Category: ITAT

Under peak theory, only peak cash deposit to be taxed instead of entire cash deposit in bank account – ITAT In a recent judgment, the ITAT Delhi has reduced addition of entire cash deposit holding that even as per the peak credit theory, instead of taxing the entire …

Merely because no addition is made, assessment cannot be held as erroneous or prejudicial – ITAT In a recent judgment, the ITAT Jaipur has held that merely because assessment unit has not made any addition the assessment cannot be considered as erroneous or prejudicial u/s 263. ABCAUS Case …

Penalty confirmed for filing revised return claiming bogus deductions under Chapter VIA with the intention of claiming illegal refund. In a recent judgment, the ITAT Amritsar has confirmed the penalty for filing revised returns claiming bogus deductions under various sections of Chapter VIA and also claiming loss on …

A consistent view taken by AO can’t be held erroneous and prejudicial to interest of revenue – ITAT In a recent judgment, the ITAT Ahmedabad has held that a consistent view taken by AO can’t be held erroneous and prejudicial to interest of revenue. ABCAUS Case Law Citation:ABCAUS …

CIT(A) have no power to dismiss appeal for non-prosecution In a recent judgment, the ITAT Panji has held that CIT(A) does not have any power to dismiss appeal for non-prosecution. ABCAUS Case Law Citation:ABCAUS 4097 (2024) (06) ITAT In the instant case, the assessee had challenged the order …

If no addition made in reassessment proceedings on issues as per reasons recorded, AO should drop proceedings instead of passing order In a recent judgment, the ITAT Delhi has held that having recorded the reasons for reopening the assessment and having formed a belief that income of the …

Notice u/s 148A(b) issued by non-jurisdictional AO bad in law – ITAT quashed order u/s 148A(d) In a recent judgment, the ITAT Jodhpur has quashed order u/s 148A(d) as notice u/s 148A(b) was issued by the non-jurisdictional ITO was bad in law. ABCAUS Case Law Citation:ABCAUS 4095 (2024) …

Area of agricultural land would still as agricultural land despite expansion of the municipal limit – ITAT In a recent judgment, the ITAT Delhi has held that due to the expansion of the municipal limit the area of agricultural land would still as agricultural land not filing definition …

AO cannot be presumed to adopted or chosen a course permissible in law when his order does not speak in that behalf – ITAT In a recent judgment, the ITAT Bangalore has confirmed the revisonary order passed by PCIT u/s 263 holding that the Assessing Officer cannot be …

Penalty u/s 271B not leviable as assessee was under bona fide belief that he was not subject to tax audit In a recent judgment, the ITAT Agra has deleted Penalty u/s 271B where the assessee was under the bona fide belief that he was not subject to tax …