Category: ITAT
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 …
Benefit of doubt needs to go in favour of assessee when tested on the touchstone of preponderance of probabilities, the explanation offered appears fairly reasonable. In a recent judgment, ITAT Delhi deleted addition under section 69A and held that benefit of doubt needs to go in favour of …
Advance given for purchase and subsequently written off in Profit and Loss account as bad debts allowed as business expenditure u/s 37(1) In a recent judgment, ITAT Chandigarh allowed deduction under section 37(1) as business expenditure towards advance written off as irrecoverable bad debts, following the Supreme Court …
