ITAT Bangalore Judgments — January 2019

The Tribunal held that the issue regarding interest income needs to be restored to the AO for fresh examination in light of Supreme Court and High Court judgments. For the deduction on agricultural implements, the Tribunal remanded the issue to the AO to examine the claim limited to profits derived from dealings with members.

The Tribunal held that the CIT(A) should have provided the assessee with notice regarding the ITP's qualifications and an opportunity to make alternative arrangements. Proceeding ex-parte without such notice was improper.

The Tribunal restored the matter to the Assessing Officer to verify the impact of the assessee's registration under the Karnataka Souhardha Sahakari Act and its eligibility for deduction under Section 80P.

The Tribunal set aside the CIT(Appeals)'s order and remanded the case for fresh consideration. This was done to provide the assessee an opportunity to be heard, as they should not suffer for the faults of others.