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Failure to Produce Loan Transaction & Share Pledge/purchase Documents: ITAT Directs Re-adjudication

January 22, 2024 210 Views 0 comment Print

Failure to produce loan transaction and shares documentation: ITAT Mumbai orders re-examination. Explore the details of Fortune Credit Capital Ltd vs DCIT case.

TDS under Section 194C Applicable to CAM Charges Distinct from Rent: ITAT Delhi

January 22, 2024 3114 Views 0 comment Print

ITAT Delhi decision on TDS under section 194C for CAM charges. Explore Liberty Retail Revolutions Ltd. vs ACIT case details, analysis, and conclusion.

India-Korea DTAA Article 15(1): Korean Resident’s Salary for Services Outside India Not Taxable  

January 21, 2024 741 Views 0 comment Print

ITAT Delhi rules in Amit Laroya vs ACIT case, stating salary of a Korean resident for services outside India is not taxable in India under Article 15(1) of India-Korea DTAA.

ITAT Mumbai quashes Reassessment Due to Lack of Mind Application

January 21, 2024 2880 Views 0 comment Print

Explore the ITAT Mumbai order in Ankur Power Projects vs ITO. Learn why reassessment proceedings were quashed due to non-application of mind by the AO. Full text available.

ITAT Directs Reassessment of Interest for Non-Performing Assets Loans

January 21, 2024 378 Views 0 comment Print

Explore the ITAT Bangalore order in Belur Urban Co-operative Bank vs ITO. Learn why reassessment on interest in NPA loans is directed for readjudication. Full text available.

Section 144C(4) – Assessment Order Time-Barred if Objections Filed After Limitation: Delhi HC

January 21, 2024 1344 Views 0 comment Print

Delhi ITAT rules on time limitation for Assessment Order under Sec 144C(4). Analysis of objections filing, jurisdiction, and compliance with Income Tax Act. Full order details provided.

No Section 54F Exemption for Property used for Religious purposes: ITAT Hyderabad

January 21, 2024 933 Views 0 comment Print

Explore ACIT Vs Iqbal Ali Khan case at ITAT Hyderabad, challenging disallowance of Section 54F claim on a property used for religious purposes. Detailed analysis and outcome.

Unrecorded Stock can’t be added U/S 69B if found connected with business of assessee

January 21, 2024 879 Views 0 comment Print

Dive into the recent ITAT judgment on Sec 69B & 115BBE, exploring the treatment of unrecorded stock in a business survey. Analysis of AO, CIT(A), and ITAT perspectives.

Addition based on third party statement without tangible material is unsustainable

January 20, 2024 4050 Views 0 comment Print

ITAT Mumbai held that addition under section 68 of the Income Tax Act merely on the basis of information and statement of third party without any tangible material on record is unsustainable in law.

Revision u/s 263 sustained as assessment completed in a routine and mechanical manner

January 20, 2024 522 Views 0 comment Print

ITAT Mumbai held revisionary order under section 263 of the Income Tax Act to be proper and just as assessment was completed in a routine and mechanical manner without due diligence and without due application of mind.

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