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All ITAT

No Assessment Order could be Passed in name of Non-Existent Entity after an intimation was given to AO

June 12, 2024 1545 Views 0 comment Print

ITAT Mumbai invalidates income tax assessment for a merged entity, emphasizing the legal principle against actions on non-existent entities.

Assessee cannot be Penalized for Purchasers’ Failure to Record Transaction

June 11, 2024 1116 Views 0 comment Print

Delve into the detailed analysis of the ACIT Vs Dewas Soya Limited case by ITAT Indore. Explore the crux of arguments, legal aspects, and conclusions drawn from the order.

AO Cannot Uniformly Apply 40% Expense Benchmark to Agricultural Revenue

June 11, 2024 528 Views 0 comment Print

Read the detailed analysis of Chaudhari Nanubhai Jeshingbhai (HUF) Vs DCIT case where the ITAT Ahmedabad ruled on reducing agricultural income based on expenditure claimed by the assessee.

ITAT deletes addition of interest based on principle of presumption regarding interest-free funds

June 11, 2024 411 Views 0 comment Print

The case of Eknath Ramkrisnanrao Salve Vs. Income Tax Officer (ITAT Pune) revolves around three primary issues: the taxability of subsidy received, disallowance of interest on interest-free advances, and disallowance of agricultural income on an estimated basis.

ITAT Rulings on TP Adjustments, ESOP Expenses & Section 14A Disallowance

June 11, 2024 357 Views 0 comment Print

Tribunal upholds CIT(A) decisions in DCIT Vs Astral Limited case, offering key insights on TP adjustments, ESOP expenses, and Section 14A disallowance.

ITAT Mumbai set aside Section 69 addition for alleged Unexplained Cash

June 11, 2024 924 Views 0 comment Print

Detailed analysis of the ITAT Mumbai ruling in Hemant Samarataji Lohar Vs CIT (Appeals-54), overturning addition of undisclosed income under section 69A.

Section 80M deduction allowed for dividend ‘distributed’ on or before due date

June 9, 2024 537 Views 0 comment Print

In Purnasons Pvt. Ltd vs. ITO, ITAT Kolkata rules on the allowance of deductions under Section 80M of the Income Tax Act when dividends are distributed within the due date.

Section 14A disallowance applies only to investments yielding exempt income

June 9, 2024 573 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 1116 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 912 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.

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