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...
It is trite law that No addition can be made in the hands of power of attorney holder and further revenue has not brought on record any material evidence indicating that ownership of the said land belongs to appellant assesse. Therefore, we hold that the assessment order is passed without jurisdiction.
ITAT Mumbai held that sales tax subsidy received by the assessee is capital receipt and does not come within definition of income under section 2(24) of the Income Tax Act, 1961 and when, a receipt is not a in the nature of income, it cannot form part of book profit u/s 115JB of the Income Tax Act, 1961.
ITAT Mumbai held that assessee has duly discharged identity, creditworthiness and genuineness of the transactions of receipt of share premium of Rs. 2.25 crore received from 19 share subscribers and hence addition towards unexplained cash credit u/s 68 is unsustainable.
ITAT Delhi held that a solitary opportunity of one day to respond to show cause notice is in negation of overriding principles of natural justice accordingly revisionary order passed u/s 263 is liable to be quashed and set aside.
ITAT Mumbai held that action of AO in disallowing 50% of the depreciation and maintenance charges on the sports car is unsustainable as sports car was owned and used for the purpose of business and AO failed to establish that the sports car was not used fully for the purpose of business.
ITAT Rajkot held that department cannot take away rights of the assessee just by inadvertent mistake committed by the assessee at the time of return filing.
ITAT Pune held that deduction under section 54B of the Income Tax Act is available only if the land was used for agricultural purpose in the immediate two preceding years. in absence of the same, deduction u/s 54B ineligible.
ITAT Pune held that addition u/s 68 of the Income Tax Act merely on the basis of presumption or suspicion without any corroborated evidence is unsustainable.
ITAT Ahmedabad held that disallowance of loss on share on mere conjecture and surmises is unsustainable as assessee duly submitted all the evidences.
ITAT Mumbai held that the interest income earned by a cooperative society on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Income Tax Act.
