Courts: ITAT Pune
Find latest ITAT Pune judgments, orders and case laws on income tax covering assessments, deductions, transfer pricing, capital gains, TDS, reassessment and penalties.
Commitment charges paid towards foreclosure of business agreement are allowable u/s 37
Expenditure on research is revenue nature if no new product develops, irrespective of treatment in books
Adjustment of seized cash before completion of assessment permitted against self assessment/ advance tax subject to specific request made by assessee
Reopening u/s 263 justified in case AO ignored the fact that assessee shown business income while he cease to be in business by letting out his entire factory premises
Order resulting in payment of interest u/s 244A is appealable
If income been disclosed by assesse after search by filing return u/s 153A then penalty u/s 271(1)(c) is imposable
S. 80IB(10) -Canopy/ Porch cannot be treated as part of Built up Area as it is not habitable
VAT collected but not paid is to be added to income even if amount has not routed through P&L Account
Penalty can be levied on unrecorded receipts, expenditure and investments declared by assessee pursuant to search
To avail Section 32(2) depreciation claim it’s not necessary that business carried on in following previous year
Change in method of ALP in transfer pricing adjustment not permitted on same set of facts
Bad debt cannot be disallowed merely because its of Group Company
Deduction u/s. 80IB(10) cannot be denied even if area of housing project is less than 1 acre or for non ownership of land
Addition based on third party evidence not tenable if no evidence found from assessee
ITAT Pune judgments and orders cover a broad range of income-tax controversies involving individuals, businesses and corporate taxpayers. This TaxGuru page compiles decisions relating to assessments, additions, deductions, exemptions, business income, capital gains, transfer pricing, international taxation, TDS, reassessment, unexplained income, penalties and procedural issues. Chartered Accountants, advocates, companies and other tax professionals can use this collection to research ITAT Pune precedents and follow developments in direct tax jurisprudence. The page includes recent and significant earlier Tribunal decisions published on TaxGuru for convenient income-tax case-law research.
