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...
That where the investments are converted into stock-in-trade, the difference between the market value of the investments as on date of conversion and the cost of investments is assessable under the head long term capital gains and taxable in the year in which such securities were sold as a part of the stock-in-trade.
The amount once invested in the capital gain scheme cannot be brought to tax in the year of investment itself without considering the utilization within the period allowed under the said scheme.
Payment of Sewage Tax was claimed as business expenditure, refund of same would be liable to be assessed under the head Business Income.
Rohan Pereria Vs ITO (ITAT Pune) The issue in the present appeal raised through various grounds of appeal relates to the allowance of expenditure claimed as development expenditure on sale of land situated at Baner, Pune while computing the capital gains on the sale of said land. On careful perusal of the order of the […]
Jagubhai Chhaganbhai Patel Vs I.T.O (ITAT Surat) In this cases in quantum appeals assessee was granted substantial relief in deleting major part of additions and only part of capital gains only on account of cost of improvement on pucca structure was partly upheld on estimation basis. Therefore, all substantial additions were either deleted or upheld […]
Bhalchandra Educational Trust Vs CIT (Exemptions) (ITAT Lucknow) CBDT vide Circular No. 7/2018 dated 20/12/2018 has issued directions for condonation of delay u/s 119(2)(b) of the Act in filing of Form 10 and Form 9A for assessment year 2016-17. The analysis of directions of CBDT vide this circular reveals that since assessment year 2016-17 was the […]
Hiralaxmi Ishwarlal Mehta Vs ITO (ITAT Mumbai) ITAT noted that the assessee already disclosed the bogus long term capital gain claim on sale of penny stock shares under income disclosure scheme. The sum so disclosed was Rs. 16,20,156/-. The cost of these shares was Rs. 30,673/- which was a component of the total sale proceeds […]
Rajesh Vitthal Badade Vs JCIT (ITAT Pune) It is found as an admitted position that the AO recorded statement of Mr. Sampat G. Mandhare and Mrs. Dropadabai Fakirrao Harpale, who had given sum of Rs. 5.00 lakh and Rs.7.00 lakh respectively to the assessee as advance for purchase of the land. Here it is relevant […]
ITAT held that where loans and advances are given in normal course of business and transaction in question benefits both payer and payee companies, provisions of section 2(22)(e) cannot be invoked.
.In the reason for delay in filing the appeal the appellant has stated that Advocate was busy in filing the GST returns and forgot to file the said appeal.
