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 Surat held that Section 10AA deduction could not be reduced by imputing partners interest and remuneration where the partners...
Income Tax : ITAT Surat upheld Section 80IB deduction where partners chose not to receive remuneration or interest, holding the Assessing Offic...
Income Tax : ITAT Pune held that capitation fees collected outside the books were not eligible for Section 11 exemption and upheld reliance on ...
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 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 P.H. Chandrashekar (ITAT Bangalore) Non-disposal of objections filed by the assessee before the completion of assessment is against the procedure prescribed by Hon’ble Supreme Court in the case of GKN Driveshafts (P) Ltd (supra). Hence the same will vitiate the impugned assessment order. FULL TEXT OF THE ORDER OF ITAT BANGALORE The revenue […]
Appellant, during AY 2012-2013, paid a huge amount towards provision of toilet facilities in Government Schools where the children of employees of the Appellant were studying. While filing the returns for that year, the Appellant claimed the same amount as Corporate Social Responsibility (CSR) expenses and submitted that by incurring the expenses, its productivity improves and the loyalty of its employees are also ensured.
In so far as the certificate issued by the Tehsildar is concerned which is at page No.1A of the paper book, it does not show that from the Chidambaram how it comes to 8.5 K.M and apart from that in our view the Tehsildar is not a competent person to decide the distance.
Evolving Systems Networks India Pvt. Ltd. Vs DCIT (ITAT Bangalore) The only other ground pressed was with regard to the action of the TPO in treating provision for bad and doubtful debts as part of non operating expense while computing operating margin of comparables. Karnataka High Court has also taken a view in the case […]
ACIT Vs Groz Engineering Tools Pvt. Ltd. (ITAT Delhi) Non-residents have rendered the services outside India and have been paid in foreign currency. Therefore, no income accrues or arises in India. These nonresidents do not have any PE or business connection in India which is not doubted by the AO. Further, the Assessing Officer has […]
Receipts from sale of scrap being part and parcel of the activities and being approximate thereto would also be within the ambit of gains derived from industrial undertaking for the purposes of computing deduction u/s 80IB
Sak Industries Pvt. Ltd. Vs DCIT (ITAT Chennai) We find that the assessee has purchased 1,25,000/- equity shares of ING Vysya Bank during the month of January and February, 2009 and subsequently during the month of September, 2009 all the shares are sold. The assessee also shows the above transaction in its books of accounts […]
ACIT Vs Ramona Pinto (ITAT Mumbai) As regards the merits of the case, we find that the assessee has received an arbitration award for Rs.28 crores, upon relinquishment of her rights in the partnership of M/s. P. N. Writer & Co. Here it may be gainful to recount the brief history of the case which […]
Rameshwar Prasad Shringi Vs PCIT (ITAT Jaipur) Assessing officer has carried out exhaustive enquiries and verifications regarding source of cash deposits in the bank account during the financial year relevant to impugned assessment year. The bank statements, the cash book, the ledger accounts, the financial statements for the year under consideration and for the earlier […]
Education cess was an allowable deduction while computing the income under the head profits and gains from business or profession as it did not fall within section 40(a)(ii).
