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Penalty under Section 271(1)(c) Deleted Due to Vague Notice and Absence of Specific Charge; Estimated Income Cannot Attract Penalty – Pramod Kumar Gupta vs. DCIT, Circle-5(1), Bhopal (ITAT)
Facts of the
CaseThe assessee, Pramod Kumar Gupta, filed his return
of income for Assessment Year 2010-11 declaring total income of ₹16,60,780. The
assessment was completed under Section 143(3) on 28.03.2013 by esti...
Payments to Specified Persons Held Reasonable; Section 11 Exemption Restored by Applying Principle of Consistency – ITO (Exemption) vs. Dudhharan Memorial Charitable Trust (ITAT Ranchi)
Facts of the
CaseThe assessee, Dudhharan Memorial Charitable Trust,
filed its return of income for Assessment Year 2017–18 declaring nil income.
The case was selected for limited scrutiny under CASS and notices unde...
Cash Deposits Explained Through Prior Withdrawals and Partnership Receipts; Section 69A Addition Deleted in Full – Pradeep Patni vs. ITO-5(2), Bhopal (ITAT Indore)
Facts of the
CaseThe assessee, Pradeep Patni, an individual engaged
in fabrication work and partner in M/s Hindustan Sales Industrial Corporation,
filed his return of income for Assessment Year 2016-17 declaring total...
Ex Parte Reassessment for AIR Cash Deposits Set Aside with Cost; Matter Remanded for De Novo Adjudication on Merits – Neha Tamrakar vs. ITO-5(1), Bhopal (ITAT)
Facts of the
CaseThe assessee, Neha Tamrakar, filed her return of
income for Assessment Year 2009-10 declaring income of ₹1,02,100. Based on AIR
information indicating cash deposits of ₹22,04,600 in a savings bank...
Rebate under Section 87A Allowable on Tax Payable under Sections 111A and 112 Despite New Tax Regime; Partial Relief Granted – Kanhaiya Lal Panchal vs. BPL-W-(91)(95), Ratlam (ITAT)
Facts of the
CaseThe assessee, Kanhaiya Lal Panchal, an individual,
filed his return of income for Assessment Year 2024-25 declaring total income
of ₹4,15,620, comprising salary income, short-term capital gains unde...
Delay of 508 Days in First Appeal Condoned Due to Counsel Negligence and COVID-19; Ex Parte Assessment under Section 144 Remanded for Fresh Adjudication – Kalpana Narware vs. ITO, Betul (ITAT)
Facts of the
CaseThe assessee, Kalpana Narware, filed her return of
income for Assessment Year 2017-18. The case was selected for scrutiny based on
information under Operation Clean Money relating to cash deposits dur...
Revision under Section 263 Sustained Where Assessee Remained Non-Participative; No Right to Remand When Assessments Were Also Ex Parte – Badri Singh Sisodiya vs. Pr. CIT, Indore (ITAT)
Facts of the
CaseThe assessee, Badri Singh Sisodiya, filed appeals
for Assessment Years 2013-14, 2014-15 and 2017-18 challenging three separate
revision orders passed under Section 263 by the Principal Commissioner of...
Orders Under Sections 201 and 143(3) Vitiated Where Impounded Records Are Not Supplied and Adequate Opportunity Is Denied: ITAT Lucknow in U.P. Civil Secretariat Primary Cooperative Bank Ltd.
Facts
of the CaseThe
assessee, U.P. Civil Secretariat Primary Co-operative Bank Limited, is a
cooperative society registered under the U.P. Co-operative Societies Act, 1912
and engaged in providing banking services t...
Addition Under Section 68 for Unexplained Share Application Money Upheld Where Creditworthiness and Genuineness Are Not Proved: ITAT Lucknow in MKC Traders Pvt. Ltd. v. DCIT
Facts
of the CaseThe
assessee, MKC Traders Private Limited, filed its return of income for
Assessment Year 2016-17 on 17.10.2016 declaring total income of ₹34,24,839. The
Assessing Officer completed assessment unde...
CIT(A) Order Passed in Mechanical Manner Set Aside for Violation of Natural Justice: Vimal Kumar Jain vs. ACIT, Udaipur (ITAT Jodhpur)
Facts of the
CaseThe assessee, Shri
Vimal Kumar Jain, filed his return of income for Assessment Year 2009-10. The
assessment resulted in multiple additions, including disallowance of ₹2,85,600
under Section 40A(3) ...