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...
Gifts are normally made by relatives out of natural love and affection and do not necessarily require any particular occasion. Assessee had discharged his burden by furnishing necessary details before AO. In the absence of anything to show that the transactions were by way of money laundering,
ITO (International Taxation) Vs Monish Kaan Tahilramani (ITAT Mumbai) The only surviving question that arise for consideration is manner of computation of the gains. It is noted that the assessee has paid upfront payment to the extent of 5% upon allotment and the balance payment has been spread over by way of installment during the […]
Wadia Ghandy & Co. Vs ACIT (ITAT Mumbai) The assessee is a Solicitor Firm and was initially constituted by three partners who were eminent Lawyers. He submitted, all the three partners had created huge goodwill which was definitely exploited by the firm. He submitted, for use of goodwill, the firm was required to pay 5% […]
Additions in respect of which penalty was confirmed has been accepted by Hon’ble Karnataka High Court, leading to substantial question of law. Thus when Hon’ble High Court admitted substantial question of law on additions, it becomes apparent that issue is certainly debatable. In such circumstances penalty cannot be levied under section 271 (1) (c) of the Act.
Addition on account of cash deposits can be made only if the source of the deposits remains unexplained. If, on the other hand, the cash deposits in the bank are from the regular books of account maintained by the assessee, then such transactions cannot be said to be unexplained.
Permanent Magnets Ltd. Vs DCIT (ITAT Mumbai) It has been held that the TDS statements which have been filed earlier to 01.06.2015 then no fee is leviable u/s 234E of Income Tax Act, 1961. FULL TEXT OF THE ITAT JUDGEMENT The above mentioned appeals have been filed by the assessee against the order dated 06.08.2018 […]
ACIT Vs M/s. E-city Projects Construction Pvt. Ltd. (ITAT Mumbai) The Tribunal in its Judgment, while appreciating the facts, has observed that the various malls are built by Assessee and are operated from the year 2001. The operational income received from the said activity, in the form of rent, and other service charges was consistently […]
DCIT Vs District Cooperative Bank Ltd. (ITAT Delhi) The assessee has claimed before us that the amount of closing allowance has been paid to the employees from year to year in percentage terms of salary and therefore duly quantifiable provision. The Ld. DR also could not controvert this fact that the amount of closing allowance […]
The issue under consideration is whether the land purchased by the assessee as agricultural land & whether the income from such sale is business income or capital gains?
AO of the searched person had not rebutted the presumption that the seized documents belonged to M/s. C Ltd but belonged to other person, i.e, assessee, therefore, issue of notice under section 153C on assessee was illegal.
