Judgement

Tribunal restores matter after directing AO to examine additional evidence on source of funds.

ITAT Remands Rs 7 Lakh Addition for Fresh Verification of Loan Source

The ITAT held that a Section 148 notice issued after the statutory limitation period was invalid, quashing the entire reassessment proceedings for AY 2015-16.

ITAT Quashes Reassessment as Section 148 Notice Was Issued Beyond Limitation Period

Tribunal quashes penalty after holding vague Section 274 notice invalid in law.

ITAT Deletes Rs 30 Lakh Penalty Over Defective Section 274 Notice

Tribunal condones delay, grants Section 10(10B) exemption on BSNL VRS compensation and consequential refund.

ITAT Condones Delay, Allows BSNL VRS Tax Exemption Under Section 10(10B)

The ITAT Visakhapatnam observed that estimation of profit must be based on the facts of each assessment year and reduced the profit rate from 8% to 5%


ITAT Rules Separate Addition under Section 69A Cannot Survive Once Income is Estimated on Gross Turnover

ITAT remands Section 69C unexplained expenditure case, directing CIT(A) to provide the taxpayer a fresh opportunity to explain credit card expenses before deciding the appeal on merits.

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ITAT Remands Rs 7 Lakh Addition for Fresh Verification of Loan Source

ITAT Quashes Reassessment as Section 148 Notice Was Issued Beyond Limitation Period

ITAT Deletes Rs 30 Lakh Penalty Over Defective Section 274 Notice

ITAT Condones Delay, Allows BSNL VRS Tax Exemption Under Section 10(10B)

ITAT Rules Separate Addition under Section 69A Cannot Survive Once Income is Estimated on Gross Turnover

ITAT Remands Section 69C Addition Case, Orders Fresh Opportunity to Taxpayer