ITAT Judgments

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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Income Tax Updates for June 2019

Income Tax - NEWS  DIRECT TAX 1. CBDT clarified that an assessee is entitled to claim set-off of loss against income determined under section 115BBE of the Act till the assessment year 2016-17. [Ref: Circular no 11/2019 [F.NO.225/45/2019-ITA.II], Dated 19-6-2019] 2. CBDT issues revised guidelines for compounding of offences under Direct Tax Laws [Re...

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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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ITAT directive on Adjournment requests & Covered appeals

Income Tax - Representatives of our Bar Association have had a meeting with the Hon’ble President of the Tribunal. On a representation made by us, the Hon’ble President has readily acceded to our request that during the month of May, a lenient view may be taken as regards requests for adjournments....

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Section 54/54F: New residential house need not be purchased by assessee in his own name

Mrs. A. Vijayakumari Vs ITO (ITAT Chennai) - Mrs. A. Vijayakumari Vs ITO (ITAT Chennai) The provisions of section 54 of the Act are beneficial and are to be considered liberally for reasonable bonafide cause but investment in residential property is mandatory which is not in dispute in this case. The Assessing Officer was not justified in reje...

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Deduction U/s. 80P not allowable to Co-operative society if it provides Credit facility to other than members

ITO Vs M/s. Siddasiri Pattin Souharda Sahakari Niyamit (ITAT Bangaluru) - Where assessee-society was engaged in activity of finance business and was also engaged in activity of granting loans to general public as well, it could not be termed as co-operative society meant only for its members and providing credit facilities to its members, hence assessee was not entitled t...

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In case of Limited scrutiny AO cannot make additions or disallowances on other issues

Shri Vijay Kumar Vs ITO (ITAT Chandigarh) - Shri Vijay Kumar Vs ITO (ITAT Chandigarh) The main contention of the Ld. Counsel for the assessee is that the Assessing Officer while making the impugned additions has exceeded his jurisdiction. That the case of the assessee was selected for limited scrutiny issue i.e. regarding security transaction...

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Addition justified for Unverified corpus donation 

Angika Development Society Vs Asstt. Director of Income Tax (Exemption) (ITAT Delhi) - Where corpus donation could not be verified as donor was not co-operating in providing details, it was rightly treated as unexplained cash credit under section 68....

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Cash Sale of Car cannot be doubted without inquiry| Addition not justified

Mr. Satyender Yadav Vs The Income Tax Officer (ITAT Delhi) - Mr. Satyender Yadav Vs ITO (ITAT Delhi) It is not in dispute that assessee is owner of the Car. The assessee explained that car is sold for cash of Rs.3,21,900/- to Shri Parvender Singh who has executed an affidavit in favour of the assessee, confirming the purchase of the Car. The A.O. did not exam...

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CIT cannot exercise Revisionary power u/s 263 merely because he has different opinion on the matter

The assessee has filed this appeal disputing the order of Pr. Commissioner of Income Tax-15, Kolkata passed u/s 263 of the Income Tax Act, 1961 (hereinafter referred to as the Act) dated 22.03.2017 by which the Ld. Pr. CIT set aside the assessment order dated 02.03.2015 passed u/s 143(3) of the Act ...

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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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Recent Posts in "ITAT Judgments"

Section 54/54F: New residential house need not be purchased by assessee in his own name

Mrs. A. Vijayakumari Vs ITO (ITAT Chennai)

Mrs. A. Vijayakumari Vs ITO (ITAT Chennai) The provisions of section 54 of the Act are beneficial and are to be considered liberally for reasonable bonafide cause but investment in residential property is mandatory which is not in dispute in this case. The Assessing Officer was not justified in rejecting the case law relied on […]...

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Deduction U/s. 80P not allowable to Co-operative society if it provides Credit facility to other than members

ITO Vs M/s. Siddasiri Pattin Souharda Sahakari Niyamit (ITAT Bangaluru)

Where assessee-society was engaged in activity of finance business and was also engaged in activity of granting loans to general public as well, it could not be termed as co-operative society meant only for its members and providing credit facilities to its members, hence assessee was not entitled to deduction under section 80P....

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In case of Limited scrutiny AO cannot make additions or disallowances on other issues

Shri Vijay Kumar Vs ITO (ITAT Chandigarh)

Shri Vijay Kumar Vs ITO (ITAT Chandigarh) The main contention of the Ld. Counsel for the assessee is that the Assessing Officer while making the impugned additions has exceeded his jurisdiction. That the case of the assessee was selected for limited scrutiny issue i.e. regarding security transaction. The Assessing Officer could not find a...

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Addition justified for Unverified corpus donation 

Angika Development Society Vs Asstt. Director of Income Tax (Exemption) (ITAT Delhi)

Where corpus donation could not be verified as donor was not co-operating in providing details, it was rightly treated as unexplained cash credit under section 68....

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Cash Sale of Car cannot be doubted without inquiry| Addition not justified

Mr. Satyender Yadav Vs The Income Tax Officer (ITAT Delhi)

Mr. Satyender Yadav Vs ITO (ITAT Delhi) It is not in dispute that assessee is owner of the Car. The assessee explained that car is sold for cash of Rs.3,21,900/- to Shri Parvender Singh who has executed an affidavit in favour of the assessee, confirming the purchase of the Car. The A.O. did not examine […]...

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Income from commercial exploitation of properties is business income

DCIT Vs M/s ATC Realtors Pvt. Ltd. (ITAT Guwahati)

Where assessee's main objects were acquiring, constructing, operating and maintaining of multiplexes, business centres, etc., income derived from such activities was to be treated as business income and not income from house property....

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Posted Under: Income Tax | |

ITAT upheld addition for accommodation entry receipts as LTCG

Suman Poddar Vs ITO (ITAT Delhi)

Suman Poddar Vs ITO (ITAT Delhi) The evidences put forth by the Revenue regarding the entry operation fairly leads to a conclusion that the assessee is one of the beneficiaries of the accommodation entry receipts in the form of long-term capital gains. The assessee has failed to prove that the share transactions are genuine and […]...

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Mere discrepancy in Form 26AS & 16 not amounts to concealment

Chalapati Katiki Vs ITO (ITAT Hyderabad)

Taking into account the amount mentioned in Form 26AS it could not be said that the assessee had concealed amount or furnished inaccurate particulars of income. However, penalty was restricted to the tax sought to be evaded on the amount of commission income not disclosed by assessee....

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Penalty cannot be levied if addition itself was debatable

M/s Google India Pvt.Ltd. Vs ACIT (ITAT Bangalore)

Additions in respect of which penalty was confirmed has been accepted by Hon’ble Karnataka High Court, leading to substantial question of law. Thus when Hon’ble High Court admitted substantial question of law on additions, it becomes apparent that issue is certainly debatable. In such circumstances penalty cannot be levied under secti...

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Order must be passed in reasonable time in absence of prescribed statutory time limit with reference to collection of taxes

Adani Enterprise Ltd. Vs DCIT (ITAT Ahmedabad)

Adani Enterprise Ltd. Vs DCIT (ITAT Ahmedabad) We notice that no time limit has been prescribed for passing order under s.206C of the Act. The CIT(A) has assumed that in the absence of statutory time limit provided, the provisions of Section 201(3) of the Act providing time limit for deduction of tax at source can […]...

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