ITAT Chandigarh cancels income tax reassessment of Manjeet Singh, citing lack of jurisdiction and procedural errors by the Assessing Officer.
ITAT Mumbai rules in favor of Lintas Trust on surcharge issue, clarifying no surcharge applies when income is below ₹50 lakh as per Finance Act provisions.
ITAT Mumbai dismisses revenue appeal against deletion of Sec 56(2)(viia) addition in ITO vs S D N Company case, concerning share valuation and family settlement.
The case of the assessee was selected for complete scrutiny assessment and notice u/s 143(2) of the Income Tax Act, 1961 was issued. Consequently, notice u/s 142(1) of the Income Tax Act, 1961 were also issued.
ITAT Nagpur held that addition towards unexplained expenditure u/s. 69C of the Income Tax Act not warranted since the same are already covered in declaration of income hence no separate additions warranted.
ITAT Mumbai held that alternative claim of assessee (lessee) to allow depreciation on Finance Lease Rental Payment is allowable since lessor is allowed deduction of the same under section 37(1) of the Income Tax Act.
ITAT Mumbai rules Sita USA’s airline software services not taxable in India under FTS or DTAA. Revenue appeals for AY 2014-15 to 2021-22 dismissed.
ITAT Hyderabad rules no surcharge on Sriram Trust’s income under ₹50 lakh, clarifying surcharge applies only as per thresholds in the Finance Act.
ITAT Mumbai rules on Anushka Shah vs ITO case, addressing capital gains taxability on mutual fund units under the India-Singapore DTAA.
ITAT Pune remands Nirmal Foundation’s 12A registration case, imposing ₹2,500 cost for non-compliance. Case sent back to CIT(E) for final opportunity.
