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 : The Tribunal held that cash deposits during demonetisation cannot be treated as unexplained when backed by audited books, invoices...
Income Tax : The Tribunal ruled that non-specification of the precise statutory charge under sections 270A(2) and 270A(9) violated principles o...
Income Tax : The Delhi ITAT held that institutions engaged in preservation of environment fall under a specific charitable limb under Section 2...
Income Tax : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
Income Tax : ITAT Bangalore restored the Section 54F claim after noting that medical issues and portal difficulties prevented timely filing of ...
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 : Learn about hybrid hearing guidelines of Income Tax Appellate Tribunal (ITAT) Indore Bench, effective from October 9, 2023, offeri...
Income Tax : The Mumbai ITAT held that the appellate authority failed to consider pending writ petitions and interim directions of the Bombay H...
Income Tax : The ITAT Chennai held that exemption under Section 11 cannot be denied merely because Form 10B was not filed along with the return...
Income Tax : The ITAT Bangalore held that gains arising from buyback of shares are taxable under Section 46A because the conditions prescribed ...
Income Tax : ITAT Mumbai held that incomplete WhatsApp chats without proof of completed transactions cannot justify additions under Section 69A...
Income Tax : ITAT Delhi held that penalty under Section 271AAC cannot survive once the underlying Section 153C assessment is quashed. The Tribu...
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 Pune held that denial of granting of exemption under section 80G of the Income Tax Act because of spent more than 5% for religious purpose from its total income i.e. violating provisions of section 80G(5B) of the Income Tax Act is justified.
ITAT Delhi held that addition under section 69 of the Income Tax Act on account of cash deposited in bank accounts sustained as the assessee failed to give any explanation regarding such cash found to be credited in the bank accounts.
ITAT Chennai held that deduction of TDS vis-à-vis amortization of discount on debentures needs fresh adjudication in the light of additional evidences filed by the revenue. Accordingly, matter restore back.
ITAT Pune held that imposition of penalty under section 270A(9) of the Income Tax Act without specifying the limb within which the penalty is imposed is unsustainable. Failure of AO to quote any of the six sub-limbs as prescribed u/s 270A(9) makes imposition of penalty unsustainable
ITAT Delhi held that revised return cannot be filed to cover up deliberate omission etc. in the original return. Thus, claim of the Assessee towards incurring impugned capital loss and carryforward thereof vide the revised return is unsustainable.
ITAT Bangalore Held that not every deposit during the demonetization period would fall under category of unaccounted cash. However the burden is on the assessee to establish the genuineness of the deposit in order to fall outside the scope of unaccounted cash. Matter remanded for re-verification.
The ITAT Mumbai case of Rajesh Prabhudas Parekh vs CIT(A), ITO is an insightful judgment on on-money payments in real estate transactions and the necessity of corroboration in such cases.
Overview of the ITAT Ahmedabad’s decision in Babusinh P. Thakor Vs ITO case, including wrongful assessment of tax liability and the implications for future income tax assessments.
In the case of N.B. Builders & Promoters (P) Ltd Vs CIT, ITAT Chandigarh held that penalties cannot be imposed for mere lower gross profit based on assumptions and conjectures.
ITAT noted that Interest income was earned on NSC, fixed deposit/certificate of bank as a result of a mandatory business requirement as per the West Bengal Cooperative Societies Act. Therefore, the interest earned from these deposits was indeed a business income, making it eligible for deduction under Section 80P(2)(a)(i).
