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Section 14A disallowance applies only to investments yielding exempt income

June 9, 2024 1806 Views 0 comment Print

ITAT Mumbai rules no disallowance under Section 14A for investments not yielding tax-free income. Detailed analysis of DCIT vs Paranjapee Schemes case.

Taxability of secondment receipts: ITAT deletes Section 271(1)(c) & 270A Penalty

June 9, 2024 1857 Views 0 comment Print

Discover the ITAT Bangalore ruling on IBM Canada Limited vs. DCIT, where salary reimbursements of seconded employees were deemed non-taxable as fees for technical services.

ITAT deletes Section 69A Addition in the hand of intermediary in fund transfer

June 9, 2024 1284 Views 0 comment Print

ITAT Ahmedabad deletes ₹4.45 crore addition under Section 69. Money from JDS Industries not deemed as Global Ship Trade P. Ltd’s income. Detailed case analysis.

Jurisdictional error in Section 143(2) notice cannot be cured under section 292BB 

June 9, 2024 3036 Views 0 comment Print

Read the full text of the ITAT Delhi’s order on the invalid notice issued before filing ITR, leading to the quashing of the assessment order in the case of Mideast Integrated Steels Ltd Vs ACIT.

CIT(A) Obliged to Address Merits Despite Ex-Parte Order: ITAT Pune

June 9, 2024 1185 Views 0 comment Print

ITAT Pune rules that CIT(A) must address merits in appeals, not dismiss for non-prosecution. Key case: York Transport Equipment (India) Private Limited Vs ITO.

Section 292BB cannot cure defect in notice to deceased assessee  

June 9, 2024 1134 Views 0 comment Print

Read the detailed analysis of Late Lodaya Navalbai Vs ITO case by ITAT Bangalore. Learn why the reassessment proceedings were quashed and its implications.

Delay in SFT-005 Filing: Excuse of Server Issue Rejected by ITAT

June 9, 2024 834 Views 0 comment Print

Read about the case of Waghodia Urban Co. Op. Bank Limited vs. Director of Income Tax regarding a penalty levied under Section 271FA for delay in filing SFT-005, where the excuse of server issue was dismissed.

ITAT deletes Section 271(1)(c) penalty for Non-application of mind

June 9, 2024 1176 Views 0 comment Print

Read the detailed analysis of ITAT Ahmedabad’s order canceling penalty under section 271(1)(c) of the Income Tax Act. Co-owner status and lack of concealment discussed.

No Income arises due to Transfers of amount from Current to Deposit Account

June 9, 2024 531 Views 0 comment Print

ITAT Chennai’s order regarding the transfer from current to deposit account as non-income, and deletion of addition. Full text of the order provided.

TCS reported as payable in Audit Report cannot be added back to income u/s 43B

June 8, 2024 2211 Views 0 comment Print

ITAT Amritsar decision on Aay Kay Manufacturing Co. Vs ITO-CPC discusses TCS payable and Section 43B compliance, offering key insights for taxpayers.

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