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 Bangalore deleted interest capitalisation, holding that investments in subsidiary were made from sufficient interest-free own...
Income Tax : ITAT Mumbai deleted the caveat attached to Section 12AB registration and Section 80G approval, holding that the grant could not be...
Income Tax : ITAT Mumbai allowed deduction under Section 37(1) for payments to insurance aggregators, holding Explanation 1 was not attracted o...
Income Tax : ITAT Panaji deleted ₹8 lakh out of a ₹9 lakh addition after accepting interest-free loans from relatives and ₹2 lakh accumul...
Income Tax : ITAT Chennai deleted the addition on insurance compensation for fire loss and the related penalty after holding the receipt had al...
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...
ITAT Chennai held that deduction under section 10A of the Income Tax Act should be computed after excluding unrealized sale proceeds from export turnover as well as total turnover.
ITAT Mumbai held that assessee is entitled to claim benefit of Article 13(4) of DTAA in respect of entire current year Short/Long Term Capital Gains, without setting of the Brought Forward Short/Long Term Capital Gains.
When additional evidence entertained by the CIT(A) has not been brought on record in accordance with Rule 46A subsequent findings on the same are vitiated because there is not even a whisper of remand report admittedly submitted in this case by the AO.
Code modifications carried out by the stock broker should not affect the claim of the assessee unless it is proved that the assessee has colluded with the stock broker in carrying out the modification
ITAT Bangalore held that revisionary power u/s 263 cannot be invoked when the order passed by AO is neither erroneous nor prejudicial to the interest of revenue.
ITAT Mumbai held that AO had only recorded general satisfaction but not with reference to the accounts of the assessee and hence has not satisfied the formula contained in rule 8D in order to compute disallowance u/s 14A of the Act.
PCIT has given his own observation which amounts to review and change of opinion or review while exercising Section 263 is not permitted by the Income Tax Statute. Thus, the PCIT was not right in exercising Section 263 in assessee’s case.
Sh. Jasdeep Singh Vs ITO (ITAT Delhi) Ld. Counsel for the assessee submitted that the assessee has furnished all the vouchers. He submitted that the Assessing Officer remarked that vouchers of Rs.5,31,271/- of Taj Mahal Hotel were not furnished is totally wrong as the same was duly furnished and there is no specific defect pointed […]
Maharashtra Hybrid Seeds Company Private Limited Vs PCIT (ITAT Mumbai) PCIT has passed the impugned revision order for the reason that the AO has not properly examined the weighted deduction claimed u/s 35(2AB) of the Act vis-à-vis Form 3CL. However, the AO has reopened the assessment and has examined the above said Form 3CL, but […]
As per explanation a to section 56 (2)(viib) of Income Tax Act it has been specifically provided that fair market value of shares shall be based on (1) value determined under rule 11UA or (2) fair market value of under lying assets whichever is higher.
