Category: ITAT
Uncorroborated WhatsApp message, in the absence of any independent supporting evidence, cannot constitute a valid basis for initiating proceedings under section 153C of the Act – ITAT In a recent judgment, ITAT Mumbai deleted addition under section 69A of the Act on account of alleged cash received over …
Exemption u/s 54F allowed by ITAT holding that investment in purchase of plot in the name of the spouse and their respective shares is immaterial In a recent judgment, ITAT Chennai has allowed exemption u/s 54F observing that entire investment in purchase of plot is in the name …
Addition u/s 68 deleted as identity of loan givers established and assessee was not beneficiary as loan was repaid in subsequent year. In a recent judgment ITAT Mumbai deleted addition under section 68 as the assessee had furnished requisite material showing identity of loan givers and assessee was …
Joining lands and entering development agreement amounted to business as owners who were brother were also directors in the builder company In a recent judgment, ITAT Jodhpur has held that activity of joining the lands and constructing houses thereon amounted to adventure in the nature of trade as …
The deductor not required to act as an investigator or auditor to conduct any factual verification of the transporter’s declarations under section 194C(6) In a recent judgment, ITAT Chandigarh has held that provisions of section 194C(6) did not require the deductor to examine balance sheets, registration certificates, …
Non furnishing of reasons recorded for reopening of assessment despite assessee asking the same, the reassessment order bad in law. In a recent judgment, ITAT Delhi held that where reasons recorded were not furnished for reopening of assessment even when assessee sought for the same, the reassessment order …
When search u/s 132 was not conducted at the registered address of the assessee company, proceeding u/s 153A can not be initiated on the assessee. In a recent judgment, ITAT Delhi has held that when search u/s 132 was not conducted at the registered address of the assessee …
No disallowance merely because of self-made vouchers for expenses when such expenses are common in the kind of business done by the assessee – ITAT In a recent judgment ITAT Bangalore has held that disallowance merely because of self-made vouchers for expenses is not correct when such expenses …
ITAT quashed order passed by PCIT u/s 263 without mentioning specific Section under which AO should have made the addition In a recent judgment, ITAT Delhi has held that order passed by the PCIT under Section 263 without mentioning the specific charging Section under which the AO should …
Assessee entitled to claim deduction u/s 48 of housing loan interest paid for remaining amount over and above already claimed u/s 24(b) of the Income Tax Act. In A recent judgment, ITAT Surat has held that the assessee is entitled to claim deduction u/s 48 of housing loan …
