Judgement

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.

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

ITAT quashes CPC’s denial of exemption, holding that disallowance of the entire income application is beyond the scope of adjustments permissible under Section 143(1).

Income Tax: CPC cannot do tax adjustment beyond purview of provisions of section 143(1)

The Tribunal cited a previous ruling where it was clarified that investments that did not earn exempt income cannot be included for calculation under section 14A.

Investments Not Yielding Exempt Income Cannot be Considered for Calculating Disallowance u/s 14A: ITAT

HC invalidates 153C action without incriminating material; exempts rural agricultural land sale profits from tax.

HC Quashes 153C Proceedings; Rural Agricultural Land Sale Not Taxable

The Bombay HC sought compliance from the tax authorities on processing petitioner's refund and directed that interest be paid until the actual date of credit.

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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

Income Tax: CPC cannot do tax adjustment beyond purview of provisions of section 143(1)

Investments Not Yielding Exempt Income Cannot be Considered for Calculating Disallowance u/s 14A: ITAT

HC Quashes 153C Proceedings; Rural Agricultural Land Sale Not Taxable

Income Tax Interest should be paid upto date of Refund credit and not date of Order: Bombay High Court