ITAT Judgments

Income Tax Appellate Tribunal – An Introduction

Income Tax - Article is all about Income Tax Appellate Tribunal. It mainly informative about Appealable orders in case of appeal by the taxpayer, Appealable orders in case of appeal by the Commissioner, Time- limit for presenting appeal, Memorandum of cross objection, Documents to be submitted with appeal, Fees for filing the appeal, Filing of additio...

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Income Tax Updates for the Month of August 2019

Income Tax - NEWS INTERNATIONAL 1. Australian Taxation Office publishes important guidance on cross-border tax measures 2. Singapore, Turkmenistan sign comprehensive tax treaty 3. Zimbabwe proposes amendments to thin capitalization rules. 4. Bulgarian mandatory transfer pricing documentation rules enacted 5. USA and Curacao negotiating country-by-coun...

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Income Tax Updates for the Month of August 2019

Income Tax -  Recent Income Tax circulars/ notifications/ rules/ clarifications CBDT has clarified that small start-ups with turnover up to Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961, which provides deduction for 100 per cent of income of an eligible start-up for 3 years [&hel...

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Can Affidavit of AO Whose action is in Question be Relied for Approval U/S 153D?

Income Tax - When in an RTI Order it was clearly stated that approval was not there and after granting various opportunities to Departmental representative for bringing the copy of approval which he could not, reliance was placed on the affidavits of the officers and it was considered as sufficient evidence for adjudicating the ground....

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Income Tax Updates for July 2019

Income Tax - NEWS – DIRECT TAX 1. Income Tax Department detects foreign assets in recent search. 2. NR earning income from investment fund set up in IFSC is exempt from filing of ITR. 3. CBDT extends due date for filing of ITR from 31-07-2019 to 31-08-2019. 4. Income earned by NR from off-shore investments routed through Category […]...

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Compilation of Income Tax Case Laws for Departmental Officers

Income Tax - ‘Decision Kit for Departmental Officers’ is brought out for the use of the Officers of the Department. This is compiled by Shri Y.V.S.T.Sai, I.R.S., Commissioner of Income Tax, Hyderabad. This compilation book would serve as a ready reference and handy tool to the Officers of the Department in their core functions. As it is often [&he...

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Representation by ITAT Bar Association on Registrar of ITAT presiding over a Court

Income Tax - The order dated 5th October 2017 issued by the Asst. Registrar mentions that Your Honour has passed an order whereby he has been authorised to preside over a Court for the purpose of discharging his statutory functions as per the provisions of Income Tax (Appellate Tribunal) Rules, 1963 ...

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Income Tax Appellate Tribunal Surat Bench inaugurated on 01.09.2017

Income Tax - Hon'ble Ravi Shankar Prasad, Union Minister of Law & Justice Hand Electronics & Information Technology, inaugurated Surat bench of the Income Tax Appellate Tribunal, on 1st September, 2017. Hon'ble Shri P.P.Chaudhary, Union Minister of State for Law & Justice and Electronics & Information Technology, was the Guest of Honor of the function...

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ITAT Directive on Fixing of Stay Applications for Hearing

Income Tax - The Registry is directed to fix all the Stay Applications, whatever are received up to Wednesday in each week on the succeeding Friday before the respective Bench. This order be strictly followed....

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ITAT releases Draft Income Tax Appellate Tribunal Rules, 2017

Income Tax - Over a period of time, it was widely felt that the Income-tax (Appellate Tribunal) Rules, 1963, have outlived their utility to some extent in view of changing circumstances and the use of technology in the Tribunal’s functioning. In the times to come, the use of technology in the Tribunal’s day to day functioning will increase manifol...

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CAT directs govt to consider application rejected for delay in receipt of APARs for ITAT Member post

Ashok Kumar Saroha Vs Union of India (Central Administrative Tribunal Principal Bench) - In these two OAs, the grievance of the applicants is that their applications for selection to the post of Member, Income Tax, Appellate Tribunal are not being treated as valid on account of the fact that their APARs were not received before the stipulated date i.e. 20.08.2018....

