Judgement

The ITAT  set aside the CIT(A)'s ex parte order and remanded derivative loss dispute for fresh adjudication on merits after granting the assessee a reasonable opportunity of hearing.

ITAT Sets Aside CIT(A)'s Ex Parte Order in Rs 1.78 Crore Bogus Derivative Loss Dispute After Finding Need for Fresh Hearing

The ITAT Chennai permits assessee to produce supporting documents under Rule 29 of ITAT Rules.

ITAT Allows Additional Evidence in Cash Deposit Case

The ITAT Chennai holds that penalty cannot be sustained merely on estimated additions and  directs deletion of penalties.

ITAT Deletes Penalty Under Section 271(1)(c) on Estimated Income

The ITAT deleted a Rs 4.42 lakh penalty under Section 270A, ruling that mere disallowance of delayed PF and ESI contribution deductions does not automatically constitute misreporting of income.

ITAT Deletes Rs 4.42 Lakh Penalty, Says PF and ESI Disallowance Does Not Amount to Misreporting

The ITAT restored the matter to the AO for fresh assessment after finding that the CIT(A) had passed an ex parte order without adjudicating all grounds of appeal on merits, violating the principles of natural justice.

ITAT Remands Tax Matter to AO After Finding Natural Justice Violation and CIT(A)'s Failure to Examine Appeal on Merits 

News

5paisa Capital secures Rs 40.03 crore relief in its AY 2023-24 income tax appeal, reducing the disputed disallowance to Rs 2.87 crore.

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ITAT Sets Aside CIT(A)'s Ex Parte Order in Rs 1.78 Crore Bogus Derivative Loss Dispute After Finding Need for Fresh Hearing

ITAT Allows Additional Evidence in Cash Deposit Case

ITAT Deletes Penalty Under Section 271(1)(c) on Estimated Income

ITAT Deletes Rs 4.42 Lakh Penalty, Says PF and ESI Disallowance Does Not Amount to Misreporting

ITAT Remands Tax Matter to AO After Finding Natural Justice Violation and CIT(A)'s Failure to Examine Appeal on Merits

5paisa Capital Wins Major Relief in Income Tax Appeal, Disallowance Cut to Rs 2.87 Crore