Judgement

ITAT upheld the Section 11 exemption, holding that the delay in filing Form 10B is only a procedural lapse when the audit report is submitted before assessment completion.

ITAT Clarifies Form 10B Filing Is Directory, Not Mandatory for Section 11 Exemption; Favours Assessee

Since the reason was genuine and unintentional, the tribunal quashed the CIT(A)'s order.

ITAT Sets Aside Penalty Levied for Non-Compliance with Notices

ITAT deleted Rs.1.08 crore cash deposit addition after holding that an assessment framed as an AOP cannot stand when reopening was initiated in the name of an individual.

ITAT Holds Reassessment Invalid for Changing Status from Individual to AOP; Quashes Rs. 1.08 Crore Addition

Penalties under Sections 270A and 271AAC cannot survive independently when the underlying reassessment itself has been remanded to the AO

ITAT Sends Back Penalty Proceedings After Quantum Assessment Is Set Aside

Reassessment under Section 147 struck down where AO relied solely on Insight Portal inputs without linking assessee to price manipulation

ITAT Quashes Reopening Based on “Borrowed Satisfaction” in LTCG Accommodation Entry Case

Assessee fails to prove 2004 agreement for sale, but ITAT holds that Assessing Officer must refer valuation to DVO when stamp value is disputed

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ITAT Clarifies Form 10B Filing Is Directory, Not Mandatory for Section 11 Exemption; Favours Assessee

ITAT Sets Aside Penalty Levied for Non-Compliance with Notices

ITAT Holds Reassessment Invalid for Changing Status from Individual to AOP; Quashes Rs. 1.08 Crore Addition

ITAT Sends Back Penalty Proceedings After Quantum Assessment Is Set Aside

ITAT Quashes Reopening Based on “Borrowed Satisfaction” in LTCG Accommodation Entry Case

ITAT Orders DVO Reference in Section 50C Land Sale Case; Rejects Backdated Agreement Claim