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 Chennai remanded the Section 56(2)(vii)(b) addition, directing the AO to adopt the stamp duty value as on the agreement date ...
Income Tax : ITAT Pune allowed deduction under Section 80P(2)(d) on ₹9.12 lakh interest and dividend earned from co-operative banks and partl...
Income Tax : ITAT Chennai restricted the Section 69A addition to peak credit in undisclosed bank accounts and directed taxation at 30% instead ...
Income Tax : ITAT Bengaluru quashed reassessment after holding that a Section 148A(b) notice granting less than seven days to respond is legall...
Income Tax : ITAT Pune upheld the Section 54F deduction on purchase of a residential property from the assessee's husband and dismissed the Rev...
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...
Central Government is pleased to appoint Shri G. S. Pannu, Vice-President of the Income Tax Appellate Tribunal, as President of the Tribunal in officiating capacity with effect from the forenoon of 6th September, 2021, till the regular President is appointed or until further orders, whichever is earlier.
Penalty under Section 272A(2)(k) could not be imposed merely for the delay in filing Quarterly TDS Statement as the entire tax along with interest thereon had been deposited in to Govt. account and later, assessee filed quarterly TDS returns for all the quarters and Revenue had not suffered any loss because tax deducted was already deposited on time and there was mere technical or venial breach to provisions contained in Act for submitting return/statements of TDS.
Indian Geotechnical Services Vs ACIT (ITAT Delhi) Conclusion: Deduction on payment of employees contribution towards PF/ESI made before the due date of filing Income Tax Return under section 139(1) was allowable as the amended provisions of section 43B as well as 36(1)(va) were not applicable for the assessment year under consideration. Held: Assessee raised the […]
ITO Vs Braitrim India Pvt. Ltd. (ITAT Mumbai) Admittedly, as the remittances made by the asessee before us, viz. BIPL to M/s Braitrim UK Ltd. had been held to have been made towards reimbursement of expenses (without any mark-up), therefore, in the absence of any income element chargeable to tax in the hands of the […]
Suraj Pulses Pvt. Ltd. Vs PCIT (ITAT Delhi) We find that as far as the reasons recorded, though there is a specific mention about amount of 20,50,000/- received by way of accommodation entry, however neither there is any mention from whom the assessee had received the amount nor what is the nature of the entry […]
Integlobe Aviation Ltd. Vs ITO (ITAT Delhi) The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled that the bonafide assessee is not liable to pay the interest on the amount of shortfall in tax deducted at source (TDS). The Assessee, M/s. Interglobe Aviation Ltd. claimed that short deduction in case of M/s. Federal Travel […]
An interest-free debt funding of an overseas company in the nature of a special purpose vehicle (SPV), with a corresponding obligation to use it for the purpose of acquisition of a target company abroad, could not be compared with a loan simpliciter, and be, subjected to an arm’s length price adjustment on account of notional interest on a loan by assessee company to its fully owned foreign subsidiary as balances reflected on account of exchange difference for notional conversions could not be treated as outstanding dues.
Vedvan Consultants Pvt. Ltd. Vs DCIT (ITAT Delhi) 1. In view of what has been discussed above and following the decision rendered by the Hon’ble jurisdictional High Court in case of CIT vs. Bharat Hotels Ltd. (supra), we are of the considered view that the assessee company is not entitled for deduction of Rs.4,29,110/- u/s […]
Payments made by the Applicant to the Non-resident Company cannot be considered as royalty payments and hence, it does not give rise any income chargeable in India under the Indian IT Act. Held that there is no requirement to deduct TDS under Section 195 of the IT Act.
Karnataka Soaps & Detergents Limited Vs ACIT (ITAT Bangalore) The assessee had set up a branch office in Mumbai. The branch office was housed in a leased premises (leave and licence deed was executed on 5th December, 2013). The leased premises required certain repairs and renovation amounting to Rs.12,95,867. The assessee had claimed the above […]
