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ITAT Allahabad: Only Peak Credit Taxable on Unexplained Cash Deposits — Matter Remanded for Verification of Third-Party Deposits | Irfan Ahmad v. ITO (ITA No. 26/ALLD/2022) | Sections 147, 148, 44AD
Facts of the CaseThe assessee had substantial cash deposits
exceeding ₹18 lakh in his bank account during the relevant assessment year. No
return of income was originally filed. Based on AIR information regarding the...
ITAT Allahabad: Auditor’s Error in Form 3CD Cannot Trigger Addition When Income Properly Disclosed — Brajesh Agrawal v. Asst. DIT (ITA No. 3/ALLD/2023) | Section 44AB & Computation of Income
Facts of the
CaseThe assessee’s accounts were subjected to tax audit
under Section 44AB, and the auditor furnished Form No. 3CD. In Clause 16(d) of
the audit report, certain income was reported in a manner suggestin...
Taxability of Capital Gain — Year of Transfer, Sale Deed Evidence, and Addition under Section 143(3) — ITAT Allahabad in Ramesh Chandra Vaish vs. ACIT (AYs 2014–15 & 2015–16)
Facts of the
CaseThe assessee filed appeals before the Income Tax
Appellate Tribunal against orders of the Commissioner of Income Tax (Appeals)
for Assessment Years 2014–15 and 2015–16. The dispute arose from addi...
Addition on Excess Silver Stock Based on Departmental Valuer’s Purity Estimate — Validity of Survey Surrender, Retraction, and Rejection of Books under Sections 133A, 145(3) & 143(3) — ITAT Allahabad in DCIT vs. M/s Mahesh Chandra Vishnu Chandra Sarraf (AY 2012–13)
Facts of the
CaseThe assessee, a partnership firm engaged in the
business of trading in silver ornaments and articles, was subjected to a survey
under Section 133A at its business premises. During physical verificatio...
Ex-Parte CIT(A) Order on Reopening u/s 147 & Denial of Section 54F Exemption Set Aside — ITAT Allahabad Orders Fresh Adjudication under Section 250(6) | Devendra Singh v. DCIT (ITA No. 67/Alld/2023)
Facts of the CaseThe assessee filed his original return declaring income of
₹42,46,330, which was assessed under Section 143(3). Subsequently, the
Assessing Officer observed that the assessee had sold land and claime...
Reasoned Order Mandatory — ITAT Allahabad Sets Aside Ex-Parte CIT(A) Confirmation of Addition for Non-Application of Mind u/s 250(6) | Vipin Kumar Pandey v. ITO (ITA No. 60/Alld/2023)
Facts of the CaseThe assessee filed an appeal before the CIT(A) challenging
additions made by the Assessing Officer. The CIT(A) issued notices directing
the assessee to submit replies; however, due to absence of respon...
CIT(A) Cannot Dismiss Appeal Ex-Parte Without Reasons — ITAT Allahabad Sets Aside Order for Non-Compliance with Section 250(6) | Pankaj Gaur v. ITO (ITA No. 59/Alld/2023)
Facts of the CaseThe assessee filed an appeal before the CIT(A) against the
assessment order. The CIT(A) issued notices on several occasions; however, due
to absence of response from the assessee, the appeal was dismis...
Income Must Be Taxed in the Hands of the Right Person — ITAT Allahabad Sets Aside Addition Based on Firm’s Bank Account; Remand u/s 44AD & 144 | Manju Singh v. ITO (ITA No. 27/Alld/2023)
Facts of the CaseThe assessee, an individual and partner in a firm (M/s. Samar
Brick Field), did not file a return of income as her income from the firm was
below the taxable limit. Information received by the Assessin...
Assessee Cannot Be Penalized for Counsel’s Default — ITAT Allahabad Sets Aside Ex-Parte CIT(A) Order for Violation of Section 250(6) | Devlan Sadhan Sahkari Samiti Ltd. v. ITO (ITA No. 49/Alld/2023)
Facts of the CaseThe assessee, a cooperative society, filed an appeal before
the CIT(A) against the assessment order. The CIT(A) issued multiple notices
but, due to absence of response, proceeded to dispose of the appe...
Ex-Parte CIT(A) Order Passed Without Adequate Opportunity Set Aside — ITAT Allahabad Remands Appeal for Fresh Decision u/s 250(6) | Bal Bharti Nursery School v. ACIT/ITO (ITA No. 65/Alld/2023)
Facts of the CaseThe assessee filed an appeal before the CIT(A) against the
assessment order. The CIT(A) issued notices on two occasions but, due to
absence of response from the assessee, dismissed the appeal ex-parte....