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WhatsApp Image Cannot Be the Sole Basis for Additions: ITAT Surat

April 22, 2024 6744 Views 0 comment Print

Discover the significance of Surat ITAT’s ruling on digital evidence in tax cases. Learn how the case of Shanker Nebhumal Uttamchandani v. ACIT sheds light on the use of WhatsApp images in assessments.

ITAT Delhi Allows Bad Debts Claimed by Oriental Bank of Commerce

April 21, 2024 996 Views 0 comment Print

In a recent decision, ITAT Delhi permits bad debts claimed under section 36(1)(vii) by Oriental Bank of Commerce, setting aside CIT(A)’s order.

AO’s Failure in Recording Dissatisfaction Invalidates Section 14A Disallowance

April 21, 2024 1011 Views 0 comment Print

In the case of Krishnamurthy Thiagarajan vs ACIT (ITAT Mumbai), AO’s failure to record dissatisfaction u/s 14A led to ITAT allowing expenditure claim under Section 14A related to earning exempt income.

ITAT Delhi Allows Capital Gain Deduction for Additional Land Acquisition Costs

April 21, 2024 1089 Views 0 comment Print

Read the full text of the ITAT Delhi order in Prime Maxi Promotion Pvt. Ltd. Vs ACIT case, allowing deduction for additional compensation paid for land acquisition costs.

ITAT allows deduction of interest paid on Perpetual Non-Convertible Debentures (PNCD)

April 21, 2024 1296 Views 0 comment Print

ITAT Mumbai grants relief to Tata Steel Limited, allowing deduction of interest paid on Perpetual Non-Convertible Debentures (PNCD) under section 36(1)(iii) of the Act. 

ITAT Ruling on Taxability of FTS, in absence of specific clause in DTAA

April 21, 2024 2853 Views 0 comment Print

Learn about the tax dispute between Diamond Manufacturing Management and the Indian Revenue Authority, involving fees for technical collaboration and the absence of Permanent Establishment.

PCIT cannot assume revisional jurisdiction on debatable issue of Tax on Interest u/s 28 of land Acquisition Act

April 19, 2024 771 Views 0 comment Print

Analysis of Om Prakash Vs PCIT (ITAT Delhi) case reveals PCIT’s jurisdiction limitations on tax issues under Land Acquisition Act Section 28.

PCIT cannot assume revisional jurisdiction on debatable issue of Tax on Interest under land Acquisition Act

April 19, 2024 876 Views 0 comment Print

Explore the detailed analysis of Jai Parkash Vs PCIT (ITAT Delhi) case where the assessment jurisdiction dispute regarding interest received under section 28 of the Land Acquisition Act was resolved.

Assessment void if section 143(2) jurisdictional notice was issued beyond prescribed time limit

April 18, 2024 5475 Views 0 comment Print

Read about the case of Aark Infosoft Pvt. Ltd. vs. ACIT (ITAT Ahmedabad) where the assessment was deemed void due to a delayed Section 143(2) notice.

ITAT Upholds PCIT’s Decision on Erroneous Assessment Orders and Inadequate Inquiries in Tax Evasion Case

April 18, 2024 1035 Views 0 comment Print

ITAT upholds PCIT’s decision on erroneous assessment orders in tax evasion case. Changela’s appeals dismissed as inadequate inquiries led to erroneous orders.

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