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.

DCIT Vs GE BE Pvt. Ltd. (ITAT Bangalore) Conclusion: Education cess is not tax and thus not disallowable under section 40(a)(ii). Held: Assessee-company was engaged in the business of contract manufacturing of components and parts of medical diagnostic imaging equipment and also engaged in provision of engineering design services to its a...

ACIT Vs. Brindavan Agencies Pvt. Ltd. (ITAT Delhi) It is seen that the appellant has filed sufficient documents e.g. Permanent Account Numbers, bank statements, etc. to establish the identities of the four share applicants. The copies of the bank statements of the share subscribers wherein the transactions are reflected as well as the fac...

Assessee had handed over possession of the property to M/s. V.S. K Associates in the year 2000 on receiving substantial part of consideration which constituted transfer u/s. 2(47)(v) read with section 53A of the TPA attracting taxability of capital gain in the A.Y. 2001-02. Thus, the same could not once again be taxed in the assessment ye...

Disallowance made by AO under section 40(a)(ia) for non deduction of TDS on discount/rebate allowed to dealers/distributors on sale of products was not justified as there was no element of work as defined under clause (iv) of Explanation to section 194C and AO had not brought on record any material for deduction of  TDS under section 194...

ACIT Vs Dr. Radhey Shyam Garg (ITAT Jaipur) During the course of assessment proceedings, the AO noted that the assessee has deposited cash of Rs. 2,90,000/- in the Central Bank of India whereas on the said date i.e. 16.11.2015 there was a negative cash balance in the cash book of Rs. 1,01,773.84. The AO accordingly […]...

Jewels Emporium Vs ACIT (ITAT Jaipur) From the record, we found that as on the date of search, the books of account of M/s Jewels Emporium were incomplete and the printouts of cash books as taken by the search team did not reflect the true and correct balance available which is made part of the […]...

NGC Network Asia LLC Vs DDIT- International Tax (ITAT Mumbai) One of The ground raised by the assessee is with regard to charging of interest u/s.234B of the Act. We find that assessee is a non-resident whose entire income is subject to deduction of tax at source u/s.195 of the Act. Accordingly, the assessee had […]...

Laxmi Narayan Jewellery Vs ITO (ITAT Cuttack) From the order passed u/s.143(3) of the assessment year 2012-2013, there is no any single word found in regard to survey proceedings u/s.133A of the Act, whereas the documents were available with the same AO i.e. Ward-2(2), Balasore and the assessee accepted some discrepancy in stock and agree...

Jayant B Patel HUF Vs DCIT (ITAT Mumbai) (a) No penalty under Explanation-5 to Section 271(1)(c) of the Act could be levied in respect of undisclosed income found in the course of search but which were duly returned by the assessee in the return filed u/s.153A of the Act together with compliance of other conditions […]...

Devendra Kumar Jhanwar Vs ITO (ITAT Jodhpur) The impugned addition stem from the fact that an amount of Rs.8 Lacs in cash (in old currency notes of denomination of Rs.500 & Rs.1000 as demonetized by government on 08/11/2016) was found from the possession of the assessee on 18/11/2016 at arrival terminal of Maharana Pratap Airport, [&h...