Insights into ITAT Delhi’s verdict on the denial of income tax deduction due to belated returns under Section 139(4) of the Income Tax Act for AY 2019-20.
Analysis of ITAT Delhi’s ruling in DCIT vs Centum Learning Ltd on debts claim, business nexus & re-adjudication. A critical look at the order dated 12.04.2019.
ITAT Ahmedabad deletes disallowance on leave encashment for employees in Department of Telecommunication under Section 10(10AA) of Income Tax Act. Read full order
ITAT Kolkata rules no disallowance on bonus outstanding paid before the due date of filing return, in the case of DCIT Vs Medica Hospitals Pvt Ltd. Details inside.
ITAT rules no penalty u/s 271D for exceeding cash transaction limit on loans taken through Account Payee Cheques. Read the full case of Sanjaykumar Patel.
ITAT Ahmedabad rules that Section 271D penalty doesn’t sustain if a loan is accepted through banking channels, relating to A.Ys. 2013-14 & 2016-17.
ITAT Chennai declares Section 234E late fee invalid for assessment years before 01.06.2015 in Marshal Textiles vs ACIT, aligned with HC decisions.
ITAT Delhi deletes section 68 addition in B N Public School vs ACIT, confirming no separate PAN or return needed for institution owned by trust/society.
Analysis of ITAT Delhi’s ruling in Bushra Javed Vs ACIT: Indexation benefits for acquisition costs based on payment year. Read the full legal insight here.
Ashvin Narayan Bajoria (HUF) Vs ITO (ITAT Surat) Recently the SMC Bench of Surat Income Tax Appellate Tribunal passed a judgement in the aforementioned case deleting the penalty levied by the Ld. Assessing Officer under section 271(1)(c) of the Act for concealment of income. The central point of discussion was whether or not penalty imposed […]
