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Jagdish Bahadur Educational Society vs ITO (Exemption), Allahabad — ITAT Allahabad: New Exemption Claim u/s 10(23C)(iiiad) Not Permissible via Rectification u/s 154
Facts of the
CaseThe assessee society filed its
return declaring NIL income and claimed exemption under Sections 11 and 12,
despite not having registration under Section 12A at the relevant time. The
return was proce...
Compulsory Scrutiny Selection Without Mandatory Approval Held Invalid — ITAT Allahabad in Girdhar Gopal Rastogi v. CIT (ITA No. 162/ALLD/2019) | Assessment Quashed for Lack of Jurisdiction
Facts of the
CaseThe assessee’s case was selected for compulsory
scrutiny assessment, and notice under Section 143(2) was issued. Subsequently,
the Assessing Officer completed the assessment under Section 143(3).The...
Shri Neeraj Maheshwari v. ITO — ITAT Allahabad on Assessment Additions & Evidentiary Burden under the Income-tax Act (ITA No. 18/A/2021)
Facts of the
CaseThe assessee, Shri Neeraj
Maheshwari, filed his return of income which was subsequently selected for
scrutiny by the Assessing Officer (AO). During the assessment proceedings, the
AO examined certain...
Section 68 & 153A — No Addition Without Incriminating Material in Search Assessments: ITAT Allahabad (Dissenting Order) in ACIT vs. Sunshine Infraestate Pvt. Ltd., AY 2011-12
Facts of the
CaseThe assessee, a real estate
company, was subjected to search and seizure proceedings under Section 132 on
05.12.2013 as part of a group search. Pursuant thereto, notice under Section
153A was issued ...
Co-operative Bank Eligible for Deduction on Provision for Bad & Doubtful Debts — ITAT Allahabad in Zila Sahkari Bank Ltd. v. ACIT (ITA Nos. 135 & 136) under Section 36(1)(viia)
Facts of the CaseThe assessee, a District Co-operative Bank engaged
in banking activities, created a provision for bad and doubtful debts in
respect of advances made by its rural branches and claimed deduction under
S...
Millennium Academy vs. ITO — Section 40(a)(ia) Disallowance Deleted Where TDS Paid Before Return Due Date Following SC in Calcutta Export Company; Addition for Prospectus Sales Income Sustained (ITAT Allahabad)
Facts of the
CaseThe assessee, a partnership firm
engaged in providing distance education services in collaboration with a deemed
university, was assessed under Section 143(3).Two principal issues arose during
assess...
Search Assessment Valid After Abatement of Settlement Proceedings — ITAT Allahabad in Jeevan Jyoti Charitable Trust v. ACIT on Sections 153A, 153D & 245HA
Facts of the
CaseA search and seizure operation under Section 132 of
the Income-tax Act, 1961 was conducted on 29.05.2012 in the Jeevan Jyoti Group
of cases, including the assessee trust. Pursuant to the search, proce...
Capital Gain on Sale of Ancestral Agricultural Land Not Taxable Where Land Not a Capital Asset — ITAT Allahabad in Ganga Prasad v. ITO Interpreting Sections 2(14) & 45
Facts of the CaseThe assessee sold land described as agricultural
land during the relevant assessment year. The Assessing Officer treated the
land as a capital asset and brought the sale consideration to tax unde...
Addition for Unexplained Cash Deposit Deleted — ITAT Allahabad in Gulab Singh v. ITO Clarifies Scope of Section 69A and Burden of Proo
Facts of the CaseThe assessee, an individual, was subjected to
assessment proceedings during which the Assessing Officer noticed cash deposits
in the bank account for the relevant assessment year. The deposits we...
Addition under Section 68 Deleted Where Identity, Creditworthiness and Genuineness of Gift Proven — ITAT in Shanti Devi v. ITO
Facts of the
CaseThe assessee received a sum of money as a gift
through banking channels from an identifiable donor. During assessment
proceedings, the Assessing Officer treated the amount as unexplained cash
credit ...