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 Special Bench held that omission of scrutiny category in a Section 143(2) notice is a procedural defect curable under Section...
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 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 Delhi deleted the section 69A addition of ₹33.50 lakh after holding the intercepted cash formed part of the disclosed prope...
Income Tax : ITAT Delhi deleted Section 270A penalty as notices lacked specific Section 270A(9) charge and the expenditure claim involved a deb...
Income Tax : ITAT Bangalore restored six Section 153A search assessment appeals to the AO, subject to ₹50,000 cost per appeal for repeated no...
Income Tax : ITAT Bangalore deleted a Section 270A penalty as the notice and penalty order failed to specify the exact statutory limb of under-...
Income Tax : ITAT Bangalore held disputed salary is taxable only if it became due and remanded the matter to verify the employment terms and em...
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...
A rectification, on the other hand, can be filed only after assessee receives an intimation u/s 143(1) or assessment order is passed and intimated to the assessee. So rectification application is more appropriate a remedy when assessment is complete and assessee claims on the basis of the assessment record available with the Ld. AO, that there is a mistake apparent in the order arising from the assessment record and same be rectified.
ITAT Mumbai held that mere delay in filing Form No. 67 as per the provisions of Rule 128(9) will not preclude the assesses from claiming the benefit of foreign tax credit in respect of tax paid outside India.
CIT(A) was justified in sustaining the adjustment u/s 143(1)(a) by means of disallowance made in these cases for late deposit of employees’ share to the relevant funds beyond the date prescribed under the respective Acts.
R. Yuvaraj Vs ITO (ITAT Chennai) In the assessment order, the Assessing Officer asked the assessee to prove the source of the additional amount of ₹.52 lakhs found deposited in his savings bank account with Andhra Bank, Medavakkam. Since the assessee has not furnished any evidence for having received money from the purchaser Shri Parthasarathy, […]
ITAT Chennai held that assessee already admitted the fact of not disclosing four properties in the books of accounts and thereafter couldn’t explain the source of the purchase of four properties. Claiming that the same is gift from her husband is just an afterthought. Accordingly, additions sustainable.
ITAT Ahmedabad held that once similar Long Term Capital Gain offered and exemption claimed by the co-owner is already accepted by the revenue, another co-owner (assessee) entitled for similar relief.
ITAT Delhi held that the deemed valuation of Section 50C of the Income Tax Act cannot be invoked as the said section is applicable in the case of seller of the property only while the appellant is a buyer.
ITAT Pune denied exemption of capital gain under section 10(38) of the Income Tax Act by applying principle of fraud as the transaction of purchase and sale of shares were construed with the intention to bring undisclosed income into books of accounts.
ITAT Bangalore held that the employees contribution to PF and ESI should be remitted before the due date as per explanation to section 36(1)(va) of Income Tax Act for it to be allowable under Section 43B of the Income Tax Act.
ITAT Bangalore held that irrevocable possession and irrevocable power of attorney to transfer/ sell to the developer makes it clear that absolute possession of land is given to the developer and the amounts to transfer within the meaning of section 2(47)(v) of the Income Tax Act.
