addition under section 41(1) of Income Tax Act based on spot enquiry of creditors made by the AO through inspector who …

Law does not require needless formalism when substantive compliance is manifest – ITAT deleted disallowance of exemption made under section 54 – ITAT  In a recent judgment, ITAT Mumbai has deleted disallowance of exemption made u/s 54 of the Income Tax Act on the premise that the assessee …

There is no legal provision which compels a person to necessarily deposit/invest the cash available in hand – ITAT In A recent judgment, ITAT Jabalpur has held that there is no legal provision which compels a person to necessarily deposit/invest the cash available in hand in bank. Keeping …

ITAT deleted addition of undisclosed income made solely on the basis of WhatsApp chat message In a recent judgment, ITAT Ahmedabad deleted addition made solely on the basis of WhatsApp chat message on account of undisclosed income being unaccounted cash received as ‘on-money’ on sale of land. ABCAUS …

Omission in mentioning name of lender in the audit report no basis to discard cogent documentary evidence – ITAT In a recent judgment, ITAT Agra has held that any omission in mentioning the name of lender/payee in the tax audit report cannot be made basis to discard assessee’s …

In deciding the authenticity of agricultural income, certificate from the Tahsildar and expert report cannot be ignored in preference to unverified Google Earth Pro images – ITAT In a recent judgment, ITAT Chennai has held that in deciding the agricultural income, the authenticated documents such as the certificate …

CBDT amends scope of exclusions from e-Appeals Scheme 2023 by increasing threshold of disputed demand CBDT amends scope of exclusions from e-Appeals Scheme 2023 by increasing threshold of disputed demand to Rs. 25 lakhs from Rs. 10 lakhs CBDT vide Notification No. 33/2023 dated 29.05.2023 notified e-Appeals Scheme …

Case remanded as assessee belonged to tribe and his income was exempt u/s 10(26) and he did not get opportunity to explain his case. In a recent case, ITAT Guwahati remitted the case to Assessing Officer as the assessee was a resident Tribe of Arunachal and his income …

Loss of jewellery seized and kept in bank custody amounts to loss by Income Tax Authorities and payment of said jewellery has to be made by the Income Tax Authorities. In a recent judgment, Hon’ble High Court has held that the loss of jewellery seized by Income Tax …