Category: ITAT

When land appurtenant was sold without building, it is not sale of residential property but sale of  adjacent land and not qualified for exemption under section 54 of the Income Tax Act, 1961 In a recent judgment ITAT Allahabad upheld denial of exemption under section 54 holding that …

Expenditure over income should have been considered even if the claim of exemption under section 11 was not allowed by CPC – ITAT  In a recent judgment ITAT Guwahati has held that audited income and expenditure account showing net excess expenditure over income should have been considered even …

Some inadequacy in inquiry cannot be a ground for invocation of revisionary powers under section 263 of the Act.   In a recent judgment ITAT Delhi has held that some inadequacy in the manner of inquiry cannot necessarily be a ground for invocation of revisionary powers under section …

Bank certificate stating that fixed deposits did not pertain to the assessee, despite PAN of assessee used, the onus casted upon the assessee stood discharged – ITAT In a recent judgment ITAT Mumbai deleted addition u/s 69A observing that once the bank issued a certificate stating that the …

Entire TDS credit allowed to the joint owner of the property in whose account entire sale consideration was received  In a recent judgment ITAT Bangalore allowed the entire TDS credit to the joint owner of the property in whose account entire sale consideration was received as the co-owners …

Even when the trust is not registered u/s 12A, taxes can be levied on the net income and taxing of the entire receipts without any deduction towards expenditure is wrong and illegal – ITAT In a recent judgment ITAT Chandigarh has held that even when the Trust is …

Merely stating head of income from which unexplained investment was generated without stating the actual source does not amount to an explanation within the meaning of section 69.  In a recent judgment ITAT Allahabad has held that merely stating the head of income from which the unexplained investment …

No infirmity in reopening on the reasoning that no return was filed by the assessee when assessee was using two different PANs, one for bank operation and other for filing ITR – ITAT  In a recent judgment ITAT Allahabad has held that there was no infirmity in the …

CIT(A) gave very short time to the assessee to furnish the details and prima-facie it showed that fair opportunity of hearing was not given to the assessee.  In a recent judgment, The ITAT Pune remitted the case for re-consideration observing that that CIT(A) gave very short time to …

ITAT restored the application for approval u/s 80G observing that CIT(E) did not discuss the objects and activities carried-out by the trust In a recent judgment, ITAT Hyderabad observing that CIT(E) did not discuss the objects and activities carried-out by the trust which showed that he dismissed the …