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...
The Kolkata ITAT deleted an addition against an employees gratuity fund after finding that gratuity payments were higher than the interest income earned during the year. The Tribunal held that excess expenditure over income meant no taxable addition could survive.
The ITAT Agra held that cash deposits could not be treated as unexplained where the assessee had already disclosed commission income in the income tax return. The Tribunal granted relief after finding that the Assessing Officer failed to consider the declared income source.
The ITAT Visakhapatnam held that a reassessment notice issued after expiry of six years for AY 2015-16 was barred by limitation under the first proviso to Section 149(1). The Tribunal ruled that the amended ten-year reopening period could not revive time-barred cases.
The Tribunal held that once transactions are treated as bogus, there is no basis for separately allowing expenses reflected in gross profit. Telescoping was therefore restricted to net income disclosed in the return.
Delhi ITAT held that revision under Section 263 was invalid because the Assessing Officer had already made additions on the exact issue for which reassessment was reopened. The Tribunal ruled that the reassessment order was not erroneous or prejudicial to Revenue.
The Tribunal held that documents relating to payments made to suppliers such as TS MARKFED and Sri Venkateshwara Agencies required proper verification. The case was remanded to the AO for fresh adjudication.
Pune ITAT upheld revision under Section 263 after finding that the Assessing Officer failed to fully verify expenditure claims unsupported by vouchers. The Tribunal held that random verification was insufficient where substantial cash expenses were claimed.
The Tribunal accepted the assessee’s explanation that unspent cash withdrawn for labour and petty expenses was redeposited into the same bank account. The Section 68 addition was consequently deleted.
Pune ITAT remanded the matter after the assessee explained that responses meant for the assessment appeal were inadvertently uploaded in the penalty appeal portal.
Tribunal observed that the Assessing Officer failed to establish any mismatch in stock, sales, or accounting records before making a 10% purchase disallowance. The addition was deleted as it was based only on assumptions derived from portal data.
