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...
VCI Hospitality Ltd. Vs DCIT (ITAT Delhi) Interest expenses on FBT being penal in nature cannot be treated as business expenses Facts- Assessee is a company engaged in the business of hotel operations and marketing activities. Assessee filed its ROI for A.Y. 2011-12 on 30.09.2011 declaring income of Rs.80,67,320/-. The case was selected for scrutiny […]
La Opala Rg. Ltd. Vs DCIT (ITAT Kolkata) The assessee was under compulsion to maintain a deposit with the electricity board to ensure supply of power to the unit and such interest income had first-degree nexus with the eligible undertaking of the assessee and accordingly the same would equally qualify for the deduction u/s 80IC […]
DCIT Vs NCR Business Park Pvt. Ltd. (ITAT Delhi) This bench is of considered view that there are two kinds of provisions under the Act, one in respect of what is allowable and other in respect of what is not allowable, i.e., they override the provisions. The overriding provisions should first be applied and then […]
AO erred in assessing cessation of liability towards unsecured loans availed from financial institutions in terms of order of BIFR u/s. 41(1) of Income Tax Act, 1961.
India Safari And Tours Ltd Vs DCIT (ITAT Delhi) Apropos issue relating to disallowance of gross income on foreign exchange. On this issue, AO noted that assessee was found to have claimed certain loss on account of foreign exchange fluctuation on revaluation of advances received. He noted that loss was in respect of advances and […]
Held that employee is eligible for relief u/s 89 on one-time lumpsum ex-gratia amounts payable by the employer as such compensation received is treated as salary received in advance.
Akshay Khetter pal Vs ACIT (ITAT Delhi) Conclusion: Penalty u/s 112(a) of the Custom Act was sustainable as penalty was penal in nature and the payment made for discharge of punishment for violation of prohibited acts and/or restriction(s) imposed under the provisions of law, could not be considered as compensatory in natur and not allowable […]
Since AO had merely asked the assessee for filing information in respect of the grounds on which the case was selected and no meaningful enquiry had been carried out by the AO on the information filed by the assessee, therefore, revision under section 263 by CIT was justified.
Sling Media Pvt. Ltd. Vs DCIT (ITAT Bangalore) Payments forming part of CSR were claimed as deduction under section 80G. Held that assessee cannot be denied the benefit of claim under Chapter VI A, which is considered for computing ‘Total Taxable Income”. If assessee is denied this benefit, merely because such payment forms part of […]
Meghmani Energy Ltd. Vs DCIT (ITAT Ahmedabad) Set-off of unabsorbed brought forward depreciation and business loss allowed, even though there was no manufacturing activity during the year, as the business was not abandoned/ closed Facts- The assessee is engaged in the business of producing energy. During the course of the assessment proceedings, AO observed that […]
