ITAT Delhi held that passing of final assessment order without complying with the terms of section 144C of the Income Tax Act, 1961 is untenable in law.
ITAT Surat held that addition under section 68 of the Income Tax Act towards unexplained cash credit unjustified as creditworthiness of the loan giver established and transaction undertaken through banking channel.
ITAT Delhi held that income from sale of shares/securities/PMS/Mutual Funds, etc. which were held as investment and not as stock-in-trade is taxable under the head capital gains and not under the head business income.
ITAT Surat held that invocation of revisional jurisdiction under section 263 of the Income Tax Act unsustainable as order passed by AO was neither erroneous nor prejudicial to the interest of the revenue.
ITAT Chennai held that delay of 6 to 9 years in filing of an appeal against levy of late fees u/s 234 with a plea that they were waiting for outcome of judicial decisions not condoned.
ITAT Delhi rules that payments by a builder to allottees as compensation for delays are not interest under the Income Tax Act, relieving them from TDS obligations.
Discover the ITAT Delhi’s ruling on the issuance of DIN numbers on tax communications and its importance in ensuring their validity.
Explore the ITAT Hyderabad’s decision in the Kancherla Medical Services vs. DCIT case, where the delay condonation appeal was dismissed due to public interest.
ITAT Chennai grants relief to Caterpillar India, allowing 60% depreciation on computer software as an integral part of computer systems. Details of the case.
ITAT Jaipur dismisses Chiranji Lal Bairwa’s appeal due to non-compliance with ITD notice for determining land value under section 50C of Income Tax Act. Details of the case and the ruling.
