Weekly DT Digest

ITAT: Quashes reassessment; Information from Mauritian Authority insufficient to prove unaccounted money allegation
Chandigarh ITAT dismisses Revenue’s appeal against CIT(A) order quashing re-assessment beyond 4 years, based on information received from

ITAT: 'Bonafide belief' valid reason for TDS non-deduction on salary; Rejects Revenue's Ely Lilly reliance
Bangalore ITAT quashes Sec. 201(1)/(1A) proceedings on assessee-employer (a State Power Transmission company, ‘KPTCL’) with respect to TDS

ITAT: Fresh evidence after passing ITAT order not ground to entertain miscellaneous petition
Mumbai ITAT dismisses Revenue’s Miscellaneous Application against ITAT order quashing assessment u/s 153C in absence of proper satisfaction

HC: Quashes assessment u/s 153C absent proper satisfaction note by AO of searched-person
Karnataka HC quashes assessment u/s 153C absent proper satisfaction note prepared by AO of searched person; HC notes that for

HC: Upholds reopening beyond 4 years; Additional material indicates lack of true disclosure
Bombay HC upholds reopening of assessment beyond 4 years to make unexplained cash credit addition, observes that merely

HC: AO to apply his discretion for deciding stay application and water-down pre-deposit condition
Delhi HC holds that AO has to apply its mind and decide the Stay Application on merits without

HC: Quashes reassessment notice u/s 147 issued on last day of time-limit expiry
Bombay HC quashes notice u/s 147 issued on assessee-company (engaged in manufacturing and processing of frozen meat) for

ITAT: CIT(A) cannot enhance income on 'new source' not considered in assessment proceedings
Delhi ITAT deletes addition u/s 68 made on individual-assessee during AY 2014-15, rules that when the matter in

ITAT: Allows Sec.54 exemption for amount invested towards construction before sale of house-property
Delhi ITAT allows assessee's claim of exemption u/s 54 towards investment made in under-construction property before the sale

ITAT: Sec.43B not applicable to contribution to Environment Relief Fund since assessee-insurer acted as collecting agent
Pune ITAT deletes disallowance made by the AO for contribution by the assessee (Insurance company) to Environment Relief