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 reliance on third-party statements without granting effective cross-examination amounted to a violation of ...
Income Tax : Tribunal held that Section 87A rebate is linked to total income, which includes short-term capital gains. CPC's denial of rebate o...
Income Tax : The Tribunal ruled that once an assessee validly opts for the DCF method and submits a qualified valuation report, the Assessing O...
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 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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
Income Tax : ITAT remanded the case as NFAC passed an ex parte order despite notice issues and held that a combined reassessment and ITAT effec...
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...
ITAT Ahmedabad held that the Transfer Pricing Officer cannot determine the arm’s length price of intra-group services at Nil merely based on assumptions regarding benefit or commercial necessity.
The Tribunal found no distinguishing factors between the assessee and another liquor trader whose GP rate of 3.13% had been accepted by the Department. In the absence of justification for a higher rate, the GP estimation was reduced from 4% to 3.13%.
ITAT Chennai held that there is no provision under the Income-tax Act allowing substitution of the actual cost of land with its fair market value while computing deduction under Section 80-IB(10). The Tribunal directed that deduction be computed based on profits disclosed in the books, as the land cost had already been accounted for.
Tribunal held that Section 87A rebate is linked to total income, which includes short-term capital gains. CPC’s denial of rebate on Section 111A gains was therefore unsustainable for AY 2024-25.
The ITAT held that income disclosed during a survey could not be reclassified from business income to Section 69A income through rectification proceedings. A debatable issue cannot be treated as a mistake apparent from the record.
The ITAT Lucknow held that acute depression prevented timely compliance with statutory notices and amounted to a reasonable cause under Section 273B. Consequently, the penalty under Section 272A(1)(d) was deleted.
The Tribunal held that once immunity under Section 270AA was granted and the assessee accepted the assessment without appeal, the Assessing Officer could not later alter the assessment through Section 154 rectification. The ruling reinforces the finality and certainty intended by the immunity scheme.
The assessee challenged an ex parte reassessment order that treated property investment as unexplained under Section 69. ITAT held that adequate opportunity should be provided before sustaining substantial additions and remanded the matter for fresh adjudication.
The Tribunal ruled that condonation of delay by the competent authority removes the statutory obstacle created by Section 80AC for late-filed returns. As a result, the assessee’s claim for deduction under Section 80P must be reconsidered in accordance with law.
State Bank of India Vs ACIT (ITAT Mumbai) The Mumbai Bench of the Income Tax Appellate Tribunal decided cross-appeals filed by a public sector bank and the Revenue for Assessment Year 2010-11. The case involved a large number of recurring banking-taxation issues including pension provisions, depreciation on securities, bad debts, section 14A disallowance, taxation of […]
