ITAT Panaji Judgments — December 2023

INCOME TAX OFFICER, WARD - 1, BELGAUM vs KISHORE ALIAS ROSHAN SURESH VERNEKAR, BELAGAVI

ITA 102/PAN/2022[2017-18]Status: Disposed19 Dec 2023AY 2017-18Dismissed

The Tribunal held that the assessee provided a proper explanation establishing a nexus between the loan withdrawals, cash deposits, and subsequent utilization for business purposes. The AO failed to bring on record evidence to disprove the genuineness of the loan or withdrawals.

SHANTI HOSPITAL,BELGAUM vs DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BELGAUM

ITA 20/PAN/2023[2015-16]Status: Disposed19 Dec 2023AY 2015-16Allowed

The Tribunal held that the denial of deduction was unjustifiable as the restriction under Section 80IB(11C) pertains to the construction of the hospital, not its subsequent use, provided it was built according to local authority approvals. The Tribunal also noted that the deduction was allowed in a prior assessment year.

SHANTI HOSPITAL,BELGAUM vs ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BELGAUM

ITA 18/PAN/2023[2013-14]Status: Disposed19 Dec 2023AY 2013-14Allowed

The Tribunal held that the denial of deduction was unjustifiable as the restriction under Section 80IB(11C) pertains to the construction of the hospital, not its subsequent use, provided it was built according to local authority approvals. The Tribunal also noted that the deduction was allowed in a prior assessment year.

REYNOLD EVENTS & PROMOTIONS,NUVEM vs ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 1, MARGAO

ITA 49/PAN/2023[2014-15]Status: Disposed19 Dec 2023AY 2014-15Remanded

The tribunal found that the NFAC passed a cryptic order without considering the assessee's submissions and the reconciliation statement. Therefore, the matter was remitted back to the NFAC for fresh consideration.

SHANTI HOSPITAL,BELGAUM vs DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BELGAUM

ITA 19/PAN/2023[2014-15]Status: Disposed19 Dec 2023AY 2014-15Allowed

The Tribunal held that the denial of deduction was unjustifiable as the restriction under Section 80IB(11C) pertains to the construction of the hospital, not its subsequent use, provided it was built according to local authority approvals. The Tribunal also noted that the deduction was allowed in a prior assessment year.

SHANTI HOSPITAL,BELGAUM vs DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1, BIJAPUR

ITA 21/PAN/2023[2016-17]Status: Disposed19 Dec 2023AY 2016-17Allowed

The Tribunal held that the denial of deduction was unjustifiable as the restriction under Section 80IB(11C) pertains to the construction of the hospital, not its subsequent use, provided it was built according to local authority approvals. The Tribunal also noted that the deduction was allowed in a prior assessment year.

MR. JOSEPH R FERNANDES,NAVELIM, SALCETE vs ACIT, CIRCLE - 1, MARGAO

ITA 55/PAN/2020[2008-09]Status: Disposed5 Dec 2023AY 2008-09Dismissed

The assessee's authorized representative requested to withdraw the appeals. The Revenue had no objection to the withdrawal. The Tribunal allowed the withdrawal.