ITAT Mumbai held that the provisions of Sec. 56(2)(x) of the Act are incorporated in the Finance Act 2017 with the prospective applicability from A.Y.2017-18 and the transactions entered into prior to 1.04.2017 would not suffer any implications of the section.
ITAT Ahmedabad held that post amendment to section 40(a)(ia) of the Income Tax Act, as introduced vide Finance (No.2) Act, disallowance on account of non-deduction of TDS is restriction to 30% of the expenditure as against 100%.
An overview of the ITAT Mumbai ruling in Hitesh Shantilal Mehta Vs DCIT, where the Tribunal deleted an addition by disallowance of interest expenses accrued from investments in shares and securities
In the case of Rakhi Gautam Vs ITO (ITAT Indore), the ITAT has ordered re-adjudication due to a lack of proper hearing. Notices were sent to the registered email ID instead of physical form.
ITAT Chennai ruling on consequential and mandatory nature of interest under sections 234A to 234D in case of Iljin Automotive Pvt Ltd vs DCIT
ITAT Chennai in Bank of India vs ACIT case decides on applicability of TDS late fees under section 234E before June 2015,
In Deepak T. Dhanwani vs ITO, where ITAT Chennai waived penalty for delayed tax audit report due to accountant’s unavailability,
ITAT Ahmedabad case between Standard Radiators Pvt Ltd and ACIT, involving an inaccurate income penalty dispute related to interest expense misclassification
ITAT Hyderabad order, wherein Mohammed Rahimuddin successfully appeals the penalty u/s 271A due to estimation-based income addition.
In Ram Kishan Vs ITO case, ITAT Delhi ruled that no addition u/s 69A of Income Tax Act when income source was appropriately explained during assessment.
