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...
Government Corporation is like any other assessee before the tax authority and cannot be allowed to plead that on this count it be given a preferential treatment and be allowed to escape the responsibilities of representing their case before the other governmental authorities including the tax authorities.
We hold that since the receipt of interest is intrinsically linked to the primary activity of allotment of plots in the industrial park, it is hereby held that the interest is derived from the eligible business and thus, eligible for the purpose of direction u/s. 80 IA.
Based on the merits of the case on a beneficial note we are of the opinion that since the GPA holder namely Sri. Yarlagadda Ravi Chandra Prasad has disclosed the income from the sale of plots gifted by his sister in his return of income and discharged his liability of taxes on returned income, in his return of income, the same cannot be taxed once again in the hands of the assessee.
The narration of the professional fee bill by the payee is not at all material in rejecting the professional fee bill.
Held that if assessee is not eligible for credit in the year under consideration then credit for the same should be allowed in the year in which tax has been deducted by the deductor.
The interest amount has been actually paid by the assessee through Overdraft/Cash Credit account and, therefore, set aside the disallowance made under Section 43B of the Act.
ITAT held that for the AO to assume jurisdiction u/s 271(l)(c), proper notice is necessary and the defect in notice u/s 274 of the Act vitiates the assumption of jurisdiction by the learned Assessing Officer to levy any penalty.
Additions made primarily on basis of oral evidence of third parties, without giving fair opportunity of hearing and right to cross-examine those parties to assessee not sustainable
Neelkanth Town Planners Pvt. Ltd. Vs DCIT (ITAT Delhi) We find that the Assessing Officer has issued the penalty notice stating that, subsequently penalty notice u/s 271(1)(c) was issued on 20.03.2017, fixing the case for hearing on 24.03.2017. The assessee was asked to why penalty u/s 271(1)(c) should not be imposed upon you for concealment […]
Uma Strips Ltd. Vs DCIT (ITAT Delhi) In this case ITAT find that there is no live link presented by the AO between the material available with him i.e. the report of the investigation and to reason to belief that the assessee has tried to evade the assessment for the particular year in question. Simply […]
