On finding that the assessee has issued share application money and subsequently allotted shares which shows that the transactions are genuine and there is no material brought on record by tax.
While remanding the case back for re-adjudication, the Mumbai ITAT held that the prima facie onus would be upon the Assessee to substantiate its claim of non-granting of TDS credit, by.
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the contribution made by the assessee stock exchange to Core SGF is not in the nature of any deposit, contingency, or reserve..
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has quashed a pre-drafted penalty notice containing both concealed particulars of income and furnished inaccurate particulars of income.The.
The Mumbai ITAT pointed out that the AO and the CIT(A) has applied the concept of human probabilities to hold the scrip as penny stock without bringing on record as to how the assessee is involved in.