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 : Bengaluru ITAT restored section 12AB and consequential section 80G applications after the trust produced fire and structural safet...
Income Tax : Mumbai ITAT restored a section 12AB registration application, holding absence of an irrevocability clause alone cannot justify rej...
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 : 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...
Booking of bare shell of a flat was a case of construction of house property and not purchase, and since construction had been completed within three years of sale of original asset, assessee was duly entitled to deduction under section 54.
ITO Vs Sejal Gopalbhai Shah (ITAT Ahmedabad) The issue under consideration is whether capital gain will be taxed in the hands of general power of attorney holder with respect to land sold? ITAT states that, the assessee was just general Power of Attorney holder with respect to the lands in dispute. This fact has not […]
Dashrathbhai G. Patel Vs DCIT (ITAT Ahmedabad) Unlawful reference u/s Sec 142A in absence of tangible material and adopting FMV under different section 55A was in gross contradiction of law Conclusion: Since AO had merely issued reference to DVO under s.142A without any background or reasons and the Valuation Officer, in turn, had conferred within […]
The issue under consideration is whether Additional Depreciation u/s 32(1)(iia) will be allowed if the assessee engaged in generation of electricity?
M/s. Charbhuja Marmo (India) Pvt. Ltd. Vs PCIT (ITAT Delhi) Invalid Reassessment Proceedings can not be Revised Under Section 263 by PCIT It is well settled Law that since re-assessment proceedings are invalid and bad in law, therefore, such proceedings could not be revised under section 263 of the I.T. Act. It is also well […]
ITAT states that, in the given facts and circumstances and going by the clauses of the Scheme and reading them harmoniously and together the Tribunal held that the transfer of Lift Division comes within the purview of Section 2(47) of the Act but cannot be termed as a slump sale.
whether deduction u/s 54 can be denied if assessee initially purchased land with a view to put up construction but later changed his mind and instead, purchased a residential house?
When Transport Operators furnish their PAN to the person responsible for making payments to them, the Transport Operators would be outside the purview of TDS u/s 194C and that immunity from TDS u/s. 194C(1) in relation to payments to transporters, applies transporter and non-transporter contractees alike.
Addition under section 68 on account of high premium was unjustified as there was a clear lack of inquiry on the part of AO once assessee had furnished all the relevant material.
After considering audited balance-sheet, opening cash balance and closing cash balance, AO had not doubted closing cash balance of cash as on 31-3-2011. Also, assessee had pointed out that over all cash balance had remained the same. Thus, lesser opening cash balance as on 1-4-2002 did not call for any addition during the year under consideration as no unexplained cash was introduced in books of account.
