ITAT Judgment contain Income Tax related Judgments from Income Tax Appellate Tribunal Across India which includes ITAT Mumbai, Chennai, Delhi, Kolkutta, Hyderabad etc.
Income Tax : Article examines whether the MLI Principal Purpose Test has domestic effect under Section 90(1) following Nestlé SA and Sky High ...
Corporate Law : The article argues that failure to comply before the AO or CIT(A) can lead to adverse assessments, as higher forums generally cann...
Income Tax : ITAT held that Section 54 exemption must be examined separately for each residential house sold. Aggregating gains from multiple t...
Income Tax : ITAT held that delayed filing of Form 10B cannot defeat Section 11 exemption if the audit report is available before processing un...
Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : ITAT Bangalore held Section 2(47)(v) inapplicable as the JDA did not satisfy Section 53A conditions, deleting capital gains for AY...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The tribunal held that a gift deed alone cannot establish legitimacy under Section 68. It directed fresh scrutiny of the donor’s...
Income Tax : Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(...
Income Tax : ITAT Pune upheld deletion of ₹1.14 crore Section 69C addition as it was based only on third-party statements without corroborati...
Income Tax : ITAT Mumbai held delayed filing of Form 67 is not a ground to deny Foreign Tax Credit under Section 90 where foreign income and ta...
Income Tax : Gains arising from sale of strategic investments, promoter holdings, unlisted shares and similar long-term capital assets held by ...
Income Tax : Transfer of electricity from eligible captive power units to non-eligible units was to be valued at the tariff charged by State El...
Income Tax : ITAT Hyderabad upheld the excess cash addition and Section 153D approval, while remanding the stock shortage addition for fresh ex...
Income Tax : The ITAT Delhi has revised its hearing notice protocols. Physical notices will now be sent only once, with subsequent dates availa...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Income Tax : Central Government is pleased to appoint Shri G. S. Pannu, Vice-President of the Income Tax Appellate Tribunal, as President of th...
Income Tax : Ministry of Finance notified rules for appointment of members in various tribunals on 12.02.2020 in which practice of judicial and...
Income Tax : Bhagyalaxmi Conclave Pvt. Ltd. Vs DCIT (ITAT Kolkata) In the remand report, the AO clearly stated that notice u/s 143(2) of the Ac...
State Bank of India Vs ACIT (ITAT Mumbai) The Mumbai Bench of the Income Tax Appellate Tribunal decided cross-appeals filed by a public sector bank and the Revenue for Assessment Year 2010-11. The case involved a large number of recurring banking-taxation issues including pension provisions, depreciation on securities, bad debts, section 14A disallowance, taxation of […]
The Mumbai ITAT found that the assessment order was passed without granting a reasonable opportunity to the assessee to furnish complete details or avail a hearing. The matter was remanded for fresh adjudication.
The Tribunal sent the issue of deduction for political donations back to the Assessing Officer after finding that bank transaction details had not been properly verified. Fresh adjudication was directed after giving the assessee an opportunity of hearing.
The Tribunal held that AY 2010-11 was outside the permissible ten-year assessment block computable under Section 153A. Applying the Delhi High Court’s interpretation in Ojjus Medicare, it found the notice itself invalid. As a result, the assessment proceedings were quashed and the appeals were allowed.
The Tribunal held that donations qualifying under Section 80G do not become ineligible merely because they are incurred as part of CSR obligations. The deduction was allowed following earlier decisions in the assessee’s own case.
The Tribunal held that disallowance of 20% of total purchases was unsustainable where the Assessing Officer had accepted sales, stock records, and quantitative details. Mere non-service of notices under Section 133(6) could not justify treating all purchases as bogus.
ITAT found that the taxpayer’s foreign investment was funded through disclosed banking channels and tax-paid funds. Since there was no deliberate concealment, the penalty was deleted.
The Tribunal found that bank documents showing repayment of the loan were relevant for deciding the Section 68 issue. The matter was remanded to the Assessing Officer for fresh examination.
The Tribunal found that CBDT notifications issued under TOLA extended the period for departmental actions, including rectification proceedings, thereby saving the order from being time-barred.
The Tribunal held that for AY 2015-16, the six-year limitation period under the unamended law expired on 31.03.2022. Since the notice under Section 148 was issued on 23.04.2022, it was time-barred. The reassessment proceedings and consequential assessment order were therefore quashed.
