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...
Ashoka Buildcon Limited Vs ACIT (ITAT Pune) It is observed that the assessee allegedly purchased raw materials through the Hawala purchase bills and thereafter consumed the same in the power project In such a situation, it cannot be said that the entire amount of hawala purchase bills requires addition. The Hon‟ble jurisdictional High Court in […]
Ashok Kumar Banthia Vs DCIT (ITAT Jodhpur) It is also an admitted fact that the affidavit filed by Shri Ashok Todi, which is at page No. 13 of the paper book who was director of M/s Lux Industries Ltd. had categorically admitted that on 19/04/2011, the assessee was carrying amount of Rs. 25.00 lacs in […]
ACIT Vs Dong Woo Surface Tech India Pvt. Ltd (ITAT Chennai) Facts- The parent company M/s. Dongwoo HST Co. Ltd renders supervisory services to the assessee by dispatching expatriates to India for carrying out work for which the assessee company has agreed to pay supervisory and managerial fees vide agreement dated 25.12.2007. The scope of […]
If a person adopts the provisions of section 44AD and declares income @ 8% of the turnover, then the assessee is not required to maintain the books of account as provided for under section 44AA in respect of business covered under the presumptive taxation scheme of section 44AD.
ITO Vs Rachna Arora (ITAT Chandigarh) Solitary issue in the present appeal pertained to claim of exemption u/s 54 of the Act of Long Term Capital Gains earned by the assessee being invested in another property. The shares of three co-owners namely the assessee, her son in law and her daughter in the purchased property […]
Spytech Buildcon Vs ACIT (ITAT Jaipur) As per sub-section (3) and (4) of section 43CA, the benefit of prior agreement is granted if the consideration is received at the time of agreement other than cash. In the case in hand, the booking is claimed to have been made prior to 01/04/2013 whereas the sale deeds […]
Shri Rajesh Chunara Vs ITO (ITAT Jaipur) On perusal of the AIR information, it is noted that the information talks about the assessee and another person by name of Ashok K Chanara, name of the bank which has issued the credit card, the transaction amount of Rs 3,82,079/- and date of transaction i.e, 31.03.2008. The […]
Since the jurisdiction of PCIT(E) was being limited to verification of two issues, one with regard to the ‘lease hold land’ and the second about the fee concession and on both accounts, CIT (E) had not drawn any adverse inference and, therefore, the order of CIT(E) denying the registration u/s 12AA was bad in law.
PCIT was not justified in assuming the jurisdiction under section 263 when the case of assessee which was selected for limited scrutiny was never converted to full scrutiny and assessee had submitted all the details as called for by AO from time to time for the reasons for which the case was selected for limited scrutiny.
Bombay Chamber of Commerce & Mackinnon Mackenzie Building Vs ITO (ITAT Mumbai) Concluion: In present facts of the case, while allowing the appeal, it was held that the activities of Assessee comes under “charitable purpose” as defined under Section 2(15) of the Act and is eligible for exemption, because the amounts received by the assessee […]
