Category: ITAT

Use of words, “either and or” in recording reasons to believe shows Ao was unsure of the facts and initiated proceedings in mechanical manner – ITAT In a recent judgment, ITAT Ahmedabad held that use of words, “either and or” in reasons to believe reveals that the Assessing …

Section 11(2) related to accumulation of income not require that it can be utilized only after expenditure of relevant assessment are applied. In a recent judgment, ITAT Lucknow has held that Section 11(2) related to accumulation of income by charitable institutions does not provide that expenditure of relevant …

Income tax on gross winnings from online games without setting off loss upheld as section 115BBJ is prospective. In a recent judgment, ITAT Hyderabad has upheld tax on gross winnings instead of net winnings from online games holding that provisions of 115BBJ being a new section introduced from …

ITAT deleted addition for late deposit of PF and ESI contributions as CPC intimations u/s 143(1) were issued prior to the decision of the Hon’ble Supreme Court In an interesting judgment, ITAT Delhi deleted addition for late deposit of PF and ESI contributions holding that CPC intimations under …

ITAT deleted penalty u/s 271AAB as show cause notice did not specify limb of penalty applicable to the assessee. In a recent judgment, ITAT Chandigarh has deleted penalty under section 271AAB as the show cause notice issued did not specify applicable limb of penalty. ABCAUS Case Law Citation:4703 …

Once it is established that assessee has not maintained the books of account, same can not be audited – ITAT In a recent judgment, ITAT Jaipur quashed the levy of penalty u/s 271B for failure to get accounts audited u/s 44AB holding that once it is established that …

When assessee had already repaid unsecured loans along with the interest no addition can be made under Section 68 treating them accommodation entries. In a recent judgment, ITAT Jaipur held that where assessee had already repaid unsecured loans along with the interest no addition can be made under …

Addition made by CPC as per Clause 16(b) of Tax Audit Report deleted as it was not stated in the report that it was income of the assessee In a recent judgment, ITAT Delhi has deleted addition made by CPC on the basis of disclosure in Clause 16(b) …

There is no bar to a taxpayer for making a claim by a letter without filing a revised return in a case u/s 143(3) of the Act – ITAT In a recent judgment, ITAT Rajkot has held that there is no bar to a taxpayer for making a …

ITAT deleted penalty u/s 270A for non specification as to whether assessee misreported the income or under reported In a recent judgment, ITAT Jaipur has deleted penalty u/s 270A for non specification as to whether assessee misreported the income or under reported. It was also held that when …