Tag: ITAT Nagpur

Objection of CIT(E) for loans taken without prior permission from Charity Commission was no reason for denial of registration u/s 12A – ITAT In a recent judgment, ITAT Nagpur has held that objection of CIT(E) with regard to loans taken without prior permission from Charity Commission was no …

Fair market price of property cannot be determined exactly. Valuation will differ from valuer to valuer – ITAT In a recent judgment, ITAT Nagpur has deleted addition u/s 56(2)(vii)(b)(ii) observing that the fair market price of property cannot be determined exactly. Valuation will differ from valuer to valuer …

No disallowance u/s 36(1)(iii) can be made for cash-in-hand over the certain period of time unless cogent material is brought to show that it was utilized for undisclosed purpose – ITAT  ABCAUS Case Law Citation: ABCAUS 2405 (2018) 07 ITAT The instant appeal by the assessee was directed …