Category: ITAT

Bulk entries passed in books of accounts cannot be said to be entirely bogus expenses – ITAT In a recent judgment, the ITAT Chennai has held that practice of making bulk entries in books of accounts is indeed an accounting anomaly, but cannot be straightaway construed as booking …

CIT(A) exceeded his legal brief directing verification of receipts before granting of TDS In a recent judgment, the ITAT Kolkata has held that the CIT(A) exceeded his legal brief directing Assessing Officer (AO) to verify the receipts before granting of credit of TDS duly reflected in Form 26AS. …

Income surrender during survey on account of low GP rate not taxable to higher tax rate under deeming provisions u/s 115BBE – ITAT  In a recent judgment, the ITAT Chandigarh has held that mere fact that survey has been carried out on the business premises of the assessee …

When assessee not liable to deduct TDS, no late fee u/s 234E can be imposed for late filing of TDS return by the assessee In a recent judgment, the ITAT Ahmadabad has held that when assessee not liable to deduct TDS, no late fee u/s 234E can be …

Nobody would withdraw cash and keep it idle for a long period – ITAT uphold addition for cash deposit In a recent judgment, the ITAT Surat has rejected the cash withdrawal made one year prior as source of cash deposit in bank holding that it cannot be accepted …

Assessee should not be disqualified from producing evidence merely for the fact it was not produced before the Assessing Officer (AO) In a recent judgment, the ITAT Ranchi has held that the assessee should not be disqualified from producing evidence merely for the fact it was not produced …

Cultivation of banana saplings held as agricultural activity after Plantlets left laboratory – ITAT In a recent judgment, the ITAT Hyderabad dealt with the question whether cultivation of banana saplings is an agricultural activity or not and held that income derived from the operations conducted after the Plantlets …

In best judgment assessment case, it could not be alleged that AO did not make proper enquiries In a recent judgment, the ITAT Chennai has held that when assessment was framed on best judgment basis wherein the income is assessed to the best judgment of AO without considering …

AO can’t review own decision by rectification u/s 154 to disallow late deposit of PF  In a recent judgment, the ITAT Delhi has held that when Assessing Officer consciously allowed deduction of late deposit of PF, subsequently, by relying on the judgment of the Hon’ble Supreme Court he …

Addition u/s 68 on the premise that cash was deposited 16 days after receipt quashed by ITAT In a recent judgment, the ITAT Delhi has quashed the addition u/s 68 for cash deposited in bank adopting an unreasonable approach that cash was deposited 16 days after the receipt …