ITAT Delhi states transactions in regular books cannot be deemed incriminating material, dismissing revenue’s appeal against CIT(A) order.
ITAT Ahmedabad remands case of Ramakushna Kiritbhai Tripathi Vs ITO due to accountant’s departure and lack of proper representation, emphasizing procedural fairness.
Explore the legal intricacies of Carmel Convent vs. Income-tax Officer (Exemption) case decided by ITAT Cochin Bench, analyzing its implications for charitable trust exemptions.
Read the full text of the ITAT Kolkata’s order in the case of Maa Biddeswari Agro Products Pvt. Ltd. vs ITO. Learn how the ITAT ruled to delete the addition of share premium due to the AO’s flawed valuation.
ITAT Indore held that the peak credit theory should be adopted for determining income of assessee. Under this theory, only peak balance in bank account should be considered for taxation
Sri Jeyamkonda Choleeswara Soundaranayaki Amman Kumbhabisheka Malar Kyushu vs ITO (ITAT Chennai) case: Trust’s error in applying for registration under the Income Tax Act leads to ITAT’s directive for reevaluation.
Delve into the verdict of ITAT Mumbai regarding ESOP expenses, highlighting the difference in fair market value and its allowance as deductible expenditure. Learn from the case of Lupin Limited Vs DCIT.
ITAT Delhi held that receipt of non-competition fee on account of restrictive covenants in respect of restrain on the source of income are capital receipts. Accordingly, the same is not liable to tax.
ITAT Ahmedabad ruling regarding Section 54 deduction to a Hindu Undivided Family (HUF) for property purchase in an individual’s name. The decision emphasizes the principle against allowing a change of opinion in reassessment proceedings, based on established legal precedents.
In the case of Vijay Rajnikant Patel Vs PCIT, ITAT Ahmedabad rules that Section 263 revisionary powers are limited to issues addressed in limited scrutiny, ensuring adherence to CBDT instructions.
