Judgement

The ITAT Bangalore has restored a dispute to the AO concerning taxability of fixed deposit interest earned on funds belonging to another company. 

ITAT Rules Interest Reflected in Form 26AS Cannot Alone Determine Taxability, Assessee Must Prove that FD Funds Belonged to Another Entity

Ahmedabad ITAT upheld reassessment, ruling no Section 143(2) notice was required without a fresh return under Section 148.

ITAT Upholds Reassessment, Rejects Challenge Over Absence of Section 143(2) Notice

ITAT directed CIT(A) to condone delay and decide penalty appeals on merits.

ITAT Restores Penalty Appeals, Says Delay Alone Cannot Defeat Meritorious Cases

The ITAT Bangalore has partly allowed the appeal filed by Castles Vista Pvt. Ltd. by deleting multiple additions and disallowances made during assessment. 

ITAT Holds Mere Clerical Error and Creditor’s Non-Response Do Not Justify Tax Additions

ITAT held additional evidence should be admitted where confirmations from numerous customers required time to obtain.

ITAT Restores Section 68 Addition Case After CIT(A) Rejects Fresh Evidence

 ITAT dismissed appeal after refusing to condone an unexplained 2,376-day filing delay.

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ITAT Rules Interest Reflected in Form 26AS Cannot Alone Determine Taxability, Assessee Must Prove that FD Funds Belonged to Another Entity

ITAT Upholds Reassessment, Rejects Challenge Over Absence of Section 143(2) Notice

ITAT Restores Penalty Appeals, Says Delay Alone Cannot Defeat Meritorious Cases

ITAT Holds Mere Clerical Error and Creditor’s Non-Response Do Not Justify Tax Additions

ITAT Restores Section 68 Addition Case After CIT(A) Rejects Fresh Evidence

ITAT Refuses to Condoned 2,376-Day Delay, Dismisses Time-Barred Income Tax Appeal