ITAT Delhi held that as shares were acquired prior to 01.04.2017, gain derived from sale of such equity shares is exempt under Article 13(4) of India-Mauritius DTAA.
ITAT Surat held that addition under section 56(2)(x) on the Income Tax Act unsustainable as addition made in casual manner without considering payment made on account of various amenities.
ITAT Mumbai held that as Form No. 67 has been filed by the Appellant before the processing the return of income under Section 143(1) of the Income Tax Act, foreign tax credit is duly eligible.
ITAT Kolkata held that disallowance of loss claimed by the assessee under section 41 of the Income Tax Act in a hypothetical way is unjustified and accordingly matter set aside for afresh examination.
Analyzing the case of Sanjay Bajpai Builders Vs ACIT and the ITAT Raipur’s ruling on disallowance u/s 40(a)(ia) of the Income Tax Act for failure to deduct TDS on interest to NBFCs.
Delve into the Prem Naraindas Raney Vs DCIT (ITAT Mumbai) case to understand the complexities surrounding the set-off of short-term capital loss against gains under section 70 and 71 of the Income Tax Act, 1961.
Learn about the ITAT Delhi’s ruling on FIL India Business & Research Services Pvt Ltd Vs ACIT, where technical issues on EPFO’s portal excused a PF delay.
ITAT held that income for purpose of ascertaining ceiling on the basis of book profit, the profit shall be as appearing in the P & L a/c. The interest income, thus, cannot notionally be excluded while determining allowable of deduction of remuneration to partners u/s 40(b)(v) .
ITAT Chandigarh held that mere non-accounting of the expired stock as part of the opening stock would not have any impact on the profitability. Accordingly, addition thereof is liable to be deleted.
ITAT Raipur held penalty imposed u/s. 270A of the Income Tax Act clearly falls within the realm of orders appealable before the CIT(Appeals) u/s. 246A of the Income Tax Act.
