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Ex Parte Reassessment under Sections 147/144 Set Aside with Cost; Matter Remanded for De Novo Adjudication on Merits in Massive Cash Deposit Case – Suresh Jat vs. ITO, Dhar (ITAT Indore)
Facts of the
CaseThe assessee, Suresh Jat, did not file a return of
income for Assessment Year 2016-17 despite having taxable income. Based on
analysis of financial transactions reflected in the Income-tax Department
...
Ex Parte Reassessment and Faceless Appellate Dismissal Set Aside for Lack of Merits-Based Adjudication; Matter Remanded for De Novo Assessment – Shivalaya Engineering Works vs. ITO, Bhopal (ITAT Indore)
Facts of the
CaseThe assessee, Shivalaya Engineering Works, filed
its return of income for Assessment Year 2018-19 declaring total income of ₹19,52,800.
Based on information received through the Risk Management Stra...
Addition under Section 69A on Demonetisation Cash Deposits Set Aside Due to Incomplete Appreciation of Evidence; Matter Remanded for Fresh Adjudication – Santosh Bai Bhatevra vs. ITO Ward-1, Ratlam (ITAT)
Facts of the
CaseThe assessee, Santosh Bai Bhatevra, a retail
trader, filed her return of income for Assessment Year 2017-18 declaring total
income of ₹3,73,790. The case was selected for scrutiny under CASS on the ...
Revision under Section 263 Valid Where Assessing Officer Failed to Examine Mandatory Penalty under Section 271AAC on Surrendered Income Taxed under Section 115BBE – Radheshyam Agarwal vs. PCIT (Central), Bhopal (ITAT)
Facts of the
CaseThe assessee, Radheshyam Agarwal, proprietor of M/s
Laxmandas Radheshyam Saraf, is engaged in the business of trading in gold and
silver ornaments and money lending. A survey under Section 133A was co...
Share Capital and Share Premium Addition under Section 68 Deleted After Establishing Identity, Creditworthiness and Genuineness – Kameshwar Alloys and Steels Pvt. Ltd. vs. ACIT, CC-1, Ranchi (ITAT)
Facts of the
CaseThe assessee, Kameshwar Alloys and Steels Pvt.
Ltd., filed its return of income for Assessment Year 2014–15. The case was
initially selected for scrutiny on the issue of share capital and share prem...
Ex Parte Reassessment Based on AIR Cash Deposits Set Aside; Matter Remanded to CIT(A) for Consideration of Sale of Agricultural Land Evidence – Radhakishan vs. ITO-2, Dewas (ITAT Indore)
Facts of the
CaseThe assessee, Radhakishan, an agriculturist and
senior citizen residing in a remote village, filed no return in response to
notice issued under Section 148 dated 24.03.2017 for Assessment Year 2010-11...
Ex Parte Reassessment and Appellate Dismissal Set Aside; Matter Restored for Adjudication on Merits in Capital Gains Case – Jagdish Kumar Mahto vs. DCIT/ACIT, Circle-1, Ranchi (ITAT)
Facts of the
CaseThe assessee, Jagdish Kumar Mahto, an individual,
filed his return of income for Assessment Year 2016–17 declaring total income
of ₹10,06,440. During assessment proceedings, the Assessing Officer ...
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...