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 Panaji deleted ₹8 lakh out of a ₹9 lakh addition after accepting interest-free loans from relatives and ₹2 lakh accumul...
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 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...
Since the assessee is a company as is established by the 143(1) intimation, question of assessing its income under the head ‘salary’ does not arise. Impugned order is, therefore, liable to be set aside.
ITAT Mumbai held that re-opening of assessment without ‘reason to believe’ simply based on the information from DGIT(Inv.) is untenable in law.
ITAT Mumbai held that granting of conditional approval under section 80G of the Income Tax Act by PCIT/CIT is unsustainable in the eyes of law.
Merely because entity has not responded to section 133 (6) notice the transaction cannot be doubted and be treated as non-genuine
Since Bogus Purchase expenses were shown by assessee under the head work in progress and has not been reflected in the trading account, therefore, no addition can be made.
Requirement of furnishing audit report in Form No. 10B before due date prescribed in section 44AB mandatory w.e.f. 1.4.2020 only.
D.C.I.T Vs Vinodchandra Shanabhai Patel (ITAT Ahmedabad) On perusal of the profit and loss account of the assessee placed on page 29 of the paper book, we find that the assessee has shown other income of ₹1,92,78,814.00 which is representing the unaccounted stock found during the course of survey operation under section 133A of the […]
Karnataka Vikas Grameena Bank Vs ACIT (ITAT Bangalore) Assessee is a regional rural bank and formed with the merging of four regional banks into a single regional rural bank. As per the Regional Rural Bank Act 1976 notification dated 12/09/2005, the shareholders were Central Government, State Government and sponsored Bank. The case was reopened on […]
ITAT Delhi held that assessment order passed in the name of non-existent entity is equivalent to passing an order in the name of dead person, hence, is invalid.
Smt. Sonal Kumari Vs ITO (ITAT Chennai) The only issue in this appeal of assessee is as regards to the order of CIT(A) confirming the action of AO in adding the cash deposited during demonetization period in assessee’s savings bank account maintained with Punjab National Bank between 15.11.2016 to 05.12.2016 amounting to Rs.7.68 lakhs. The […]
