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...
ITAT Ahmedabad held that donations which are not voluntary in nature cannot be treated as corpus donation and hence not eligible for deduction u/s 11(1)(d) of the Income tax Act
ITAT Pune held that AO had not brought any material indicating the existence of an arrangement between the assessee company and its foreign AE, as a result of which more profits than ordinarily have been produced to the assessee company. Hence, provisions of section 10B(7) r.w.s. 80IA have no application.
Sajjanraj Mehta Vs ITO (ITAT Mumbai) During the appellate proceedings, the appellant vide letter dated 03/04/2018 submitted that the AO has made addition ignoring the 1st and 2nd proviso to section 56(2)(vii)(b) inserted by Finance Act, 2013 w.e.f. 01.04.2014. The appellant was allotted flat no. 502 in the building Kamla Astral, Dadar for a total […]
ITAT Bangalore held that disallowance u/s 40(a)(i) unsustainable as assessee is not liable to deduct TDS for reason that consideration received couldnt have been regarded as income deemed to accrue or arise in India.
ITAT Ahmedabad held that denial of exemption u/s 54F of the Income Tax Act for a mere technical default, beyond the control of assessee, in not getting the new property registered within the stipulated time period of two years is unjustified.
ITAT Bangalore held that any ambiguity in a taxing statute should ensure the benefit of the subject/ assessee. Accordingly, the taxing provision of late fee in respect of late filing of TDS return came into force from 01.06.2015. Hence, late fees u/s 234E cannot be levied before 01.06.2015.
Nandini V. Kalgutkar Vs ITO (ITAT Bangalore) On perusal of section 41 of the IT Act, it is evident that it is a sine qua non that there should be an allowance or deduction claimed by the assessee in any assessment in respect of loss, expenditure or trading liability incurred by the assessee. Then, subsequently, […]
ITAT Kolkata held that penalty u/s 271AAB of the Income Tax Act cannot be levied on the assessee based on the disclosure made by other person during the course of search proceedings.
Dipakkumar Ishwarlal Panchal Vs ITO (ITAT Ahmedabad) Admittedly the concealment/furnishing of inaccurate particulars of income, for which act penalty under section 271(1)(c) in the present case has been levied, related to the income added as per the provisions of section 56(2)(x) of the Act. More particularly on account of the fact that actual consideration paid […]
ITAT Chandigarh held that Ld. NFAC ignoring the submissions and the documents being sought to be filed as additional evidences and dismissal of assessees appeal without even commenting on the submissions or the documents is patently and legally wrong.
