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 held section 35D(2)(c) applies only to companies and upheld disallowance of REIT's claim for IPO and listing expense amortisa...
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 : ITAT Bangalore restored the appeal after holding that mere upload of an order on the ITBA portal is not valid service under Sectio...
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 : ITAT Chennai deleted the addition on insurance compensation for fire loss and the related penalty after holding the receipt had al...
Income Tax : ITAT Mumbai deleted disallowances on bonus provision reversal and brokerage provision, allowed Section 80G deduction, and allowed ...
Income Tax : ITAT Mumbai held that a genuine business expenditure cannot be disallowed merely because it was booked under an incorrect accounti...
Income Tax : ITAT Bangalore quashed reassessment under Sections 148 and 150, holding it was time-barred and unsupported by any finding or direc...
Income Tax : ITAT Mumbai allowed Section 87A rebate on STCG taxable under Section 111A for AY 2024-25 and directed CPC to recompute tax liabili...
Income Tax : ITAT Pune allowed rectification under Section 254(2), correcting factual errors and granting Section 54EC deduction of ₹1 crore ...
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...
While processing of TDS statement, the late fee, if any shall be computed in accordance with provisions of Section 234E of the Act. As a corollary, prior to amendment under Section 200A of the Act, levy of fee under Section 234E during processing of TDS statement is not tenable.
Mere submission of amendment by post to Charity Commissioner cannot be considered to be due registration with Charity Commissioner. What is required to be shown by assessee is that amendment carried out to trust deed has been registered with Charity Commissioner and his approval has been obtained.
ITAT Delhi held that received towards undertaking restrictive covenant of non imparting service to any other person and not to share associated goodwill of medical practice being in the nature of non compete fee is a capital receipt and not taxable under provision of the Income Tax Act.
ITO Vs Manumati Boro (ITAT Guwahati) Revenue has challenged the finding of the ld. CIT(A) deleting the addition for undisclosed sale and sustaining the addition only to the extent of net profit element embedded in the alleged undisclosed sale. We notice that the ld. Assessing Officer based on the seized records impounded during the course […]
DCIT Vs Bhilwara Energy Ltd. (ITAT Delhi) The assessee filed return of income declaring a loss of 16.13 crores. The assessee company suo moto disallowance an amount of Rs. 9.9 crores consisting of interest of Rs. 9.5 crorees and other expenses of Rs. 40 lakhs on account of disallowance u/s 14A read with Rule 8D. […]
It is settled proposition of law that proceedings initiated and orders passed in the name of the dead person is not valid. However, it appears that the AO was not aware of the fact of death of the assessee and the copy of death certificate is furnished for the first time before us.
ITAT held that lease rental received by assessee on leasing of alloys cannot be treated as royalty in terms of India-USA DTAA & provisions of section 9(1)(vi)
Assessment order cannot be termed as erroneous and prejudicial to interests of revenue if AO has taken one of possible views of matter.
Bhaveshbhai Manilal Patel Vs ITO (ITAT Ahmedabad) In this case by Information noted by the AO of cash deposits of Rs.10.00 lakhs in the bank account of the assessee leading to belief of escapement of income, has been duly demonstrated before me to be incorrect. The actual cash deposits were only to the tune of […]
ITAT Delhi held that penalty u/s 271(1)(c) of the Income Tax Act alleging inaccurate particulars not leviable as assessee was subjected to tax on book profits u/s 115JB.
