Judgement

The Tribunal held that Section 271B presupposes the existence of books of account which are required to be audited under Section 44AB.

ITAT Quashes Rs. 1.50 Lakh Penalty Where No Books of Account Were Maintained

ITAT dismisses Revenue appeal, allowing assessee to invoke Rule 27 to support favourable CIT(A) order on limitation grounds

ITAT holds Section 68 conditions satisfied, quashes Section 56(2)(viib) addition, and sets aside CIT(A)’s income enhancement for lack of notice

Govt has granted income tax exemption to Dadra and Nagar Haveli Building and other Construction Workers Welfare Board u/s 10 of Income-tax Act.

The ITAT dismissed all four appeals filed by the Revenue and directed the AO to assess the accommodation entry turnover at 0.4%.

ITAT upheld TDS liability on rent and legal expenses, ruling Sections 201 and 40(a)(ia) independent, granted partial relief to the assessee.