Category: ITAT
Case remitted for verification of wrong figure on account of adjustment for ICDS as reported by Tax Auditor. In a recent judgment, the ITAT Chennai remitted the matter for verification where CPC made adjustment u/s 143(1) of the Income Tax Act, 1961 (the Act) due to wrong figure …
Specific notice required if CIT(Exemption) intends to travel beyond three years expenditure as prescribed in Rule 11AA(g) – ITAT In a recent judgment, the ITAT Surat held that if CIT(Exemption) intends to travel beyond three years expenditure as prescribed in Rule 11AA(g), he should have issued specific show …
Penalty u/s 271D deleted due to ‘reasonable cause’ as assessee belonged to Schedule Tribe and income earned by him was exempt u/s 10(26) of the Act. In a recent judgment, the ITAT Guwahati deleted penalty u/s 271D for violation of section 269SS observing that there was a ‘reasonable …
Mere affidavits of family members not enough claim benefit of CBDT Instruction No. 1916 dated 11.05.1994 in respect of jewellery belonging to family members. In a recent judgment, the ITAT Delhi has held that by simply filing affidavits of the family members to contend that jewellery belonged them …
Penalty u/s 271D not automatic. AO is required to find out that even if there was any failure, the same was without a reasonable cause. In a recent judgment, the Bangalore ITAT has deleted penalty u/s 271D for violation of provisions of section 269SS observing that Levy of …
Source of cash deposit being savings and family support plausible to certain extent –ITAT deleted addition on account of cash deposit in bank. In a recent judgment, ITAT Visakhapatnam partly deleted addition for cash deposit in bank considering that the assessee’s submission regarding accumulation of savings and receipt …
Penalty u/s 270A(9) deleted by ITAT as assessee pursuant to notice u/s 148 filed return and had paid due taxes In a recent judgment, ITAT Ahmedabad has deleted penalty u/s 270A(9) when assessee pursuant to notice u/s 148 filed return and paid due taxes. ABCAUS Case Law Citation:4395 …
Net Profit rate of about 40% not possible in contract work especially when assessee does contract work for government department – ITAT In a recent judgment, ITAT Pune upheld estimating net profit @ 8% against addition on account of alleged payments to bogus sub contractors made by the …
Assessment made u/s 143(3) despite AY comprised in block period under satisfaction note recorded u/s 153C was void ab initio – ITAT In a recent judgment, ITAT Delhi has held that assessment completed u/s 143(3) despite satisfaction note recorded u/s 153C for the Assessment Year comprised in block …
Revisionary order u/s 263 quashed as PCIT made no discussion why he did not agree with the submissions of the assessee In a recent judgment, the ITAT Lucknow has set aside revisionary order u/s 263 as PCIT made no discussion in the impugned order on the submissions made …