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ITAT deletes addition made by CIT(A) without adequate justification 

July 9, 2024 852 Views 0 comment Print

Read the full text of the ITAT Mumbai order in the case of Krimesh Ramesh Divecha Vs DCIT for A.Y. 2015-16. Understand the assessment details and implications.

Dividend on Donated Shares to Corpus Fund Not Income from Other Sources

July 9, 2024 1347 Views 0 comment Print

Explore ITAT Delhi’s ruling on dividend income exemption under section 11 of IT Act 1961. Detailed analysis of judgment against Revenue appeal for AY 2021-22.

Capital Gain cannot be treated as Bogus without any concrete evidence

July 9, 2024 1479 Views 0 comment Print

Explore the case of Shaily Prince Goyal vs ITO (ITAT Mumbai) regarding cash credits from penny stock sales. Detailed analysis of Section 10(38), 45, and 69C under Income Tax Act, 1961.

Change in Law or Judgment by Larger Bench Not Grounds for Review

July 9, 2024 1485 Views 0 comment Print

Tribunal’s order cannot be recalled based on subsequent judgments, citing DCIT Vs ANI Integrated Services Ltd. Understand implications under Section 254(2) of Income Tax Act.

Gain from Sell of shares of ICL held for over 10 years is Genuine: ITAT Mumbai

July 9, 2024 723 Views 0 comment Print

Read the detailed analysis of Elara India Opportunities Fund Ltd Vs DCIT (ITAT Mumbai) regarding the addition under section 68 of the Income Tax Act on sale of shares of M/s. International Conveyors Ltd.

Notice uploaded on Portal but not mailed: ITAT directs reconsideration of Section 12A & 80G applications

July 9, 2024 963 Views 0 comment Print

Explore the ITAT Delhi’s ruling on Raghunandan Mishra Charitable Trust’s 12A and 80G registration applications. Analysis of CIT(Exemption)’s ex-parte order and IT portal notice issue.

Section 50C not applies to Approved Transfers by Statutory Authorities

July 9, 2024 882 Views 0 comment Print

Section 50C not applies if transfer of capital asset took place as per approval and under the supervision of the statutory authorities and after due process of inviting the public objections in respect of the said transactions.

Cricket Australia vs. ACIT: Live Transmission Fee Not Taxable as Royalty

July 9, 2024 660 Views 0 comment Print

Read the full text of the ITAT Delhi order on Cricket Australia vs. ACIT (International Taxation). Analysis includes why license fees from live cricket match transmissions held in Australia are not considered royalty under Indian tax laws.

Section 80P(2)(d) Deduction for Co-op Society on Interest from Co-op Bank: ITAT Delhi

July 9, 2024 1683 Views 0 comment Print

Delhi ITAT allows Section 80P(2)(d) deduction for Janta Adarsh Co-operative Thrift & Credit Society on interest earned from Co-operative Bank. Read the full judgment.

Notice Sent On Incorrect Email Constitutes Improper Service: ITAT Ahmedabad

July 8, 2024 1521 Views 0 comment Print

ITAT Ahmedabad rules improper service of notice due to incorrect email address in the case of LMP Motors Pvt. Ltd Vs ACIT, highlighting procedural lapses and fairness.

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