Category: ITAT

Genuineness of transaction continuing from preceding year can not be disapproved without cogent material In a recent judgment, the Bombay ITAT has held that genuineness of the transaction continuing from preceding year can not be disapproved merely based on information received from the Investigation Wing ABCAUS Case Law …

ITAT deletes Penalty u/s 270A due to defective notice issued u/s 274 for not specification of penalty In a recent judgment, the Bombay ITAT has deleted Penalty u/s 270A due to defective notice u/s 274 for not determination of penalty and for not mentioning in penalty order why …

No additional evidence to be admitted by CIT(A) unless Assessing Officer is given opportunity of examining the evidence and rebut the same In a recent judgment, Hon’ble ITAT has held that as per Rule 46A, no additional evidence to be admitted unless CIT(A) gives Assessing Officer an opportunity …

Unless, discrepancy is found in physical quantities, assessee agreeing to increase stock value does not amount to undisclosed stock u/s 69B taxable u/s 115BBE In a recent judgment, ITAT Chennai has held that unless discrepancy is found in physical quantities, of stock, assessee merely agreeing to increase stock …

CIT(A) is required to communicate the notice through the email id available in Form 35 of the  appeal memo as per CBDT Notification No. 139/2021 In a recent judgment, the ITAT has held that CIT(A) is required to communicate the notice through the email id available in Form …

AO was justified to estimate profits of civil construction @10 percent applying provisions of section 44BBB In a recent judgment, ITAT has held that Assessing Officer was justified in estimating profits of civil construction @10 percent applying provisions of section 44BBB when books were rejected and the assessee …

Challenge to intimation passed u/s 143(1) calls for independent adjudication in terms of statutory dictate of Section 246A(1)(a) of the Income Tax Act – ITAT In a recent judgment, ITAT has held that CIT(A) erred in non adjudicating challenge to intimation u/s 143(1) making substantial adjustment and challenge …

ITAT set aside Penalty u/s 271B as Tax Audit Report was not filed due to strained relationship with CA In a recent judgment, ITAT Nagpur has set aside Penalty u/s 271B as the assessee could not file Tax Audit Report due to strained relationship with Chartered Accountant. ABCAUS …

Mere technical mistake made by assessee while filing up return cannot be a ground of disallowing the claim when such mistake is curable – ITAT In a recent judgment, ITAT has directed CPC to allow deduction for amount paid as gratuity to LIC trust holding that mere technical …

In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit of TDS – ITAT In a recent judgment, ITAT has held that in absence of mala fide intention bank should not be treated as assessee in default for …