Judgement

The ITAT allows Section 80P deduction on interest from statutory funds, staff loans, and surplus investments.

Interest on Surplus Funds Eligible for Section 80P Deduction; Rules ITAT

The Tribunal noted that the reopening was done on the wrong facts, as the AO incorrectly claimed that no return was filed.

ITAT Quashes Reopening Due to Incorrect Facts and Absence of Evidence

ITAT deletes the cash deposit addition, accepting the family source explanation supported by the affidavit and surrounding circumstances.

ITAT Deletes Demonetisation Addition; Accepts Explained Family Cash Source

ITAT holds that sales supported by invoices, bank trail and C-Forms cannot be treated as unexplained cash credit merely based on investigation reports.

ITAT Deletes Rs. 1.88 Cr Section 68 Addition on Sales; Commission Addition Also Quashed

The ITAT ruled that delay in filing appeals should be condoned when caused by genuine procedural difficulties and held that APMC’s income is fully exempt under Section 10(26AAB).

ITAT: Delay in Filing Appeal Should Be Condoned When Assessee Faces Genuine Procedural Difficulties; APMC Income Fully Exempted

The ITAT held that a taxpayer can still claim the Section 54 exemption during appellate proceedings even if it was not claimed in the original or revised ITR.

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Interest on Surplus Funds Eligible for Section 80P Deduction; Rules ITAT

ITAT Quashes Reopening Due to Incorrect Facts and Absence of Evidence

ITAT Deletes Demonetisation Addition; Accepts Explained Family Cash Source

ITAT Deletes Rs. 1.88 Cr Section 68 Addition on Sales; Commission Addition Also Quashed

ITAT: Delay in Filing Appeal Should Be Condoned When Assessee Faces Genuine Procedural Difficulties; APMC Income Fully Exempted

Missed Section 54 in Initial ITR? ITAT Says You Can Still Claim It During Appellate Proceedings