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CIT(A) Mistakes Appeal Against 143(1) Intimation as u/s 154 Order: ITAT Sets Aside Dismissal, Remands for Fresh Adjudication on 80P Deduction [Read Order]

Akhaigha T Josh

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an order by the Commissioner of Income Tax (Appeals) ( CITA (A) )...

ITAT Upholds Tax on Unsold Inventory as 'Income from House Property,' Directs Recalculation of ALV...

Relief to Toyota Boshoku: ITAT Rules Royalty Payments to Parent Company Justified, Rejects Dept’s...

LLP Income from Mutual Funds Exempt from Tax: ITAT Orders Verification

ITAT Rejects DVO Valuations, Ensures Equal Treatment Among Co-owners [Read Order]

ITAT Sets Aside CIT(A) Order, Grants Assessee Fresh Opportunity to Present Case due to Non-Receipt of Notices [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Bangalore Bench set aside the order passed by the Commissioner of Income Tax (Appeals), CIT(A) and granted the assessee, a fresh...

Notice u/s 148 Beyond Three Years Not Allowed for Escaped Income Below Rs.50 Lakh: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal(ITAT)ruled that a notice issued under Section 148 of the Income Tax Act,1961 beyond the prescribed three-year period is not valid when the escaped...

Eligibility of interest income for deduction u/s 80P(2)(a)(i): ITAT remits matter to AO [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) remitted the matter back to the Assessing Officer (AO) to verify the eligibility of interest income for deduction under Section...

ITAT Remands Case on Section 80P(2)(d) Deduction as AO rejected Claim, Holding SCDCC Bank as Co-operative Bank, not Society [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) remanded the case back to AO to reconsider his decision of rejecting the deduction claim made by the assessee under Section 80P(2)(d)...

Cash Deposits during Demonetization as Duly Explained: ITAT Deletes Rs. 15 Lakh addition u/s 69A [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 15 lakhs made under Section 69A of the Income Tax Act as the cash deposits that were made by the assessee...

CIT(A) Disposes Matter After 4-Year Gap Without Proper Hearing: ITAT Orders Fresh Adjudication [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) remanded back for fresh adjudication to the Commissioner of Income Tax (appeals)[CIT(A)] after a delay of four years for disposing of...

Challenge on FMV Assessed Based on Occupancy Certificate: ITAT Upholds CIT(A) Order in Absence of Contrary Evidence [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s order, dismissing the Revenue's appeal challenging the fair market value (FMV)...