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ITAT Rajkot

ITAT allows 10% of Cash Deposits as Taxable Income in Absence of Evidence of Source u/s 69A of IT Act [Read Order]

Killamsetty Rasmita

The Rajkot bench of the Income Tax Appellate Tribunal (ITAT) has allowed only 10% of the cash deposits made by an assessee as taxable income, citing...

Claim of Deduction u/s 54F of Income Tax Act rejected due to late filing of revised ROI: ITAT...

Rectification Application cannot be Rejected in case of Apparent and Obvious Mistakes in ITR: ITAT...

Tax Residency in UAE Eligible for Benefit of Indo-UAE Treaty: Exemption cannot be Denied Merely...

Income Tax Deduction u/s 80P cannot be denied for Non-filing of ITR within Due Date: ITAT [Read...

Denying Exemption u/s 80P of IT Act merely on ground of Belated Filing of Return Is not Justifiable [Read Order]

While a bench of appeal filed by the assessee the Rajkot bench of Income Tax Appellate Tribunal (ITAT) has held that Denying exemption under section 80P Income Tax Act 1961 merely on ground of...

No Interest u/s 234A and 234B of Income Tax Act Beyond Date of Self-Assessed Tax: ITAT

The Rajkot Bench of Income Tax Appellate Tribunal (ITAT) has no interest under Section 234A and234B of the Income Tax Act 1961 shall be imposed beyond the date of self-assessed tax. Theassessee...

Checking, Cross-checking and Reconciliation of Data was A Very Lengthy Process and a Valid “Reasonable Cause” for Non-filing of ITR, No Penalty: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot Bench, has recently, in an appeal filed before it, held that there is no penalty as checking, cross-checking and reconciliation of data was a very...

Road Construction Expenses Incurred to provide Easy and Smooth Access from Highway to Factory Allowable as Business Expenditure: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot Bench, has recently, in an appeal filed before it, held that road construction expenses incurred to provide easy and smooth access from highway to...

Notional Income from Interest-Free Loans is not taxable in the absence of a specific provision in the Income Tax Act: ITAT [Read Order]

The Rajkot bench of the Income Tax Appellate Tribunal( ITAT ) has held that notional income from interest-free loans is not taxable in the absence of a specific provision in the Income Tax Act, 1961....

Non Participation in Income Tax Assessment Proceedings Due to Disputes Between Partners: ITAT deletes Penalty u/s 271(1)(b) [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot Bench, has recently, in an appeal filed before it, held that when non- participation of the firm in the assessment proceedings is due to dispute...

Revision u/s 263 on Ground of Failure to Collect TCS Invalid during Pendency of First Appeal: ITAT [Read Order]

Allowing the appeal of the assessee, the Rajkot Bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the revision by the Principal Commissioner of Income Tax (PCIT) when the first...

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