Judgement

ITAT held entire purchases cannot be disallowed where corresponding sales are accepted and stock records support transactions.

ITAT Restricts Bogus Purchase Addition to 1.15% Profit Element Despite Seller Denials

ITAT grants Section 80P(2)(d) deduction following Gujarat High Court ruling on co-operative banks.

ITAT Allows Section 80P Deduction on Interest Earned from Co-operative Banks

The ITAT Bangalore has restored a dispute to the AO concerning taxability of fixed deposit interest earned on funds belonging to another company. 

ITAT Rules Interest Reflected in Form 26AS Cannot Alone Determine Taxability, Assessee Must Prove that FD Funds Belonged to Another Entity

Ahmedabad ITAT upheld reassessment, ruling no Section 143(2) notice was required without a fresh return under Section 148.

ITAT Upholds Reassessment, Rejects Challenge Over Absence of Section 143(2) Notice

ITAT directed CIT(A) to condone delay and decide penalty appeals on merits.

ITAT Restores Penalty Appeals, Says Delay Alone Cannot Defeat Meritorious Cases

The ITAT Bangalore has partly allowed the appeal filed by Castles Vista Pvt. Ltd. by deleting multiple additions and disallowances made during assessment. 

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ITAT Restricts Bogus Purchase Addition to 1.15% Profit Element Despite Seller Denials

ITAT Allows Section 80P Deduction on Interest Earned from Co-operative Banks

ITAT Rules Interest Reflected in Form 26AS Cannot Alone Determine Taxability, Assessee Must Prove that FD Funds Belonged to Another Entity

ITAT Upholds Reassessment, Rejects Challenge Over Absence of Section 143(2) Notice

ITAT Restores Penalty Appeals, Says Delay Alone Cannot Defeat Meritorious Cases

ITAT Holds Mere Clerical Error and Creditor’s Non-Response Do Not Justify Tax Additions