Judgement

ITAT remanded the assessment and penalty proceedings to the AO after holding that the assessee's insolvency under the IBC justified a fresh opportunity to present evidence.

ITAT Orders Fresh Assessment After Accepting Insolvency-Related Delay and Non-Compliance

The ITAT Ahmedabad has set aside rejection orders passed against 75 charitable trusts and institutions seeking registration or renewal under Section 12A & 12AB 

ITAT Rules Charitable Trusts Cannot Lose Tax Benefits Due to Procedural Lapses Without Effective Opportunity of Being Heard

The ITAT held that the belated filing of the tax audit report was a technical breach since it was submitted before reassessment was completed and considered by the AO.

Section 271B Penalty Is Unsustainable Since AO Considered Tax Audit Report Before Completing Reassessment, Holds ITAT

The Delhi ITAT held that an APA margin cannot be applied to an assessment year outside the APA's coverage and directed verification of the working capital adjustment.

ITAT: APA Margin Cannot Be Applied to Assessment Year Outside Its Coverage

Delhi ITAT upheld deletion after finding assessee established identity, creditworthiness and genuineness of investors.

ITAT Deletes Rs 59.53 Crore Section 68 Addition After Assessee Proves Share Capital

Delhi ITAT upheld deletion of Section 68 and Section 41(1) additions after finding adequate supporting evidence.

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ITAT Orders Fresh Assessment After Accepting Insolvency-Related Delay and Non-Compliance

ITAT Rules Charitable Trusts Cannot Lose Tax Benefits Due to Procedural Lapses Without Effective Opportunity of Being Heard

Section 271B Penalty Is Unsustainable Since AO Considered Tax Audit Report Before Completing Reassessment, Holds ITAT

ITAT: APA Margin Cannot Be Applied to Assessment Year Outside Its Coverage

ITAT Deletes Rs 59.53 Crore Section 68 Addition After Assessee Proves Share Capital

ITAT Deletes Section 68 Addition After Assessee Proves Loan Identity, Creditworthiness