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...
K. V. Sridhar Vs ITO (ITAT Bangalore) Sec.56(2)(vii)(a) of Income tAx Act will apply only when any sum of money is received, without consideration, the aggregate value of which exceeds fifty thousand rupees. Admittedly, the assessee received the sum of Rs.1.60 Crores for giving up his rights over some of the items of the suit […]
Imran Mohammed Iqbal Vs ITO (ITAT Ahmedabad) Considering the above facts, vis-à-vis the outstanding balance relating to M/s. Prakash Gold amounting to Rs. 12,05,026/-, the addition having been made finding it to be bogus, since the consistent finding of fact is that the transaction was entered into by the assessee with the said party not […]
Allied Agencies Vs ITO (ITAT Delhi) Hon’ble Apex Court in the case of TS Balaram Vs. Volkart Brothers 82 ITR 50 (SC) clearly held that a mistake apparent on the record must be an obvious and patent mistake and not something which has to be established by a long drawn process of reasoning on points […]
Aspam Foundation Vs CIT (Exemption) (ITAT Delhi) 1. The Assessee herein has preferred the instant appeal against the order dated 31.01.2019 impugned herein passed u/s 12AA(1)(b) r.w.s. 12A of the Income Tax Act, 1961 (for short “the Act”), by ld. Commissioner of Income tax (Exemption), New Delhi (in short “Ld. Commissioner”). 2. In this case, […]
JCIT Vs Sh. Bhanu Chopra (ITAT Delhi) The only issue involved in the instant case relates to acquiring of bonus shares and applicability of the provisions of section 56(2)(vii)(c) of the Act to the same. It was held by the Tribunal that allotment of bonus shares cannot be considered as received for an inadequate consideration […]
Bangalore Metro Rail Corporation Ltd. Vs DCIT (ITAT Bangalore) We note that Ld. CIT(A) dismissed the appeal in limine due to the delay caused in filing the appeal before him. The affidavit that was filed by the assessee before the Ld. CIT(A) reveals that, assessee was subjected to wrong professional advice on the issues that, […]
Frick India Ltd. Vs DCIT (ITAT Delhi) Assessee had made a claim of depreciation of Rs 60% on UPS but the AO restricted the claim of depreciation @ 15% only on the UPS and disallowed the excess 45% namely, Rs.50,320/-. It was submitted on behalf of the assessee that it is settled proposition of law […]
ACIT Vs Keyur Hemant Shah (ITAT Mumbai) Upon perusal, the undisputed facts that emerges are that the assessee has acquired the rights in a duplex flat on 1 2th & 1 3th floor front facing the road admeasuring 1961.75 Square Feets & terrace measuring 881.5 Square Feets as per the attached layout plan along with […]
The Income-tax Act does not authorize levy of tax on the same amount of income more than once. A particular amount of income can be assessed only for once for a particular assessment year.
Agarwal Packers & Movers Ltd Vs DCIT (ITAT Delhi) Merely because if a claim is rejected by Assessing Officer, would not ipso facto made the assessee liable for penalty Now, coming to the penalty confirmed in respect of addition sustained on account of disallowance of claim of depreciation. One of the averments of the assessee […]
