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 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 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 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...
SNS Constructions P. Ltd. Vs ITO (ITAT Delhi) In this case there was a difference of Rs. 14,25,463/- between books of account and the payment received as per Form 26AS. The Assessing Officer treated the amount of Rs. 14,25,463/- as undisclosed receipts and added the same to the income of the assessee. Thereby the Assessing […]
Merely that there were huge turnover i.e. deposits and withdrawal in the bank account of the assessee without correlating the same with the accounts and with the nature of the business of the assessee, in our view, that was not enough to form a belief of escapement of income of the assessee for the assessment year under consideration.
There is no prohibition for the NRI for accepting the gifts from the relatives. In the absence of any prohibition, no adverse inference can be drawn against the assessee based on the prevailing system in the society.
Stella Maris Church Malpe Vs ITO (Exemptions) (ITAT Bangalore) We notice that the date of hearing of the appeal i.e. 23.12.2021 was announced on the earlier occasion on 6.11.2021. On that day, the counsel of the assessee Smt. K. Soumya, Advocate has taken note of the date of hearing and hence there was no necessity […]
Suzuki Suiting Pvt. Ltd. Vs I.T.O (ITAT Ahmedabad) Admittedly, the difference in the price of the share issued by the assessee and its fair market value and calculated and certified by the C.A. is barely 1% of its total value. The difference being Rs. 2.81 against the share value of Rs. 200/-, it is meager […]
Infosys Ltd. Vs DCIT (ITAT Bangalore) This stay petition is filed by the assessee seeking extension of stay granted by the Tribunal in SP No.83/Bang/2021 dated 29.10.2021 against the outstanding demand of Rs.1029,20,96,950 for the assessment year 2012-13. 2. The ld. AR submitted that the extension of stay was earlier granted by the Tribunal in […]
Canara Housing Development Company Vs DCIT (ITAT Bangalore) ITAT held that advances given for purchase of land in the normal course of business of carrying on real estate development, if not recoverable could be allowed as either trading loss u/s 28 of the Act or as expenditure u/s 37 of the Act. In fact, the […]
Interest income on FDR which was earned out of the funds placed with the bank by utilizing the bank overdraft limit was to be considered as business income and not as income from other sources.
Ashok Popatbhai Chaudhari Vs ITO (ITAT Mumbai) The Income Tax Officer in this case has made 100% addition on account of bogus purchase resulting in disallowance of Rs. 56,085/-. Upon assessee’s appeal ld. CIT(A) confirmed the same. It is settled law that when sales are not doubted, 100% disallowance for bogus purchase cannot be done. […]
Om Prakash & Sons Vs ITO (ITAT Dehradun) The issue pertains to levy of fee u/s 234E for the A.Y. 2013-14, 2014-15 and 2015-16. The amendment has been brought w.e.f. 01.06.2015. Hon’ble Karnataka High Court in case of Fatehraj Singhvi & Ors. vs. UOI & Ors. 2016 (9) TMI 964 is in favour of the […]