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Section 153A Assessment not sustainable if No incriminating material found during search

Sunil Bhalla Vs ACIT (ITAT Delhi) - It is an admitted fact that except jewellery which remained duly explained, no material much less incriminating material was found during search, therefore, in the absence of any incriminating material recovered during search assessment having remained unabated as on date of search could not be inte...

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LTC: TDS deductible on reimbursement to staff for foreign travel leg

State Bank of Bikaner and Jaipur (Now SBI) Vs ITO (TDS) (ITAT Jaipur) - ITAT held that order of the ld CIT(A) is hereby affirmed where he has held the assessee bank to be assessee in default for short-deduction of TDS on LFC/LTC claim relating to foreign leg of the travel of its employees being not eligible for exemption under section 10(5) r/w Rule 2B....

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Interest expense having direct nexus with interest income is allowable

DCIT Vs Asian Infra Projects Private Limited (ITAT Mumbai) - DCIT Vs Asian Infra Projects Private Limited (ITAT Mumbai) It is quite evident that the business of the assessee was already set-up since the assessee had already reflected income from real estate business during AY 2008-09. The perusal of assessee’s financial statements for year under considerati...

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Addition cannot be made merely based on AIR Information

Nozaki Finance & Investment (P) Ltd. Vs DCIT (ITAT Mumbai) - Since AO had not carried out any exercise to rebut the contention of assessee that they have not received any sum higher than what has been reported in its books of account, therefore, no addition could be made based on the AIR and ledger of the payer...

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ITAT Ahmdabad moves Towards becoming Paperless Court

NA - (17/10/2017) - The copies of orders to be served upon the Departmental Representatives and the Commissioners of Appeal/ Dispute Resolution Panel will henceforth be served only by email. [A copy of the letter dated 13th October 2017 in this regard, received from the CIT (Admn)- with the approval of the Principal Ch...

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Transfers of Hon’ble ITAT Members (March 2012)

Order - (29/03/2012) - Vide Order dated 29.3.2012 passed in Pursuance of the consultations of the collegiums of the Income tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, the following Members of the Income Tax Appellate Tribunal have been transferred, in public interest, in the sa...

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Ex- President, Ex- Senior Vice-President, Ex-Vice-President and Members cannot practice before ITAT

Notification - F. No. A-12018/2/2007 – Admin III (LA) - (03/06/2009) - Ministry of Law & Justice, Department of legal Affairs, New Delhi Notification Dated : 3rd June 2009 GSR 889 (E). In exercise of the powers conferred by the Proviso to section 309 of the Constitution...

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ITAT notification on result of appeal

Notification F.No. 71-AD (AT) 2009 (ITAT Notification) - (01/05/2009) - Income-tax (Appellate Tribunal) Amendment Rules, 2009 - Amendment in rule 34 NOTIFICATION F.NO. 71-AD (AT) 2009, DATED 1-5-2009. In exercise of the powers conferred by sub-section (5) of section 255 of the Income-tax Act, 1961, the Appellate Tribunal hereby makes the following rules further to ame...

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Filing of appeals by Income-tax Department – Measures for reducing litigations

5 - (15/05/2008) - The CBDT, as a measure to reduce litigation, revised the monetary limits for filing appeals by the Department before Income Tax Appellate Tribunals, High Courts and Supreme Court. Accordingly, appeals would henceforth be filed in the ITAT only if the tax effect exceeded Rs.2,00,000, in the high cour...

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Recent Posts in "ITAT Judgments"

Section 54B exemption cannot be denied for absence of legal title due to pending litigation

Chinnappa Anthonappa Vs ACIT (ITAT Bangalore)

The assessee had complied with conditions for grant of deduction under sections 54B inasmuch as he has utilised, within a period of two years from the date of transfer of capital asset, the capital gain in purchasing another land for being used for agricultural purposes, therefore, mere fact that assessee did not get legal title to the la...

