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 deleted the Section 43 BMA penalty for non-disclosure of foreign ESOPs in Schedule FA, treating the omission as a bona fide...
Income Tax : ITAT Mumbai remanded Section 12AB and consequential Section 80G renewal after holding that FCRA renewal rejection required indepen...
Income Tax : ITAT deleted the Section 69A addition on advance sale consideration, upheld Section 153C proceedings, and partly allowed the asses...
Income Tax : ITAT Hyderabad upheld revenue deduction for TV serial production costs, dismissed Revenue's appeal, and remanded subscription reve...
Income Tax : ITAT held the appeal was filed within the extended limitation granted by the Supreme Court, set aside the dismissal, and remanded ...
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...
Validity of the ICAI guidance for calculating the turnover in case of derivatives has been reiterated by various judicial precedence. ICAI as an expert body of accountants and guidance note on tax audit issued by them can be relied upon in absence of any statutory provision for computation of turnover in such cases.
ITAT held that payment of Fees for training to Employees on soft skill & general topics cannot be treated as Fees for Technical Services (FTS)
A.G. Ferro Cast P Ltd Vs ITO (ITAT Kolkata) A perusal of the assessment order reveals that the order of the Assessing Officer is short and cryptic wherein no reasoning has been given as to why the Assessing Officer has treated the share application/share premium received from one party M/s Lagan Vincom Pvt. Ltd. as […]
ITAT Mumbai held that the amount of non-compete fee is taxable under section 28(va) of the Income Tax Act under the head ‘Income from Business & Profession’.
ITAT Bangalore held that where the assets and liabilities of an undertaking are sold as a group or lumped together such a sale would qualify as a slump sale Accordingly capital gain on the same should be computed as section 45 to 50 of the Income Tax Act.
Print Plus Private Limited Vs ITO (ITAT Mumbai) Brief facts is that the AO noticed from perusal of Tax Audit Report that the appellant/assessee had paid remuneration to directors amounting to Rs. 23,26,200/-. However, it was noticed that an amount of Rs.36,00,600/- was debited to Profit & Loss account instead of Rs. 23,26,200/-. On a […]
ITAT Pune held that interest income of co-operative society from investments/ deposits parked with co-operative bank is allowable as deduction to co-operative society under section 80P(2)(d) of the Income Tax Act.
ITAT Chennai held that disallowance u/s 40A(3) of the Income Tax Act sustainable as aggregate of the payments made to a single party otherwise by an account payee cheque drawn on a bank or account payee bank draft exceeds Rs.20,000/-in a day.
On facts we find that issues have been enquired into at length by AO and orders cannot be set aside on mere whims & fancies of Revisionary Authority
ITO Vs Sh. Subash Chander (ITAT Amritsar) It is prayed that all the assessment years need to be considered cumulatively by lower authorities taking into account not only the evidence already on record but also by allowing assessee to provide further evidence in support of his submissions because the entire proceedings have been carried out […]
