ITAT Judgments | ITAT Judgment contain Income Tax related Judgments from Income Tax Appellate Tribunal Across India which includes ITAT Mumbai, Chennai, Delhi, Kolkutta, Hyderabad etc.

Ld. CIT acted mechanically in order to discharge his statutory obligation when he merely wrote on the format Yes, I am satisfied. In the case in hand, the Id. CIT has even not written any affirmative sentence or word but has just signed against the column which was pre-typed Yes....

AO has obtained the necessary approval from the Competent Authority for conversion of the limited scrutiny to comprehensive scrutiny. Accordingly, the issue which is taken up by the AO in the proceedings under section 154 is illegal and void being beyond his jurisdiction to frame the limited scrutiny assessment....

Assessee has not tendered cogent evidence to explain as to how the shares in an unknown company had jumped to an higher amount in no time when the fantastic sale price was not at all possible as there was no economic or financial basis to justify the price rise. Also, assessee failed to provide details of persons who purchased the shares....

We are of the view that the company having occupied the property for its own purposes, no notional rent can be added. It may be germane to mention here that this is the only property owned and occupied by the assessee as its registered office. It is not the case of the AO that the assessee company was having some other premises to have it...

ACIT Vs Reliance Jio Infocomm Ltd. (ITAT Mumbai) Let us appreciate the nature of development, from the treaty perspective, in case one is to hold that the retrospective amendments defining the expression ‘process’ would be equally applicable for definition of ‘royalties’ under the tax treaty. Thus viewed, situation could be like t...

TDR is a capital asset, because it is inextricably linked with immovable property and also flows from transfer of immovable property. When, TDR is considered to be an immovable property/assets within the meaning of section 2(14) of the I.T.Act, then any right in such TDR is also needs to be considered as a asset within the meaning of sect...

Foreign exchange loss arising out of foreign currency fluctuations in respect of loan in foreign currency used for acquiring fixed assets should be allowed as revenue expenditure by charging the same into the Profit and Loss account and not as capital expenditure by deducting the same from the cost of the respective fixed assets....

The inability to meet the contractual obligation by the assessee cannot be termed as an offence or infraction of law so as to deny the claim of the assessee by invoking the expression 1 to sec 37(1) of the Act....

Where AO did not pass any speaking order in disposing of assessee|s objections against notice under section 148, the assessment order passed subsequent to such notice, would be considered as bad in law and hence, the same was liable to be quashed....

No netting of profits and losses of the eligible units was to be done for the purpose of calculating the deduction under section 80-IC and each unit for the said purpose had to be treated separately....