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Amount earned on sale of Agricultural land not for Business is capital receipt

DCIT Vs. Kushal Infraproject Industries India Ltd. (ITAT Delhi)

DCIT Vs. Kushal Infraproject Industries India Ltd. (ITAT Delhi) The assessee has admittedly sold the agricultural land as it is so there were no intention to do any business activity, therefore, period of holding would not be relevant. The intention of the assessee is therefore clear that assessee purchased the agricultural land and sold ...

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Section 54F Exemption on residential house acquired abroad

Shri Rajasugumar Subramani Vs ITO (ITAT Bangalore)

Shri Rajasugumar Subramani Vs ITO (ITAT Bangalore) Provision in section 54F comes w.e.f. 01.04.2015 according to which it was clarified that the residential house is to be acquired only in India meaning thereby before this amendment it was not clear as to whether the benefit of section 54F can be given to residential house acquired [&hell...

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MAT on provision for card receivables (NPA) written back by NBFC

Bobcards Limited Vs ACIT (ITAT Mumbai)

Provision for card receivables (NPA) could not be said to be a provision for liability, because even if debt was not recoverable no liability could be fastened upon assessee. Clause (c) of Expln. to section 115JA did not get attracted and AO was not justified in adding back provision for card receivables (NPA) writen back while computing ...

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Mere transaction through banking channel not sufficient to prove genuineness

Hillman Properties Pvt. Ltd. Vs ITO (ITAT Delhi)

Assesssee did not furnish PAN and Bank statements or any of the directors of investor companies merely showing that transactions were carried out through banking channel was not sufficient to prove genuineness of transaction in the matter. When investors having nil income had deposited cash in their bank account immediately before giving ...

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CAT directs govt to consider application rejected for delay in receipt of APARs for ITAT Member post

Ashok Kumar Saroha Vs Union of India (Central Administrative Tribunal Principal Bench)

In these two OAs, the grievance of the applicants is that their applications for selection to the post of Member, Income Tax, Appellate Tribunal are not being treated as valid on account of the fact that their APARs were not received before the stipulated date i.e. 20.08.2018....

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Posted Under: Income Tax |

Section 153A Assessment not sustainable if No incriminating material found during search

Sunil Bhalla Vs ACIT (ITAT Delhi)

It is an admitted fact that except jewellery which remained duly explained, no material much less incriminating material was found during search, therefore, in the absence of any incriminating material recovered during search assessment having remained unabated as on date of search could not be interfered with while framing assessment und...

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LTC: TDS deductible on reimbursement to staff for foreign travel leg

State Bank of Bikaner and Jaipur (Now SBI) Vs ITO (TDS) (ITAT Jaipur)

ITAT held that order of the ld CIT(A) is hereby affirmed where he has held the assessee bank to be assessee in default for short-deduction of TDS on LFC/LTC claim relating to foreign leg of the travel of its employees being not eligible for exemption under section 10(5) r/w Rule 2B....

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Notional Interest which is part of Purchase price is business income

AGR Matthey of Western Australia Vs ADIT (ITAT Delhi)

AGR Matthey of Western Australia Vs. ADIT (ITAT Delhi) From the records it can be seen that there is no interest credit, since within a day or two of usance of letter of credit by PEC Ltd’s bank to the Assessee, letter of credit stands discounted by the Assessee with ANZ Bank of Australia. The […]...

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Interest expense having direct nexus with interest income is allowable

DCIT Vs Asian Infra Projects Private Limited (ITAT Mumbai)

DCIT Vs Asian Infra Projects Private Limited (ITAT Mumbai) It is quite evident that the business of the assessee was already set-up since the assessee had already reflected income from real estate business during AY 2008-09. The perusal of assessee’s financial statements for year under consideration would show that the assessee has obta...

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