Analysis of the recent ITAT ruling on Pawan Satyanarain Jalan Vs Assessing Officer Central where the penalty under Section 271AAB of the Income Tax Act was deleted.
Dive into ITAT’s landmark ruling in Akram Hossain Mullick vs DCIT where machinery repair costs for a petrol pump business are considered as revenue nature.
Learn about ITAT Mumbai’s decision on TDS benefit allowance for Ignitive Digitech Private Ltd Vs DCIT – aligning TDS benefits with income assessment year.
“ITAT Mumbai upholds tax exemption for share of profit from partnership firm, rejects addition u/s 68 due to non-payment of taxes by the firm. Read the full ruling.
ITAT Mumbai rules in favor of a production supervisor, declaring no illegality in adopting presumptive tax under section 44AD. Full analysis of the case.
ITAT Mumbai allows the appeal by Jerry John Mendonca against the order of the Ld. CIT(A) for AY 2011-12. The ITAT imposes a cost of Rs. 5,000 on the assessee for non-compliance, to be paid to the PM Relief Fund.
ITAT allowed internet expenses and labour charges as business expenses and further held that Section 115BBE not applicable to expenses adequately explained during assessment
ITAT Mumbai rules that penalty under section 271(1)(c) of the Income Tax Act is not leviable on estimated additions. The decision is based on the principle established in previous judgments.
Explore an analysis of ITAT’s ruling against Timely Commercial P. Ltd for its failure to explain large share premium received, upholding an addition.
ITAT Mumbai held that Corporate Guarantee facility provided to overseas AE by the assessee is an international transaction and hence addition towards Arm’s Length Guarantee Fee confirmed.
