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 : Mumbai ITAT held sections 234B and 234C interest must be excluded from tax effect, dismissing the Revenue's appeal as below the CB...
Income Tax : Mumbai ITAT deleted a ₹6.50 lakh section 68 addition, holding repayment of an earlier bank-transferred loan cannot be treated as...
Income Tax : ITAT Bengaluru deleted ad hoc commission and interest disallowances, holding Section 40A(2)(b) inapplicable to interest paid to a ...
Income Tax : Mumbai ITAT condoned a 917-day delay and directed that bogus purchase addition be limited to the gross profit element where sales ...
Income Tax : Mumbai ITAT restored section 12AB registration and 80G approval applications for fresh adjudication after finding relevant aspects...
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...
Haresh Khiamal Nanwani Vs ACIT (ITAT Mumbai) The issue under consideration is whether ACIT is correct in treating the sale of investments in immovable properties as a business activity rather than considering it as capital gains, in spite of the appellant holding the flats for more than 36 months. Assessee state that, he had shown […]
Comparison of activities undertaken /functions performed was important for determining the comparability between controlled and uncontrolled transactions/entity.
Bimla Devi D/o. Shri Phool Chand Vs ITO (ITAT Delhi) The issue under consideration is whether the ex-parte order passed by CIT(A) without discussing merit of the case is justified in law? ITAT studied the matter and state that it is pertinent to note that the CIT(A) has passed ex-parte order and dismissed the appeal […]
The issue under consideration is whether the officer is correct in rejecting claim for deduction u/s 10AA of the Act on the amount of transfer pricing adjustment voluntarily made by the assessee?
ACIT Vs PNB Gilts Ltd. (ITAT Delhi) The issue under consideration is whether diminution or reduction in price of the stock-in-trade can be allowed while computing business income? In the given case, the assessee, PNB Gilts Ltd is a Non-Banking Financial Company (NBFC), filed its return of income declaring total income. The return of income […]
B. M. Sarin Vs ACIT (ITAT Delhi) The appeal filed before us is delayed by 125 days. The assessee received the order of the ld CIT(A) on 15.09.2018, however, the appeal was filed on 18.12.2019. The assessee preferred request for condonation of delay stating that when the order of the ld CIT(A) was received, the […]
Reassessment was justified by the income tax department against former Indian Cricket Team Captain Krishnamachari Srikanth and non compete fee of Rs. 7.50 crores was exempt from tax being capital receipt;
Shri I. Seshagiri Rao Vs ITO (ITAT Hyderabad) The issue under consideration is whether the capital gains will be applicable where assessee signed a release deed waiving all his rights, title and interests in the property? During the assessment, the A.O. found that the assessee had entered into a release deed and also a supplementary […]
Gurgaon Investment Ltd. Vs DDIT (ITAT Mumbai) The issue under consideration is whether addition made on account of Transfer Pricing Adjustment towards interest on debentures invested in the Associated Enterprise (AE) Vital Construction Pvt. Ltd. (VCPL) is justified or not? Assessee, a non-resident company incorporated in Mauritius. Through one of its AEs based in Mauritius […]
The issue under consideration is whether TDS u/s 194H is applicable on discounts allowed for prepaid SIM Cards/ Talktime as distributor margin?
