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Income tax Appellate Tribunal Latest

ITAT: Criticizes CIT(E)'s approach of pre-judging trust's charitable activities at registration state; Reinstates registration

May 21, 2025
  • In Favour of Revenue
  • Citation Number : TS-614-ITAT-2025(Bang)
  • Tax Payer : WeVysya
Income tax Appellate Tribunal

ITAT: Interest earned by co-op society from co-op bank investments deductible u/s 80P(2)(d)

May 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-613-ITAT-2025(Mum)
  • Tax Payer : Mulund Samata Co-operative Housing Society Ltd
Income tax Appellate Tribunal

ITAT: Allows Shree Kashi Math's corpus donation exemption citing consistency over res judicata

May 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-608-ITAT-2025(Mum)
  • Tax Payer : Shree Kashi Math Samasthan Varanasi
Supreme Court

SC: Resolves Division Bench split on Sec. 80-HHC deduction entitlement vis-a-vis Sec. 80-IA restriction

May 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-612-SC-2025
  • Tax Payer : Shital Fibers Limited
Income tax Appellate Tribunal

ITAT: Brokerage expenses incurred by real-estate co. qualify as selling costs, not capital expenditure

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-611-ITAT-2025(Mum)
  • Tax Payer : Bellissimo Healthy Constructions and Developers Private Limited
Income tax Appellate Tribunal

ITAT: Deletes penalty for not striking-off irrelevant portion in notice specifying Assessee’s offence

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-609-ITAT-2025(DEL)
  • Tax Payer : SBS Transpole Lilgistics pvt. Ltd
Income tax Appellate Tribunal

ITAT: Rejection of share-valuation by DCF method unwarranted given sufficient justification of projections

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-610-ITAT-2025(Mum)
  • Tax Payer : Madhurima International Private Limited
Income tax Appellate Tribunal

ITAT: Remands to AO for allowing brought forward loss subject to satisfaction of conditions

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-594-ITAT-2025(Mum)
  • Tax Payer : Sunjewels Private Limited
Income tax Appellate Tribunal

ITAT: Deletes penalty u/s 270A, cites discretion to impose penalty to be exercised judicially

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-593-ITAT-2025(Mum)
  • Tax Payer : Godfrey Lloyd Vaz
Income tax Appellate Tribunal

ITAT: Revenue ought to have approached ITSC over alleged incomplete income disclosure by Assessee

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-607-ITAT-2025(Mum)
  • Tax Payer : Jekin Enterprise
Income tax Appellate Tribunal

ITAT: Revenue's acceptance of two flats as one unit undermines penalty on third; Holds penalty as unsustainable

May 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-606-ITAT-2025(Mum)
  • Tax Payer : Kamini Krishna Kotak
Income tax Appellate Tribunal

ITAT: Summary dismissal of appeal for want of prosecution unjustified, CIT(A) to adjudicate on merits

May 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-605-ITAT-2025(HYD)
  • Tax Payer : Power Mech Infra Private Limited
High Court

HC: No substantial question of law in dispute over bank debts’ genuineness; Confirms addition

May 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-604-HC-2025(DEL)
  • Tax Payer : Harsha Associates Private Limited
Income tax Appellate Tribunal

ITAT: Limited scrutiny scope restricted to issues flagged; AO to seek approval of PCIT/CIT for expansion

May 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-603-ITAT-2025(Bang)
  • Tax Payer : Anantula Vijay Mohan
High Court

HC: Allows assessee's writ challenging rejection of DTVSV application citing loss carry forward issue

May 17, 2025
  • In Favour of Assessee
  • Citation Number : TS-602-HC-2025(DEL)
  • Tax Payer : IE VENTURE FUND
High Court

HC: Rejects Revenue's 'accommodation entry' allegation, relieves assessee from unending assessment merry-go-round

May 17, 2025
  • In Favour of Assessee
  • Citation Number : TS-601-HC-2025(DEL)
  • Tax Payer : GARG ACRYLIC LTD
Income tax Appellate Tribunal

ITAT: Reassessment order passed by non-jurisdictional AO sans transfer order u/s 127 invalid

May 17, 2025
  • In Favour of Assessee
  • Citation Number : TS-559-ITAT-2025(DEL)
  • Tax Payer : Navita Gupta
High Court

HC: Quashes reassessment proceedings for AY 2013-14, being time barred; Follows Ram Balram

May 17, 2025
  • In Favour of Assessee
  • Citation Number : TS-597-HC-2025(DEL)
  • Tax Payer : ADM Agro Industries Latur And Vizag Private Limited
Income tax Appellate Tribunal

ITAT: CIT(A)’s income enhancement powers limited to issues considered by AO in original assessment

May 17, 2025
  • In Favour of Assessee
  • Citation Number : TS-596-ITAT-2025(DEL)
  • Tax Payer : Toshiba Water Solutions Pvt. Ltd
High Court

HC: Directs de novo assessment due to inoperative VC link as Assessee’s request for personal hearing ignored

May 17, 2025
  • In Favour of Assessee
  • Citation Number : TS-598-HC-2025(BOM)
  • Tax Payer : Enigmatic Smile Rewards Pvt Ltd