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...
BBG Metal Syndicate Pvt Ltd Vs DCIT (ITAT Cuttack) Admittedly, the Hon’ble Supreme Court in the case of Checkmate Services Pvt Ltd(supra) has categorically held that the employees contribution to PF and ESI to the extent it is not paid within due date prescribed under the PF Act, is not allowable u/s.36(1)(va) of the Act. […]
ITAT Ahmedabad held that consideration received by the assessee, being an entry provider, as accommodation entry cannot be taxed entirely as business income.
ITAT Chennai held that payment towards purchase of wet grinders and accessories were mainly made to a cottage industry and accordingly such payment is not hit by the provisions of section 40A(3) as payment made to a cottage industry is excluded under rule 6DD(F) of the Income Tax Rules.
ITAT Bangalore held that if for reasons given by CIT(A) working capital adjustment cannot be allowed to the profit margins, then the comparable uncontrolled transactions chosen for the purpose of comparison will have to be treated as not comparable in terms of Rule 10B(3) of the Rules. Matter remanded to re-compute the working capital adjustment.
ITAT Chandigarh held that suspicions entertained by the Revenue cannot be the basis of unsettling the valid order and hence revisionary order proceeded entirely on presumptions, conjectures and surmises is liable to be quashed.
ITAT Bangalore held that expenditure of ESOP cross-charge is wholly and exclusively for the purpose of business, said amount remitted by the assessee to ultimate holding company, and hence allowable expenditure u/s 37(1) of the Income Tax Act.
Income tax addition could not be made under section 43CA in absence of element of transfer. When assessee was not an owner of any asset, there couldn’t be any question of transferring the same to someone else whether provisions of sec43CA was complied with or not would be a secondary issue.
ITAT Delhi held that addition based on DVO report regarding construction of cost of property unsustainable as DVO applied CPWD rates, however, it is settled law that State PWD rate is better guiding factor for arriving at cost of construction of the property.
ITAT Hyderabad held that addition towards unexplained investment sustained as assessee couldnt explain the source of investment. Onus is on the assessee to explain the source of investment.
If the recipient of income has deposited tax timely in the form of advance tax to revenue, there is no loss suffered to revenue, and no liability for penal interest can be invoked.
