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Unexplained Deposits are Cash Sales during Demonetization, Only 8% is Income: ITAT Allows Income Tax Appeal Partly [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has partly allowed an appeal, holding only 8% of unexplained cash deposits as income. Since...

ITAT Estimates Agricultural Expenditure at ₹22.37 Lakhs on Onion Sale, Rejects 35% of CIT(A)'s...

Credit Card Payments Treated as Unexplained Investment u/s 69C:ITAT Deletes ₹21.69 Lakh Addition

Relief for Vodafone: ITAT Allows Inclusion of Foreign Exchange Gains as Operating Income in Transfer...

Non-Payment of Advance Tax Not Ground for Appeal Dismissal: ITAT Remands Case for Fresh Adjudication...

Assessment Order Served via Email Landed in Spam Folder: ITAT Condones 191-Day Delay in Filing Appeal [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) condoned a delay of 191 days in filing the appeal before the Commissioner of Income Tax (Appeals) [CIT(A)] after noting that the assessment...

ITAT Quashes Assessment Order as Notice u/s 143(2) Sent to Wrong Address [Read Order]

The Income Tax Appellate Tribunal (ITAT) Pune Bench has quashed the assessment order passed against the assessee on the ground that the notice under Section 143(2) of the Income Tax Act, 1961 was...

Reassessment without Tangible Material Invalid: ITAT deletes Rs.10 Lakh Cash Credit Addition [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of Rs. 10 lakh made under Section 68 of the Income Tax Act, 1961, holding that the reassessment was carried out...

ITAT Directs Reconsideration of School's Tax Exemption Denial, Cites Lack of Proper Hearing [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has set aside an order passed by the Commissioner of Income Tax (Exemption), Pune, which had denied tax exemption registration under Section 12AA...

Stamp Duty Valuation Dispute: ITAT Condones 111-Day Delay in Interest of Fairness, Restores Matter [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) condoned a 111-day delay in filing an appeal citing the interest of fairness and restored the matter for fresh adjudication. Vaibhav...

Interest Income from Cooperative Bank Investments Eligible for Deduction u/s 80P(2)(d): ITAT [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) ruled that interest income earned from investments in cooperative banks qualifies for deduction under Section 80P(2)(d) of the Income Tax...

Taxation of AOP: ITAT Allows Normal Tax Rates for Charitable Trust, Sets Aside CIT(A)’s Order [Read Order]

The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that a charitable trust, classified as an Association of Persons ( AOP ), should be taxed at normal rates instead of the maximum...