ITAT Delhi remanded comparable selection, directed working capital adjustment, allowed risk adjustment, and partly allowed the transfer pricing appeal.
ITAT Mumbai held interest on borrowed funds used to acquire property is deductible under Section 48 for pre-2024 years and dismissed the Revenue’s appeal.
ITAT Kolkata held interest on loans used to acquire property is allowable under Section 48 for pre-AY 2024-25 years and deleted the disallowance.
ITAT Delhi upheld inclusion of interest on acquisition loan and related acquisition costs under Section 48, dismissing the Revenue’s appeal.
ITAT Pune held BSNL VRS-2019 compensation exempt under Section 10(10B), set aside CIT(A)’s orders, and directed refund after verification.
ITAT Pune held BSNL VRS-2019 compensation exempt under Section 10(10B) as retrenchment compensation and directed grant of refund after verification.
ITAT Jaipur held Section 80JJAA deduction cannot be denied where Form 10DA was uploaded before the due date and verified before processing, treating the delay as procedural.
ITAT Pune restricted estimated income to 3% of bank credits for a transport booking agent, upheld deletion of the Section 68 addition, and partly allowed the appeal.
Vodafone Idea Limited Vs ACIT (ITAT Mumbai) Conclusion: Only the net profit element embedded in the unaccounted sales was taxable and directed the AO to compute the addition by applying a 2% net profit rate, recognising both direct and indirect business expenses evidenced by the seized material. Held: Pursuant to a search, AO found incriminating material […]
ITAT Pune upheld Section 10(35) exemption on mutual fund dividend, affirmed deletion of the Section 68 addition, and dismissed the Revenue’s appeal.
