ITAT Judgments

ITAT Upholds Penalty for Loan Repayment in Cash Despite Poor Cheque Clearance History

Income Tax - ITAT upholds penalty against taxpayer for cash repayment of loans, contravening Section 269T of Income-tax Act. Explore implications and alternatives....

ITAT allows Vodafone’s claim of depreciation on goodwill

Income Tax - In a landmark ruling, ITAT Mumbai grants Vodafone the right to claim depreciation on goodwill, clarifying that amendments by Finance Bill 2021 apply prospectively from AY 2021-22....

Recent Developments in International Taxation: Analysis and Implications

Income Tax - Explore the latest in international taxation: from judicial precedents to regulatory changes. Dive into cases, form updates, and MFN clause implications. ...

A Critical Appreciation of Ranchi Bench of ITAT in Rakesh Kr. Jha vs. ITO

Income Tax - Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting conflicting views among High Courts....

Interest income, cannot notionally be excluded while determining allowable of deduction of remuneration to partners

Income Tax - ITAT held that  income for purpose of ascertaining ceiling on the basis of book profit, the profit shall be as appearing in the P & L  a/c. The interest income, thus, cannot notionally be excluded while determining allowable of deduction of remuneration to partners u/s 40(b)(v) ....

ITAT Indore Hybrid Hearing Guidelines from October 9, 2023

Income Tax - Learn about hybrid hearing guidelines of Income Tax Appellate Tribunal (ITAT) Indore Bench, effective from October 9, 2023, offering options for virtual and physical hearings....

Mandatory e-Filing of Appeals before ITAT: Important Update

Income Tax - Supreme Court of India has recently issued an order requiring all revenue appeals before the Income Tax Appellate Tribunal (ITAT) to be filed exclusively through the e-filing mode. This directive aims to streamline the appeal process and improve efficiency. The Central Board of Direct Taxes (CBDT) has already instructed its field formatio...

Representation for Quick disposal of covered appeals etc. in ITAT

Income Tax - At present appeals are fixed in routine and may take one to two years period even for first hearing. it is humbly submitted that there should be priority disposal of the following categories of cases so that disposal can be fast and pendency can be reduce...

CBI Registers a Case against ITAT Member on Allegations of Possessing DA

Income Tax - CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal (ITAT) on the Allegations of Possessing Disproportionate Assets (DA). CENTRAL BUREAU OF INVESTIGATION CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal on the Allegations of Possessing Disproportionate Assets Press Release Dated: 02.0...

e-filing portal of Income Tax Appellate Tribunal launched

Income Tax - Law Minister Shri Ravi Shankar Prasad launches 'itat e-dwar', an e-filing portal of Income Tax Appellate Tribunal. Portal will enable online filing of Appeals, Applications, documents etc. by various parties. Cases of  Income Tax Appellate Tribunal should be integrated in National Judicial Data Grid: Shri Ravi Shankar Prasad...

AO cannot resort to estimation of gross or net profit without rejecting books

ACIT Vs Bokaro Power Supply Company Pvt. Ltd. (ITAT Delhi) - Interest on Business Deposits Not Taxable as Income from Other Sources; AO Cannot Estimate Gross Profit Without Rejecting Books of Accounts: ITAT...

No Section 80IC deduction if Audit was not completed on or before filing ITR

Securico Electronics India Ltd Vs ACIT (ITAT Delhi) - Securico Electronics vs. ACIT: ITAT Delhi disallows Rs.33,97,998 80IC deduction due to late Form 10CCB filing. Full text analysis & conclusion....

Toyota Financial: ITAT Directs Re-Adjudication on Taxability of NPAs’ Interest

Toyota Financial Services India Ltd. Vs ACIT (ITAT Bangalore) - Toyota Financial Services India Ltd vs ACIT: ITAT Bangalore provides relief, orders re-adjudication on taxability of NPAs' interest income. Full text analysis....

ITAT Delhi quashes reassessment initiated by AO on incorrect facts

Shri Anuj Chaudhary Vs ITO (ITAT Delhi) - ITAT Delhi quashes reassessment initiated by AO on incorrect facts. Full text analysis of Shri Anuj Chaudhary vs ITO case for AY 2009-10....

Business Transactions Shouldn’t be treated as Deemed Dividend: ITAT Delhi

ACIT Vs Adiish Jain (ITAT Delhi) - In ACIT Vs Adiish Jain, ITAT Delhi ruled on deemed dividend under IT Act, deleting the addition. Detailed analysis of the case & judgment....

Govt appoints Shri G. S. Pannu as President of ITAT

F. No. A-12023(1)/15/2016- Admn.III (LA) - (06/09/2021) - Central Government is pleased to appoint Shri G. S. Pannu, Vice-President of the Income Tax Appellate Tribunal, as President of the Tribunal in officiating capacity with effect from the forenoon of 6th September, 2021, till the regular President is appointed or until further orders, whichever is ear...

