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ITAT Allows Section 80P Deduction to Co-operative Credit Society Where No Addition Made on Reopened Issues
8+ hour, 10+ min ago (108+ words) The ITAT Ahmedabad rules AO Cannot make fresh addition on an issue unconnected with reasons recorded for reassessment. ITAT Deleted Disallowance of Rs 11.06 Lakh CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs Mutual Fund…...
ITAT Sets Aside Rs 11.48 Crore Capital Gains Addition, Remands Case for Fresh Adjudication After Finding Lack of Hearing Opportunity
1+ week, 5+ day ago (147+ words) The ITAT Bench has set aside a Rs 11.48 crore addition on securities and mutual fund transactions, directing the AO to conduct a fresh assessment after proper verification and a meaningful hearing. ITAT Lucknow Sets Aside Rs 11.48 Crore Capital Gains Addition…...
ITAT Upholds BSNL VRS Tax Relief, Applies Rs 25 Lakh Leave Encashment Limit Retrospectively
1+ week, 6+ day ago (88+ words) ITAT directs the AO to grant exemption on BSNL VRS retrenchment compensation and apply the revised Rs 25 lakh leave encashment exemption limit retrospectively. ITAT Remands Unexplained Cash Credit Addition to AO for Fresh Adjudication Premium ITAT Sets Aside CIT(A) Relief…...
75-Year-Old Agriculturist Gets Relief as ITAT Rejects Retrospective 60% Tax Rate on Rs 11.86 Lakh Unexplained Cash Deposits
2+ week, 1+ day ago (123+ words) ITAT holds that the enhanced 60% tax rate under Section 115BBE cannot apply to unexplained income relating to FY 2016-17 and directs recalculation at 30%. ITAT Directs AO to Recompute Tax Liability Using Applicable 30% Rate ITAT Holds 60% Rate Under Section 115BBE Inapplicable to Pre-April 2017 TransactionsPremium…...
ITAT Holds 60% Rate Under Section 115BBE Inapplicable to Pre-April 2017 Transactions
2+ week, 1+ day ago (116+ words) The ITAT Hyderabad has condoned 75-Year-Old Agriculturist’s 511-Day Delay. ITAT Directs Reworking of Tax Liability on Section 69A Addition ITAT Revives Income Tax Appeal Dismissed Over 161-Day Delayed Filing, Imposes Rs 1,000 CostPremium GST Council To Meet On September 12 In New Delhi;…...
ITAT Deletes Section 69 Unexplained Investment Addition After Father-in-Law???s ITR Establishes Source of Stamp Duty Payment
3+ week, 2+ day ago (123+ words) ITAT deleted a Section 69 addition after accepting the assessee’s father-in-law’s ITR as documentary evidence establishing his identity, financial capacity and genuineness of the source. RBI Imposes Rs 8.10 Lakh Penalty on Finance Firm Over KYC, Governance Lapses ICAI Releases New Guidance…...