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 : ITAT Bangalore held that disallowance of agricultural expenses based on estimation is unsustainable without concrete evidence, rul...
Income Tax : ITAT ruled that exemption under Section 54F cannot be denied solely due to missing bills or vouchers, emphasizing the principle of...
Income Tax : Learn about how the holding period of property impacts Capital Gain tax, including ITAT's recent decision clarifying calculations ...
Income Tax : Explore key updates on recent income tax case laws, covering international taxation, business income, and capital gains. Essential...
Income Tax : Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and f...
Income Tax : Learn about hybrid hearing guidelines of Income Tax Appellate Tribunal (ITAT) Indore Bench, effective from October 9, 2023, offeri...
Income Tax : Supreme Court of India has recently issued an order requiring all revenue appeals before the Income Tax Appellate Tribunal (ITAT) ...
Income Tax : At present appeals are fixed in routine and may take one to two years period even for first hearing. it is humbly submitted that t...
Income Tax : CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal (ITAT) on the Allegations of Possessing Disproportio...
Income Tax : Law Minister Shri Ravi Shankar Prasad launches 'itat e-dwar', an e-filing portal of Income Tax Appellate Tribunal. Portal will ena...
Income Tax : ITAT Mumbai dismisses income tax additions for AY 2014-15, stating reliance on a generalized report without independent inquiry is...
Income Tax : ITAT Mumbai dismisses Revenue's appeal, upholds CIT(A) decision to delete addition of interest income from fixed deposits in Evita...
Income Tax : ITAT Pune sends case back to CIT(A) after hearing notices sent to registered email went unnoticed, leading to non-appearance by th...
Income Tax : ITAT restores case to CIT(A) as incorrect filing date led to faulty judgment in Emerald Mining Pvt. Ltd. tax dispute....
Income Tax : Delhi ITAT rules that the requirement of filing Form 10B is procedural, allowing Section 11 exemption for an educational trust des...
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...
Income Tax : Office Order No. 08 of 2021 Post facto approval of the Competent Authority is hereby conveyed for extension of term of ad-hoc appo...
Income Tax : In continuation of the SOP (Standard Operating Procedure) dated 01.06.2020 the hearing of cases at 'ITAT Chandigarh Benches from 0...
ITAT Hyderabad has held in the case of DCIT Vs. M/s. Lanco Infratech Limited held that Mobilisation/ trade advance has been wrongly treated as trade receivable. It is not to be subjected to TP. It cannot be re-characterised as receivables. Moreover, advances given as part of contract work does not require any special addition, when […]
Since the very basis for levy and upholding of penalty under section 271C of the Act by the authorities below for assessment years 2000- 01 and 2002-03 to 2004- 05 does not survive, the orders levying/upholding the aforesaid penalty are not sustainable.
Assessee was entitled to full exemption under section 54F when the full amount was invested by the assessee even though the property was purchased in the joint names for the sake of convenience
In our considered view, without proving the nexus between the borrowed funds and its utilisation for non-business purposes, no dis allowance of interest expenditure can be made.
If during the course of assessment proceedings, the assessee filed details of claim of exemption of the same u/s.54F of the Act, the Assessing Officer is duty bound to entertain those details and verify the same and if the assessee is found eligible otherwise as per the conditions u/s.54F of the Act, he is bound to allow deduction to the assessee.
Assessee was entitled to full exemption u/s. 54 when full amount was invested by assessee even though property was purchased in joint names of assessee and his brother.
In the absence of any incriminating material unearthed during the course of search, the AO had no jurisdiction to initiate proceedings u/s 153A of the Act when no assessment proceedings were pending for this.
Assessee to prove that it is covered by exceptions to chargeability to tax as is provided by provisions of Section 1 15BBC of 1961 Act, namely that the assessee maintained a record of the identity indicating the name and address of the person making such contribution and such other particulars as may be prescribed or else it is a religious trust.
expenditure incurred for organizing sports events are allowable items of revenue expenditure as such events publicise the names of the sponsor.
We are prima facie of the opinion that the activities of the assessee of Banquet Hall Hiring, Hospitality (Restaurants) and Permit Room (Bar) are in the nature of carrying on trade, commerce, or business for consideration, which are hit by proviso to Section 2(15) of 1961 Act.