Appointment as ITAT Member- Disparity with CAs

Notification No. G.S.R. 458(E) - (30/06/2021) - Ministry of Finance notified rules for appointment of members in various tribunals on 12.02.2020 in which practice of judicial and accountant members was requiring 25 years of practice. In WP (C) 804 of 2020 dated 27.11.2020 Taking cognizance of this the Honourable SC in Madras Bar Association v. Un...

Notice issued by officer having no jurisdiction of assessee is null & void

(01/01/1970) - Bhagyalaxmi Conclave Pvt. Ltd. Vs DCIT (ITAT Kolkata) In the remand report, the AO clearly stated that notice u/s 143(2) of the Act was issued by DCIT, Circle-1, Kolkata. The ld. D/R could not controvert the contention of the assessee that no notice u/s 143(2) of the Act was issued by the DCIT-13(1)...

Extension of ad-hoc appointment of 177 officers to ACIT grade

Office Order No. 08 of 2021 - (08/01/2021) - Office Order No. 08 of 2021 Post facto approval of the Competent Authority is hereby conveyed for extension of term of ad-hoc appointments of the following officers to the grade of Assistant Commissioner of Income Tax for a period mentioned against their names:-...

SOP for hearing of cases at ITAT Chandigarh Benches from 04.08.2020

NA - (04/08/2020) - In continuation of the SOP (Standard Operating Procedure) dated 01.06.2020 the hearing of cases at 'ITAT Chandigarh Benches from 04.08.2020 onwards will be done through WEBEX/Google Meet for conducting Virtual Court Proceedings....

Recent Posts in "ITAT Judgments"

AO cannot resort to estimation of gross or net profit without rejecting books

ACIT Vs Bokaro Power Supply Company Pvt. Ltd. (ITAT Delhi)

Interest on Business Deposits Not Taxable as Income from Other Sources; AO Cannot Estimate Gross Profit Without Rejecting Books of Accounts: ITAT...

No Section 80IC deduction if Audit was not completed on or before filing ITR

Securico Electronics India Ltd Vs ACIT (ITAT Delhi)

Securico Electronics vs. ACIT: ITAT Delhi disallows Rs.33,97,998 80IC deduction due to late Form 10CCB filing. Full text analysis & conclusion....

Toyota Financial: ITAT Directs Re-Adjudication on Taxability of NPAs’ Interest

Toyota Financial Services India Ltd. Vs ACIT (ITAT Bangalore)

Toyota Financial Services India Ltd vs ACIT: ITAT Bangalore provides relief, orders re-adjudication on taxability of NPAs' interest income. Full text analysis....

ITAT Delhi quashes reassessment initiated by AO on incorrect facts

Shri Anuj Chaudhary Vs ITO (ITAT Delhi)

ITAT Delhi quashes reassessment initiated by AO on incorrect facts. Full text analysis of Shri Anuj Chaudhary vs ITO case for AY 2009-10....

Business Transactions Shouldn’t be treated as Deemed Dividend: ITAT Delhi

ACIT Vs Adiish Jain (ITAT Delhi)

In ACIT Vs Adiish Jain, ITAT Delhi ruled on deemed dividend under IT Act, deleting the addition. Detailed analysis of the case & judgment....

Addition for Consignment Sales Commission Unwarranted if same duly reflected in P&L account

ITO Vs Smt. Keshar Devi (ITAT Delhi)

ITAT Delhi rules that no addition shall be made when commission earned from consignment sale of foodgrains is reflected in P&L account. Detailed analysis of ITO Vs Smt. Keshar Devi....

ITAT Pune Directs Readjudication: 80G Exemption Application

Sanj Sawali Care Foundation Vs CIT (Exemptions) (ITAT Pune)

ITAT Pune remands Sanj Sawali Care Foundation's 80G exemption application to CIT(E) for reevaluation after failure to produce documentary evidence. Details here....

DCIT Vs Hindustan Thermal EPC: No Disallowance for Business Loss – ITAT Delhi

DCIT Vs Hindustan Thermal EPC Company Pvt Ltd (ITAT Delhi)

ITAT Delhi rules in favor of Hindustan Thermal EPC, disallowance of expenses deleted, detailed analysis of the case....

If Payees Accounted for Received Amounts & Paid Taxes, Assessee Not in Default under Sec. 201(1)

Satya Kiran Healthcare Private Ltd Vs ITO (ITAT Delhi)

Explore the detailed analysis of the Satya Kiran Healthcare Pvt. Ltd. vs. ITO case regarding TDS deduction disputes, its implications, and the ITAT Delhi's verdict....

Section 80G Registration Application cannot be rejected for inadvertent error

Sarda Mission Sevasram Viveknagar Vs CIT (Exemptions) (ITAT Kolkata)

Explore the Kolkata ITAT's verdict on the rejection of Sarda Mission Sevasram Viveknagar's application for 80G approval due to a wrong clause mention, highlighting rectifiability....

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