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Accumulation of Income Without Form 10 — ITAT Allahabad Restores Matter for Verification of Compliance u/s 11(2) & 11(5) in Hindi Sahitya Sammelan vs. ITO (Exemption), Allahabad (ITA No.123/ALLD/2024, AY 2013-14)
Facts of the CaseThe assessee, a registered educational society, reported
gross receipts of ₹4,12,26,286 during the relevant assessment year. Out of this,
it spent ₹3,30,91,277 on revenue expenditure, ₹19,303 on ...
Reopening Based on Form 16A–P&L Discrepancy Upheld, but Addition for Alleged Undisclosed Receipts Deleted — ITAT Allahabad in DCIT Circle-1, Allahabad vs. M/s Deora Electric Works (ITA Nos.99 & 101/Alld/2020, AY 2009-10)
Facts of the CaseThe assessee filed its return declaring income of
₹17,40,230, and assessment was completed under section 143(3). Subsequently,
the Assessing Officer observed a discrepancy between contractual receipt...
Estimation of Profit After Rejection of Books u/s 145(3) — ITAT Allahabad Reduces Net Profit Rate from 2% to 0.7% in Livestock Trading Case of Ataul Mustafa vs. DCIT Circle-2, Allahabad (ITA No.84/ALLD/2023, AY 2013-14)
Facts of the CaseThe assessee was engaged in the wholesale business of
supplying livestock (buffaloes) to export houses. He reported sales of
₹17,10,18,753 with a declared net profit of ₹8,23,712, representing
app...
Additions Based on Disputed Bank Account Ownership Set Aside — ITAT Allahabad Orders Verification of Real Operator/Beneficiary in Amresh Kumar Singh vs. ITO Ward-2(1), Allahabad (ITA Nos.108 & 109/Alld/2024, AYs 2011-12 & 2012-13)
Facts of the CaseThe Assessing Officer received information regarding
substantial credits in a bank account maintained with Jammu & Kashmir Bank
in the name of M/s Elina Medi Services, allegedly a proprietary conce...
Reassessment u/s 147 & Addition u/s 69 on Auto-Sweep Fixed Deposits Set Aside — ITAT Allahabad Orders De Novo Assessment in Alfalah Educational & Welfare Society vs. Assessment Unit, ITD, Delhi (ITA No.144/ALLD/2024, AY 2015-16)
the assistance Facts of the CaseThe assessee society did not file a return of income for
Assessment Year 2015-16. The Income Tax Department received information that
the assessee had made time deposits amounting to ₹...
ITAT Allahabad Remands Additions for Capital Gains, Donation, and Cash Deposits: Smt. Ranjana Bajpai vs. DCIT — Fresh Opportunity to Explain Source of Funds
Facts of the CaseThe appeal arose from an order dated 22.12.2023 passed by
the Commissioner of Income Tax (Appeals), NFAC, for Assessment Year 2009-10.The Assessing Officer had reopened the assessment under
Section 147...
ITAT Allahabad Restores Registration Plea of Prayag Education Trust: School Activities Must Be Considered for Approval under Sections 12AB and 80G
Facts of the CaseThe appeals arose from two orders dated 28.06.2024 passed by
the Commissioner of Income Tax (Exemption), Lucknow, rejecting the Trust’s
applications for registration under Section 12AB and approval u...
ITAT Allahabad Remands Cash Deposit Addition and Deletes Penalty: Chandra Bali Singh vs. ITO — Ex Parte Assessment Set Aside for Fresh Hearing
Facts of the CaseThe Tribunal adjudicated two interconnected appeals filed by
the assessee for Assessment Year 2009-10 — one relating to the quantum addition
and the other concerning penalty under Section 271(1)(c).T...
ITAT Allahabad Remands Case of Asha Agarwal vs. ITO: Additions under Section 69A Set Aside Due to CIT(A)’s Reliance on Wrong Assessment Year
Facts of the CaseThe appeal arose from an order passed under Section 250 of
the Income Tax Act, 1961 dated 01.07.2024 for Assessment Year 2017-18.The Assessing Officer had completed the assessment under
Section 144 (be...
ITAT Allahabad Grants Fresh Opportunity in Reassessment Case: Nitrangan Singh Gwal vs. ITO — Cash Deposit Addition Remanded Due to Alleged Bank Fraud
Facts of the CaseThe appeal arose from an order passed under Section 250 of
the Income Tax Act, 1961 by the Commissioner of Income Tax (Appeals), NFAC,
dated 16.11.2023 for Assessment Year 2011-12.Reassessment proceedi...