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 restored the Section 10(10AA) leave encashment claim to the AO only for verification of the quantum based on supporting ...
Income Tax : ITAT Bangalore deleted the DAPE-based business income addition where the Indian AE was at arm's length and remanded the refund int...
Income Tax : Hyderabad ITAT quashed Section 148 reassessment, holding actual escaped income below ₹50 lakh cannot justify extended limitation...
Income Tax : ITAT Chennai deleted an addition of ₹17.10 lakh after holding that it was based solely on third-party information and estimated ...
Income Tax : ITAT Mumbai upheld taxation of only 25% profit on alleged on-money receipts, rejected Section 69C addition of entire amount and su...
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...
ITAT Chennai held that salary received for international assignment which is subjected to tax in UK could not be taxed in India. Accordingly, claim of the assessee allowed. The assessee being non-resident individual filed return of income declaring income of Rs.2295/- and claiming refund of Rs.10.08 Lacs.
As per the AO, the impugned payment in cash exceeding the specified limit was not allowable as deduction and accordingly the AO disallowed the same under the provisions of section 40A(3) of the Act and added to the total income of the assessee.
AO proceeded to finalize the assessment based on available records, as the assessee had still not responded or provided any explanations regarding the unexplained cash deposits. AO added the unexplained cash deposits of Rs. 3,13,34,845/- to the total income.
ITAT Ahmedabad held that co-operative society is entitled for deduction under section 80P(2)(d) of the Income Tax Act for funds deposited in co-operative banks. Accordingly, action of AO set aside.
ITAT Bangalore deletes penalty under Section 270A on IIFL Samasta Finance Limited. Key issues included Provident Fund contributions and education cess claims.
Explore important tax rulings from the Nagpur ITAT, covering penalties, reassessment, TDS disallowance, and gratuity exemptions in four significant cases.
ITAT Bangalore held that granting an opportunity to cross examine essential when addition is made on the basis of 3rd party statements. Non-granting any opportunity of cross examination violates the principle of natural which vitiates the validity of addition.
ITAT Bangalore deleted addition made under section 69A of the Income Tax Act towards unexplained money after examining the cash withdrawn and cash deposit amounts, since cash withdrawn is more than cash deposit.
ITAT Chennai held that cash received under unregistered will accepted as will furnished by the assessee not established as fabricated one by the department and there is no requirement in law to get the will registered.
PCIT set aside the assessment order and directed the Assessing Officer to pass fresh order and compute correct taxable income by giving opportunity of hearing to the assessee. Being aggrieved against the revision order, the assessee has preferred the present appeal.
