Judgement

The ITAT allows appeal for AY 2014-15, subject to the AO verifying the settlement payment under the Direct Tax Vivad Se Vishwas Scheme, 2024, and issuing Forms 4 and 5.

ITAT Allows Appeal Over Rs 26.03 Lakh Addition After Assessee Settles Tax Dispute Under Vivad Se Vishwas Scheme 2024

The ITAT directed the AO to examine additional evidence and verify the identity, genuineness, and creditworthiness of unsecured loan creditors before passing a fresh order in the Section 68 addition case.

Short Compliance Window Prompts ITAT to Allow Additional Evidence in Unsecured Loan Case

News

Park Medi World informed the stock exchanges that the Income Tax Department’s verification at company-linked premises had no impact on its operations, commitments or expansion plans.

Park Medi World Says Income Tax Department’s Verification at Company-Linked Premises Had No Impact on Operations or Expansion Plans

The ITAT deleted a Section 69A read with Section 115BBE addition after finding that the assessee’s explanation for cash deposits from his business activities was supported by his income tax computation.

ITAT Deletes Section 69A Addition as Income Computation Supports Source of Cash Deposits

The ITAT deleted a Section 68 addition under Section 68, holding that reassessment was unsustainable as NSEL records and bank statements showed no transactions during FY 2011-12.

ITAT Deletes Section 68 Unexplained Cash Credit Addition as NSEL Account Was Opened After FY 2011-12

The ITAT Ahmedabad relies on Investigation findings and earlier decisions involving alleged bogus political donations.


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ITAT Allows Appeal Over Rs 26.03 Lakh Addition After Assessee Settles Tax Dispute Under Vivad Se Vishwas Scheme 2024

Short Compliance Window Prompts ITAT to Allow Additional Evidence in Unsecured Loan Case

Park Medi World Says Income Tax Department’s Verification at Company-Linked Premises Had No Impact on Operations or Expansion Plans

ITAT Deletes Section 69A Addition as Income Computation Supports Source of Cash Deposits

ITAT Deletes Section 68 Unexplained Cash Credit Addition as NSEL Account Was Opened After FY 2011-12

ITAT Upholds Disallowance of Rs 8.50 Lakh Political Donation Deduction Under Section 80GGC