Category: ITAT

Bonafide belief that TDS was deducted and no additional tax was payable accepted by ITAT In a recent judgment, ITAT Mumbai has held that the submissions of the assessee, that she was under a bonafide belief that the tax at source was deducted properly and no additional tax …

With passing of order u/s 143(3) intimation u/s 143(1) got merged with the same and independently lost its force – ITAT  In a recent judgment, ITAT Delhi has held that when order under Section 143(3) is passed by the AO, the order of intimation under Section 143(1) of …

Technical defects can not be ignored in era of e-filing, AO was directed to consider revised Audit Report in Form 10CCB  In a recent judgment, ITAT Guwahati has held that technical defects can not be ignore in this new era of e-filing, Assessing Officer was directed to consider …

CPC not justified in disallowing deduction u/s 80JJAA when Audit Report was available on the date of processing the return – ITAT  In a recent judgment, ITAT Pune has held that CPC was not justified in disallowing deduction u/s 80JJAA when Audit Report though filed belatedly, was available …

Notice issued u/s 148 invalid if not signed digitally or manually by Assessing Officer – ITAT  In a recent judgment, ITAT Kolkata quashed the assessment order u/s 147 as the notice  issued u/s 148 was invalid as it did not bear the signature of Assessing Officer either digitally …

Interest paid on borrowed funds utilized for investment in group companies for strategic business purpose with commercial expediency cannot be disallowed u/s 36(1)(iii) – ITAT In a recent judgment, ITAT Chennai has held that interest paid on borrowed funds utilized for investment in group companies for strategic business …

Penalty u/s 271E can not be imposed on cash repayment of advances treated as unexplained cash credits. In a recent judgment, the ITAT Nagpur has held Penalty u/s 271E can not be imposed on cash repayment of advances treated as unexplained cash credits. Any repayment of such alleged …

Under Section 69, AO is under obligation to give reasons for not accepting explanations given by the assessee – ITAT In a recent judgment, ITAT Lucknow has held that under section 69 if the explanation furnished by the assessee not found to be satisfactory, the AO is under …

ITAT remitted case for verification of Transporter’s declaration u/s 194C(6) and decide the issue of addition on account of non deduction of TDS afresh In a recent judgment, ITAT Patna has remitted the issue of disallowance u/s 40(a)(ia) to CIT(A) for verification of Transporter declaration u/s 194C(6) and …

Before Amendment Section 14A cannot be invoked if no exempt income was earned – ITAT In a recent judgment, ITAT Rajkot has held that for the pre-amendment period, section 14A cannot be invoked where no exempt income was earned. Admission of SLP, is a significant step in the …