Judgement

ITAT Holds SEB Tariffs as Proper Benchmark for Section 80-IA Deductions and Deletes Double Disallowances and Excess Corporate Guarantee Adjustments

ITAT Rejects IEX Rates for Captive Power and Orders Correction of AO’s Computational Errors

Tribunal Upholds 0.25% Corporate Guarantee Fee as Arm’s Length and Allows Employee Welfare School Donation as Business Expenditure

ITAT Rules Sale of Carbon Credits as Non-Taxable Capital Receipt; Deletes Major Additions

Accumulated income under Section 11(2) held validly applied where expenditure is wholly towards charitable educational purposes

ITAT Allows Application of Accumulated Funds Spent on Educational Objects; Procedural Lapse Not Fatal

ITAT Delhi dismisses Revenue appeal and partly allows assessee’s cross objection, quashing reassessment on jurisdictional and sanction defects

Reassessment Invalid as Notices Issued by Jurisdictional AO Instead of Faceless Authority: ITAT

ITAT Quashes Reassessment as AO Made New Addition Without Assessing Escaped Income Cited in Reasons for Reopening

Reassessment Invalid Where No Addition Made on Recorded Reasons; Section 40A(3) Addition Unsustainable

ITAT held that a co-operative society is entitled to a deduction under Section 80P(2)(d) on interest income earned from investments made with other co-operative societies.

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ITAT Rejects IEX Rates for Captive Power and Orders Correction of AO’s Computational Errors

ITAT Rules Sale of Carbon Credits as Non-Taxable Capital Receipt; Deletes Major Additions

ITAT Allows Application of Accumulated Funds Spent on Educational Objects; Procedural Lapse Not Fatal

Reassessment Invalid as Notices Issued by Jurisdictional AO Instead of Faceless Authority: ITAT

Reassessment Invalid Where No Addition Made on Recorded Reasons; Section 40A(3) Addition Unsustainable

Deduction u/s 80P Cannot Be Denied If Investment Is with Co-operative Society: ITAT Rules