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Rectification under Section 154 Permissible for Exemption Claim u/s 10(38): ITAT Allahabad Restores LTCG Taxation Dispute for Fresh Examination — Dr. Aroti Ghosh v. ITO
Facts of the CaseThe assessee’s case was selected for scrutiny based on AIR
information regarding share transactions amounting to ₹59,84,641. The return of
income for AY 2008-09 was filed declaring total income of ...
Ex-Parte CIT(A) Order & Best-Judgment Assessment u/s 144 Set Aside for Lack of Proper Opportunity — ITAT Allahabad Remands Matter for De-Novo Assessment | Sanjay Kesarwani v. ITO (ITAT)
Facts of the CaseThe assessee, an individual trader, filed appeals against the
orders of the Commissioner of Income Tax (Appeals) for Assessment Years 2008-09
and 2009-10, as well as against the confirmation of penalty...
Unexplained Cash Credit on Cash Deposits from Dairy Business – ITAT Delhi Partly Sustains Addition under Section 68 in Vinay Kumar vs ITO (AY 2006-07)
Facts of the Case
The assessee, Vinay Kumar, proprietor of M/s Sunshine Enterprises, carrying on
the business of sale of dairy products, had deposited cash of Rs. 12.50 lakh in
his bank account during Assessment Year ...
ITAT Allahabad: Ex-Parte NFAC Order Set Aside — Matter Remanded Where Legal Grounds on Reassessment, Limitation and Section 69A Addition Not Examined | Jitendra Kesarwani vs ITO (AY 2010-11)
Facts of the
CaseThe assessee, Jitendra Kesarwani, was subjected to
reassessment proceedings after information was received regarding a cash
deposit of Rs. 10,00,000 in his bank account during Financial Year 2010-11. ...
ITAT Allahabad Remands Section 69A Addition on Demonetization Cash Deposits — Agricultural Income & KCC Source to Be Verified | Mohammad Irfan Jafri vs ITO (AY 2017-18)
Facts of the
CaseThe assessee, Mohammad Irfan Jafri, did not file a
return of income for Assessment Year 2017-18. During verification under
“Operation Clean Money”, the Department found that the assessee had depos...
ITAT Allahabad: After Rejection of Books u/s 145(3), Gross Profit Must Be Estimated on Reasonable Basis — Average of Past and Subsequent Year GP Adopted | Jai Bajrang Gur Bhandar vs ITO (AY 2017-18)
Facts of the
CaseThe assessee, Jai Bajrang Gur Bhandar, a
partnership firm engaged in wholesale trading of gur, sugar, dal and similar
commodities, filed its return of income for Assessment Year 2017-18 declaring
inc...
ITAT Allahabad Remands Additions on Section 50C, Depreciation & 26AS Mismatch — Ex-Parte NFAC Order Set Aside for De Novo Assessment | Rajesh Kumar Singh vs ITO (AY 2016-17)
Facts of the
CaseThe assessee, Rajesh Kumar Singh, filed his return
of income for Assessment Year 2016-17 declaring total income of Rs. 4,05,650.
The case was selected for limited scrutiny to examine (i) correctness o...
ITAT Allahabad Sets Aside Ex-Parte Dismissal in Demonetization Cash Deposit Case — Matter Remanded for Fresh Decision on Merits | Sunil Kumar vs ITO (AY 2017-18)
Facts of the
CaseThe assessee, Sunil Kumar, was subjected to
assessment proceedings after information was received that he had deposited
cash of Rs. 11,95,500 during the demonetization period. A notice under Section
...
Ex-Parte NFAC Dismissal Set Aside for Non-Compliance — ITAT Allahabad Grants Fresh Opportunity in Pawan Tiwari vs. ITO, Sultanpur (AY 2017-18)
Facts of the CaseThe assessee, an individual, filed his return of income on
24.05.2019 declaring total income of ₹7,96,783 for Assessment Year 2017-18.The assessment was completed under Section 144 of the Income
Tax ...
Ex-Parte NFAC Order Set Aside for Non-Compliance — ITAT Allahabad Grants Fresh Opportunity to Co-operative Society in Malwan Kisan Sewa Sahkari Samiti Ltd. vs. ITO, Fatehpur (AY 2017-18)
Facts of the CaseThe assessee, a co-operative society registered under the
Uttar Pradesh Cooperative Societies Act, 1965, filed its return of income for
Assessment Year 2017-18 declaring NIL income.The Assessing Office...