Category: ITAT
No addition can be made merely for time gap between withdrawals and redeposits into bank – ITAT In a recent judgment, Hon’ble ITAT Kolkata deleted addition for cash deposit in bank due to time gap between the withdrawals and redeposits into same bank without any findings of fact …
Due to national holiday, deposit of PF on next working date is in due compliance with the provisions of section 36(1)(va) of the Income Tax Act, 1961 – ITAT In a recent judgment, ITAT Chandigarh has held that the due date being the national holiday, the deposit of …
Deduction u/s 80JJAA allowed for delayed filing of Form 10DA as Form 3CD showing the quantum of deduction was filed prior to one month from filing of return of income. In a recent judgment, ITAT Bengaluru has allowed deduction u/s 80JJAA as Form 3CD showing the quantum of …
Third party statement taken after recording reasons cannot form basis of Assessing Officer’s “reasons to believe” to reopen the assessment – ITAT In a recent judgment, ITAT Delhi has held that third party statement recorded subsequent to the reasons recorded, cannot form basis of Assessing Officer’s “reasons to …
Compensation received by the assessee from the builder for cancelling the allotment of flat for delay not chargeable to tax being in the nature of capital receipt. In a recent judgment, ITAT Delhi has held that compensation received by the assessee from the builder for cancelling the allotment …
No deemed dividend u/s 2(22)(e) if funds not utilized for the benefit of the substantial shareholder – ITAT In a recent judgment, ITAT Hyderabad has deleted the addition as deemed dividend u/s 2(22)(e) holding that the payments made by the company had been used for the business purposes …
Pooja Expenses incurred allowable business expenditure under section 37 of the Income Tax Act, 1961 – ITAT In a recent judgment, ITAT Nagpur has held that Pooja Expenses incurred were allowable business expenditure under section 37 of the Income Tax Act, 1961. ABCAUS Case Law Citation:4311 (2024) (11) …
Corrigendum to issued to rectify mistake in original assessment order was a valid assessment order – ITAT In a recent judgment, ITAT Chennai has held that corrigendum to assessment order issued by the Assessing Officer (AO) to rectify mistake in original assessment order was a valid assessment order. …
ITAT allows benefit of New Tax Regime holding that Form No. 10IE is not mandatory but directory in nature In a recent judgment, ITAT Pune has held that that it is not a mandatory requirement for filing of Form No.10IE but directory in nature. ITAT allowed benefit of …
ITAT allows rectification application u/s 154 treating the first demand notice as deemed date of intimation u/s 143(1) In a recent judgment, ITAT Rajkot allowed delayed rectification application u/s 154 treating the first demand notice for recovery proceedings as deemed date of intimation u/s 143(1) for limitation purpose. …
