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 held that addition of loss from traded in penny stock not justified if no information about engagement of assessee in manipulative activities and details of purchase/sales of shares submitted by him was not doubted.
Interest income earned by assessee on its investments with a co-operative bank would be eligible for claim of deduction under Sec. 80P(2)(d) of Act.
Maharashtra Film Stage and Cultural Development Corporation Ltd. Vs ACIT (ITAT Mumbai) The assessee had written off the bad debt as per the Board Resolution dt.5.6.2009 after the closing of books of accounts. The Assessing Officer had disallowed the claim on the ground that books of accounts were closed on 31.3.2009 whereas bad debts were […]
Unless, there is an evidence of remission or cessation of liability, provisions of Section 41(1) of the Act does not apply.
Held that as per agreement, the assessee will hand over physical possession of the property only after the purchaser obtains Intimation of Disapproval. Hence, till the property is not transferred as per the terms of agreement, capital gain on the same cannot be taxed.
ITAT held that merely for not producing the cash creditors before the Ld. AO even when all the necessary documents as required to prove the identity, creditworthiness and genuineness of the cash creditors are furnished by the assessee, cannot be a reasonable basis to make addition for unexplained cash credit u/s 68 of the Act.
Viral Ashish Parikh Vs ACIT (ITAT Ahmedabad) it is transpired that the assessee can be granted immunity from disallowances of expenses on account of non/short deduction of taxes provided that the assessee (payer) furnishes the certificate in the prescribed form. Thus the onus is upon the assessee. However we find that assessee has not furnished […]
DCIT Vs Virendrabhai Devjibhai Patel (ITAT Surat) ITAT observed that the transactions were done by the assessee and the real investment in the transaction was carried out by Shri. Dharmeshbhai Patel (in short SDP). The assessee and Shri. Dharmeshbhai Patel (SDP) entered into an arrangement wherein, Shri. Dharmeshbhai Patel (SDP) provided the money required to […]
ITAT Chandigarh held that the aggregator/ intermediary (OLA) acts merely as an intermediary and hence not liable to deduct TDS u/s 194C on payments made to drivers.
No Penalty u/s. 271(1)(c) for filing inaccurate particulars of income when assessee filed Revised Return offering to tax rental income
