Judgement

Tribunal remands case after noticing that the assessee’s 10(23C)(vi) exemption claim was denied due to a clerical error in Form 10AB approval, directing AO to verify registration and await rectification

ITAT Hyderabad Sends Back 10(23C) Exemption Matter Over Typographical Error in Approval Order

Tribunal upholds additions after finding that film producer C.R. Manohar had consciously admitted undisclosed expenditure in writing.

ITAT Bangalore: Assessee Cannot Withdraw Voluntary Income Disclosure Made During Search Assessment

The addition under Section 69 was deleted, holding that suspicion cannot take the place of proof.

Even Strong Suspicion Cannot Take Place of Proof: ITAT Deletes Addition Made Based on Assumptions

The ITAT Allahabad removed the Section 271B penalty after holding that no audit is required when no books of accounts are maintained.

Allahabad ITAT Deletes Section 271B Penalty for Absence of Books of Accounts

Kerala High Court Sets Aside ITAT’s 2% Ad-Hoc Disallowance and Remands Section 14A Matter for Fresh Recalculation, Holding Rule 8D Inapplicable to AY 2006-07.

Kerala HC Sets Aside 2% Expenses Disallowance; Rules Rule 8D Not Applicable for AY 2006-07

ITAT Hyderabad rules that capital contributions by partners cannot be taxed in the firm’s hands and must be assessed individually.

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ITAT Hyderabad Sends Back 10(23C) Exemption Matter Over Typographical Error in Approval Order

ITAT Bangalore: Assessee Cannot Withdraw Voluntary Income Disclosure Made During Search Assessment

Even Strong Suspicion Cannot Take Place of Proof: ITAT Deletes Addition Made Based on Assumptions

Allahabad ITAT Deletes Section 271B Penalty for Absence of Books of Accounts

Kerala HC Sets Aside 2% Expenses Disallowance; Rules Rule 8D Not Applicable for AY 2006-07

Unexplained credits appearing in partner capital accounts cannot be taxed in hands of firm: ITAT