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Fatehpur District Co-operative Bank Ltd. vs ACIT (ITAT Allahabad): Deduction for Provision for Bad & Doubtful Debts u/s 36(1)(viia) — Scope for Co-operative Banks
Facts of the CaseThe assessee, Fatehpur District Co-operative Bank Ltd., is
engaged in banking activities as a co-operative bank. Reassessment proceedings
were initiated under Section 147 read with Section 143(3) for t...
Sudhir Kumar Tiwari (HUF) vs ITO (ITAT Allahabad): Cash Deposit During Demonetization Explained as Past Savings — Addition u/s 69A Deleted
Facts of the CaseThe assessee, Sudhir Kumar Tiwari (HUF), filed its return of
income for Assessment Year 2017-18 declaring a modest income. The case was
selected for limited scrutiny through CASS on the issue of cash d...
Pramod Kumar Tiwari vs DCIT (ITAT Allahabad): Scope of Adjustment u/s 143(1) — Addition Based on Form 26AS Cannot Exceed Income Already Declared
Facts of the CaseThe assessee filed the return of income declaring business
income and claiming deductions. The assessee was engaged as a commission agent
and received commission income reflected in Form 26AS.While pro...
Anurag Kumar Gupta vs ITO (ITAT Allahabad): Penalty u/s 271(1)(c) Unsustainable Where Income Based on Form 26AS Mismatch — Scope of Sections 143(3), 194C & 194J
Facts of the CaseThe assessee, Shri Anurag Kumar Gupta, proprietor of M/s
Anurag Enterprises, was engaged in business activities and filed the return of
income for the relevant assessment year.During assessment proceed...
Reopening u/s 147 Invalid Without Independent Application of Mind — ITAT Delhi in K.D. Azmi vs DCIT | Additions u/s 68 & 69C Deleted
Facts of the CaseThe assessee was subjected to reassessment proceedings for
Assessment Years 2012–13 to 2014–15 based on information received from the
Investigation Wing alleging that the assessee had received acco...
ITAT Allahabad: Ex-Parte Assessment Confirmed by NFAC Set Aside for Violation of Natural Justice — Matter Remanded for Fresh Adjudication (Narendra Singh vs NFAC) [Sections 144/147/143(3)]
Facts of the
CaseThe assessee, Mr. Narendra Singh, filed an appeal
before the Income Tax Appellate Tribunal against the order passed by the
National Faceless Appeal Centre (NFAC), New Delhi, which had uphe...
Ex-Parte Faceless Appeal Order Set Aside for Violation of Natural Justice — ITAT Allahabad in Umrao Singh Smarak Samiti v. ITO-CPC — Sections 11, 12A, 143(1), 154
Facts of the
CaseThe assessee, a registered charitable society
engaged in educational activities, filed its return of income for AY 2018-19
declaring NIL income after claiming exemption under Sections 11 and 12 of the...
Condonation of Delay Allowed Due to Bona Fide Defect in Appeal Fee — ITAT Allahabad in Society for Welfare and Advancement of Rural Generation v. DCIT (CPC) (ITA No. 35/ALLD/2022) — Interpretation of Section 249 & Rule 45
Facts of the
CaseThe assessee filed an appeal against the order
passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal
Centre, for Assessment Year 2017-18. However, the appeal suffered from a
pr...
ITAT Allahabad: Addition u/s 69 Based on Third-Party Seized Ledger for Tenancy Compensation Remanded — Assessment u/s 153C in Smt. Neeta Nath & Madhurendra Nath vs ACIT
Facts of the
CaseA search under Section 132 of the Income-tax Act,
1961 was conducted on 05.12.2013 in the case of a third-party group. During the
search at the residence of another person, a document described as a l...
ITAT Allahabad: Addition u/s 69 for Alleged Undisclosed Compensation for Vacating Tenancy Based on Third-Party Seized Ledger Remanded — Assessment u/s 153C in Smt. Neeta Nath (L/H) & Madhurendra Nath vs ACIT
Facts of the
CaseA search and seizure operation under Section 132 of
the Income-tax Act, 1961 was conducted on 05.12.2013 in the case of a group
connected with real estate transactions. During the search at the reside...