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...
ITO Vs Terapanth Foods Limited (ITAT Rajkot) It is pertinent to note that the CIT(A) has categorically mentioned that Section 195 of the Act would apply only if payment is made which is chargeable under Income Tax Act 1961. The Assessing Officer has not given any reason as to why the chargeability of tax under […]
Appeal by Anita Oberai against CIT(A) denial of exemption u/s.54F for two adjacent flats purchased. ITAT Pune sets aside the order in favor of the assessee.
BMC Software Asia Pacific Pte Ltd. Vs ACIT (ITAT Pune) The brief facts relating to the issue are that the assessee is a company incorporated under the laws of Singapore and is a tax resident of Singapore, therefore, the assessee is a non-resident from an Indian Income-tax perspective. We note that the assessee declared an […]
Lahari Laminates Pvt. Ltd. Vs DCIT (ITAT Raipur) With reference to the first issue i.e. incorrect allowance of depreciation of Rs.59,45,940/- on bogus purchase of Plant & Machinery, the learned counsel for the assessee fairy submitted that where the A.O. has made disallowance on Plant & Machinery, it was permissible for the A.O. to disallow […]
Raj Enterprise Vs DCIT (ITAT Surat) The Hon’ble Gujarat high Court in CIT Vs Golden Finance (supra) held that where Assessing Officer made addition on account of unexplained investment on basis of document impounded during survey and statement recorded by partner of assessee-firm, in view of fact that said documents did not suggest that noting […]
Smt. Preeti Rathi Vs ITO (ITAT Pune) The first issue raised herein is against not allowing deduction towards brokerage of Rs.80,000/- paid by the assessee at the time of purchase of the property in the computation of capital gain towards. The claim of the assessee is that she paid a sum of Rs.80,000/- as brokerage […]
Maheshwari Woods Pvt. Ltd. Vs DCIT (ITAT Bangalore) Amended provisions of section 43B as well as 36(1)(va) of the I.T.Act are not applicable for the assessment years under consideration as these are applicable from assessment year 2021-2022. By following the binding decision of the Hon’ble jurisdictional High Court in the case of Essae Teraoka Pvt. […]
In the instant case, there is no relation whatsoever between the interest expenditure from a mortgaged loan and the payment received for rendering certain services. Advancing interest free loans to the employer company cannot be a ground for claiming deduction of interest expenditure from the salary income received from it.
Hapur Pilkhuwa Development Authority Vs ACIT (ITAT Delhi) Learned CIT(A) has not allowed the benefit of excess utilization of earlier years, claimed by the assessee by raising additional ground. Ld. AR for the assessee contended that this issue is also covered in favour of the assessee by the order passed by coordinate Bench of Tribunal […]
No reason is assigned for not following Rule of Consistency. The Revenue is under legal obligation to be consistent in its approach regarding taxability of any item. It cannot be purely on the whims and fancies of the Assessing Officer.
