In a recent case, ITAT Guwahati ruled on ‘Income other than business/profession mismatch,’ setting aside the assessment order. Detailed analysis of the decision.
Explore the JCIT vs S.V. Balasubramani HUF case at ITAT Chennai. Learn why bonus payment disallowance under section 40A(3) of the Income Tax Act was challenged and the outcome of the appeal.
ITAT Chandigarh held that initiation of reassessment proceeding merely on the fact that AO has not carried out independent enquiries of confirmations from the creditors, without pointing out any deficiency or inaccuracy, cannot be a base to hold that order was erroneous in so far as prejudicial to the interest of revenue. Accordingly, reassessment unsustainable.
Explore the Bengal Tiger Line vs. DCIT case: ITAT Chennai rules in favor of the assessee, allowing benefits under India-Singapore DTAA for Vessel Handling Charges.
ITAT Delhi dismisses appeal, upholding taxability of interest received under Section 28 of Land Acquisition Act as income from other sources. Details of the case here.
In a recent appeal, Halo Technologies challenges the CIT(A)’s order on late fees under Section 234E of the Income Tax Act. ITAT Mumbai directs re-adjudication, citing lack of opportunity for the Assessee to explain the delay. Full text of the ITAT order dated 20.10.2023.
Explore ITAT Delhi’s decision in DCIT Vs Bharti Realty Holdings Ltd, allowing previously disallowed losses due to incorrect interpretation of Section 43(6) provisions.
Explore the ITAT Mumbai’s reversal of CIT(A)’s order in Laxman Mahadev Patil Vs ITO case for not passing a merit-based decision. Read the full text and analysis.
Read the detailed analysis of the ITAT Mumbai ruling in Standard Fiscal Markets Pvt. Ltd. vs DCIT case. No section 68 addition for conduit entity. Insights on tax implications.
ITAT Mumbai held that reference to TPO in respect of Specified Domestic Transaction (SDT) u/s. 92BA(i) has been omitted from the statue by the Finance Act, 2017 w.e.f. 01/04/2017. Hence, entire reference and transfer pricing adjustment is invalid.
