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...
Since the stock sold was very old, it was not strange to sell them at reduced rate and AO had no authority to compel assessee as to at which rate, assessee had to make sale of its goods, hence, deduction of trading loss on sale of stock was allowable.
As CIT(E) rejected assessee’s application for registration ex-parte under section 12AA without affording reasonable opportunity of being heard to assessee in terms of section 12AA(1)(b)(ii), therefore, the matter was restored back to the file of the CIT (Exemptions) for fresh examination and adjudication.
Reassessment order passed u/s 147 r.w.s 143(3) by issuing notice under section 148 but without issuance of notice u/s 143(2) was invalid and void ab initio and thus liable to be quashed.
Assessee-trust was entitled to claim excess expenditure over income being deficit to be carried forward for setting it off in subsequent years as income derived from trust property had to be computed on commercial principles and if commercial principles were applied then adjustment of expenses incurred by trust for charitable and religious purposes in earlier years against income earned in subsequent year would be regarded as application of income in the subsequent year having regard to benevolent provisions contained in section 11 and such adjustment would be excluded from income of the trust under section 11(1)(a).
Nature of income which had been rental earning from the house property would not change just because it had been received by assessee-company formed with the object of carrying out business as builder and developer, therefore, AO had, rightly assessed the rental receipts under the head Income from house property.
Assessee was entitled to claim long term capital gain exemption under section 54 on sale of property and the same could not be denied on the ground that income tax return was not filed declaring such income.
Where no satisfaction had been recorded by the AO for initiation of penalty in the assessment order the same cannot invite the assessee to penalty under section 271(1)(c)
Recently in the DCIT vs. Compass Group (India) Support Services P. Ltd. ITAT Chennai decided on 12.06.2019, one of the ground taken by Revenue in the appeal was that the Learned CIT(A) has erred in providing relief to the assessee by holding that the appellant was entitled to depreciation on non compete fee as an intangible asset under Section 32( l)(ii) of the Income Tax Act, 1961 (hereinafter referred in short as the Act).
Sudip Roy Choudhury Vs JCIT (TDS) (ITAT Kolkata) in the present case, the assessee deducted the TDS and deposited the same. Even there was no failure to submit return in Form 26Q. There was only failure for its timely submission – which by all counts is a technical breach. Further the delay had happened due […]
DIC Fine Chemicals Pvt. Ltd. Vs DCIT (ITAT Kolkata) It was a case where on account of the disallowance made by the AO, the loss returned by the assessee stood converted into positive sum and made the appellant eligible to claim deduction u/s 10AA of the Act. We thus find that as per the position […]
