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 : The Tribunal held that cash deposits during demonetisation cannot be treated as unexplained when backed by audited books, invoices...
Income Tax : The Tribunal ruled that non-specification of the precise statutory charge under sections 270A(2) and 270A(9) violated principles o...
Income Tax : The Delhi ITAT held that institutions engaged in preservation of environment fall under a specific charitable limb under Section 2...
Income Tax : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
Income Tax : ITAT Bangalore restored the Section 54F claim after noting that medical issues and portal difficulties prevented timely filing of ...
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 : Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(...
Income Tax : Learn about hybrid hearing guidelines of Income Tax Appellate Tribunal (ITAT) Indore Bench, effective from October 9, 2023, offeri...
Income Tax : The ITAT Ahmedabad held that reassessment under Section 147 was invalid because the Assessing Officer reopened the case for fictit...
Income Tax : The Tribunal held that tax authorities cannot reject documentary evidence solely by labeling the explanation as an afterthought. P...
Income Tax : ITAT Bangalore dismissed the Revenue’s appeal after holding that the Assessing Officer failed to provide adequate reasons for de...
Income Tax : ITAT Delhi held that penalty proceedings under Section 271(1)(c) should not be decided before disposal of the related quantum appe...
Income Tax : The Tribunal held that two sale deeds represented the same transaction because one was merely an amendment correcting a survey num...
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...
Income Tax : Bhagyalaxmi Conclave Pvt. Ltd. Vs DCIT (ITAT Kolkata) In the remand report, the AO clearly stated that notice u/s 143(2) of the Ac...
The issue under consideration is whether TDS u/s 194H is applicable on discounts allowed for prepaid SIM Cards/ Talktime as distributor margin?
Since AO had not considered revised return of income which was filed within prescribed period of limitation for the difference between income disclosed in return and total receipts as per Form 26AS, therefore, the matter was remanded back to AO with direction to verify the fact and grant relief to assessee in accordance with law.
Landbase India Ltd. Vs. ACIT (ITAT Delhi) Depreciation on the golf course – Whether depreciation should be allowed considering it as ‘plant and machinery or land or building. Matter: 1. Applicable Rate of Depreciation on Gulf course. Facts of the case 2. The Assessee is a company engaged in the business of operation of golf […]
Since neither AO conducted any enquiry nor had brought any clinching evidences to disprove the evidences produced by assessee and assessee had furnished all details including bank statement, share brokers note, ledger account copies, share certificates, in support of purchase and sale of shares and mode of payment and receipts of proceeds thus, no addition could be made under section 68 as AO had merely relied on investigation wing report without disputing vortex of evidences furnished by assessee.
Issues have been examined by the A.O and just because the opinion as arrived by the A.O is at a variation of the opinion of the learned Pr. CIT, would not grant the learned Pr. CIT the powers of revision u/s 263 of the Act.
Nikon Systems Pvt. Ltd Vs ACIT (ITAT Delhi) Admittedly, fire occurred during the year, the traded goods of the assessee are lost during the year due to fire. Such traded goods were the stock in trade of the assessee. Undoubtedly, the traded goods were insured with the insurance Co for any loss due to fire. […]
When the company got back its funds on the same day, it cannot fall into the definition of the deemed dividend.
Smt. Zeelia Zeena Mayzean Shenoy Vs ITO (ITAT Bangalore) The issue under consideration is whether or not income paid on interest against the fixed deposits can be said to have been incurred ‘wholly and exclusively’ for the purpose of earning interest income from fixed deposits? In the present case, the assessee made fixed deposit with […]
ACIT Vs Emaar MGF Construction Pvt. Ltd (ITAT Delhi) We find that the assessee is under the obligation to part away with the source of income to the holding company and it was not its volition alone, to give away the revenue that could have been otherwise accrued to them. An agreement entered into by […]
The assessee has written off the assets which were not found/traceable and as the assets were scattered over different areas, the entire exercise of listing of such fixed assets got crystallized during the year and hence, the booking of the expenditure under head prior period expenses of fixed assets, merits to be allowed in the hands of the assessee.
