Judgement

ITAT remands the Section 68 addition of Rs.10 lakh to AO for verification of loan repayment; deletes profit estimation but upholds need for proper evidence.

ITAT Sends Back Section 68 Loan Addition for Fresh Verification After Assessee Claims Full Repayment

ITAT Ahmedabad Partly Allows Shalby Ltd.’s Appeal By Quashing The 263 Action On Share Valuation While Upholding The 14A Revision.

ITAT Ahmedabad Upholds 14A Revision but Quashes 263 Action on Share Purchase Valuation

The ITAT cited clause (ii) of Section 151, which specifies the higher authority whose approval is required before issuing a notice under Section 148, if three years have elapsed.

Notice Under Section 148 Issued After 3 Years Must be Approved by Higher Authority, Not PCIT

Notice Under Section 148 Issued After 3 Years Must be Approved by Higher Authority Not PCIT

Tribunal deletes addition for routine family expenses; capital account credit issue sent back for fresh verification.

ITAT: Household Funds Received From Husband Not Taxable as unexplained cash credits

Tribunal rules that requirement of bringing foreign exchange into India applies only; remands issues of exempt dividend and enhanced 10AA deduction for reconsideration.

ITAT Pune: Deduction under Section 10AA Cannot Be Denied for Late Realisation of Export Proceeds

Tribunal holds HUF cannot be donor under Section 56(2)(vii) but allows reconsideration under Section 10(2)

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ITAT Sends Back Section 68 Loan Addition for Fresh Verification After Assessee Claims Full Repayment

ITAT Ahmedabad Upholds 14A Revision but Quashes 263 Action on Share Purchase Valuation

Notice Under Section 148 Issued After 3 Years Must be Approved by Higher Authority Not PCIT

ITAT: Household Funds Received From Husband Not Taxable as unexplained cash credits

ITAT Pune: Deduction under Section 10AA Cannot Be Denied for Late Realisation of Export Proceeds

HUF not relative donor u/s 56(2)(vii) of Income Tax: ITAT