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 : ITAT Delhi accepted the registered valuer's FMV and indexed cost after holding the AO could not reject the valuation without refer...
Income Tax : ITAT Kolkata allowed deduction under Section 80JJAA after holding that delayed Form 10DA filing did not defeat the claim when it w...
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 : 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...
DCIT Vs United Info Planet Pvt. Ltd. (ITAT Delhi) From the perusal of the Rent Agreement dated 30/08/2007, it can be seen that it is with the sole purpose for rent in respect of the entire building to the Multi National company IBM. The Fit Out Agreement dated 18/01/2008 was entered between the parties for […]
Luthra & Luthra Law Offices Vs ACIT (ITAT Delhi) Hon’ble Delhi High Court in the case of Vaish Associates held that the partners were entitled to annual salary equivalent with percentage of profit multiplied by the allocable profit calculated as per the provisions of section 40(b)(v) of the Act. In the instant case also remuneration […]
M/s. United Investments Vs ACIT (ITAT Kolkata) In this case the assessee had incurred loss on sale of shares after paying STT & these shares were held on investment a/c for period more than 12 months. The assessee claimed that the loss incurred was to be assessed under the head ‘capital gains’ and its set […]
Since no effort was made by AO to serve another notice u/s. 143(2) before the deadline after returning from postal authorities the original notice u/s 143(2) thus, the jurisdictional condition of `service’ of notice u/s. 143(2) and not its `issue’ was not satisfied and accordingly, assessment order passed in absence of a valid jurisdiction was quashed.
The estimate of warranty made by the assessee on the basis of past history cannot be treated as a provision for any ascertained liability and allowed the provision for warranty as deduction.
Pyaribai K Jain Vs Addl. CIT (ITAT Mumbai) Leasehold right allotted against right of agricultural land cannot be considered as agricultural land and, therefore, profit on transfer of such leasehold right was taxable under the head ‘capital gains’, however, Assessing Officer was not correct in not allowing cost of acquisition to assessee while computing long-term […]
ITO Vs M/s Ami Riddhi Chem Private Limited (ITAT Mumbai) The assessee claim to have made purchases of Rs.34,92,40,689/-, therefore, the assessee was asked to furnish the details of purchases made from these parties. The notices issued/served under section 133(6) of the Act, however, there was no reply from the concerned parties. The facts are […]
Surrender offered by assessee on account of undisclosed sundry debtors was purely related to business carried out by assessee, therefore, same had to be assessed as deemed income under sections 69, 69A/B/C and assessee was entitled to claim the benefit of set off of losses both current and brought forward in accordance with law against the income assessed.
The issue under consideration is whether the Lease payment in advance for the period varied from 15 to 99 years considered as Capital Expenditure or Revenue Expenditure?
V.R.Enterprises Vs ITO (ITAT Mumbai) We find that assessee was in possession of primary purchase documents and the payments to the suppliers was through banking channels. The assessee had established corresponding sales before Ld. AO. The books of accounts were audited wherein quantitative details of stock was provided. We are of the considered opinion that […]
