Judgement

Tribunal finds Section 50C addition and Rs. 12 crore surrender unsustainable without seized material; directs CIT(A) to re-examine entire matter afresh

ITAT Hyderabad Condones 868-Day Delay, Sends Back Section 153A Additions for Fresh Review

ITAT Mumbai deleted all penalties after ruling that none of the additions were based on incriminating material found during the search.

ITAT Mumbai Deletes All Penalties u/s 271(1)(c), 270A and 271AAB After Finding No Incriminating Material in Search

The ITAT Chennai has allowed the company to enjoy a deduction under Section 80P(2)(d) for the interest earned from investment made in VDCC and dismissed the appeal of Revenue.

ITAT Chennai Allows 80P Deduction on Interest from Co-operative Bank; Revenue’s Appeal Dismissed

The Tribunal set aside the disallowance and directed the AO to allow the assessee’s CSR-related 80G claim.

ITAT Mumbai Holds CSR Donations to Charities Eligible for Section 80G Deduction; Favours Assessee

The ITAT set aside Luminous Power’s tax assessments for AY 2017-18 and 2018-19 after finding the orders were issued beyond the statutory deadline under Section 144C(13).

ITAT Quashes Time-Barred Assessment Orders u/s 144C(13) of Income Tax Act, 1961; Favours Assessee

Articles

The Income Tax Department has reduced the tax demand from Rs 216.19 crore to Rs 190.21 crore for the financial year 2020-21.

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ITAT Hyderabad Condones 868-Day Delay, Sends Back Section 153A Additions for Fresh Review

ITAT Mumbai Deletes All Penalties u/s 271(1)(c), 270A and 271AAB After Finding No Incriminating Material in Search

ITAT Chennai Allows 80P Deduction on Interest from Co-operative Bank; Revenue’s Appeal Dismissed

ITAT Mumbai Holds CSR Donations to Charities Eligible for Section 80G Deduction; Favours Assessee

ITAT Quashes Time-Barred Assessment Orders u/s 144C(13) of Income Tax Act, 1961; Favours Assessee

Jubilant FoodWorks Receives Rectification Order from Income Tax Department; Files Appeal Against Tax Demand