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...
ITAT Jaipur held that addition solely on the basis of PEN drive found during the search proceedings, without checking the veracity/ reliability of the data recorded in the PEN drive, is unsustainable in law.
ITAT Mumbai held that disallowance under section 14A of the Income Tax Act read with rule 8D cannot be more than the quantum of exempt income.
ITAT Mumbai held that as expenses are not specifically disputed; books of accounts admitted to be correct and payments made through banking channel, disallowing the expenses at whims and fancies is unsustainable in law. Department is required to follow the rule of consistency.
ITAT Mumbai held that TPO has jurisdiction to examine the quantum of expenditure, however, TPO has no jurisdiction question the assessees need or prudence for making payment for the expenditure.
ITAT Bangalore held that PCIT justified in invoking jurisdiction u/s 263 of the Income Tax Act as AO merely accepted the additional income offered by the assessee without verifying the bogus purchases and amount recorded in books.
ITAT Mumbai held that addition u/s 68 justified as investment made by the companies in the assessee company lacks trust and details of transactions submitted by the assessee didn’t inspire confidence as the credibility of the companies are questionable as per the financials of the same.
ITAT Delhi held that ESOP expenditure to acquire shares of parent company is allowable as and when the expenditure is paid by the assessee to the parent company. Actual payment of the expenditure and time of expenditure needs to be verified
ITAT Mumbai held that development rights in the plot of land were transferred to the builder in the financial year 2000–01. Provisions of section 50C were effective only from 1st April 2003 and hence the same are not applicable in the present case.
ITAT Bangalore held that AO completed the assessment completed without verification of exemption claimed by the assessee u/s 10(1) and hence Pr. CIT validly initiated proceedings under section 263 of the Income Tax Act.
ITAT Delhi held that there is no liability to deduct TDS on interest on savings bank account and interest of compulsory deposit account as per the provisions contained u/s 194A of the Act. Accordingly, disallowance u/s 40(a)(ia) unsustainable.
