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...
Amount paid to a partner upon retirement after taking accounts and upon deduction of liabilities did not involve an element of transfer within meaning of section 2(47) and not chargeable to income tax.
High Court faulted the Tribunal’s decision of reducing the penalty as a ‘way to bypass the minimum limit’ and the Tribunal was in error in granting the relief, the same does not constitute a mistake apparent from the record so as to enable the Tribunal to revisit its decision
DCIT Vs. M/s. Enam Securities Pvt. Ltd (ITAT Mumbai) it is duly noted that the assessee has submitted that the outstanding bonus was customary bonus and not filing u/s. 36(1)(ii) to come under the ambit of disallowance u/s. 43B(C). The assessee has quoted several case laws for the proposition that the customary bonus do not […]
Shilpa Shetty Kundra Vs DCIT (ITAT Mumbai) It is observed that the assessee has already offered suo-moto disallowance of Rs.2.34 Lacs u/s 14A in her computation of income, which has been overlooked by the lower authorities. Another undisputed fact that emerges is that disallowance against average investments which have actually yielded exempt income during the […]
ITO Vs M/s Yadu Steels & Power Pvt.Ltd. (ITAT Delhi) Under Section 68 onus is upon assessee to prove three ingredients, i.e., identity and creditworthiness of credit entries. As to how onus can be discharged would depend on facts and circumstances of each case. It is expected of both sides – assessee and Ld.AO, to […]
Where there was no dividend income earned during the relevant assessment year, there was no case for disallowing the expenditure relatable to dividend income.
E.I. DuPont India P. Ltd. Vs DCIT (ITAT Delhi) AO had taken the month to be the British calendar month as defined in Section 3(35) of the General Clauses Act and it is only on that premise, he calculated one day in March and two days in May as two full months and calculated interest […]
The Delhi High Court in case of Bharti Mishra held that section 54F prescribes appropriation of sale consideration within one year before the date of transfer of original asset, two years from the date of transfer or construction of new property within three years from the date of transfer. However, the Act does not prescribe any condition as to the date of commencement of construction of house property which may be commenced even before the date of transfer of original asset.
TDS u/s 194H was not applicable to bank guarantee commission as the same did not fall into clause (i) of Explanation to section 194H and exemption was provided under section 194A(2)(iiia) in respect of any payment made to any banking company to which any Banking Regulation applies.
Payments made to various artists participating in reality show would fall under section 194C and not under section 194J and there was no infirmity in the action of AO as assessee had rightly deducted TDS u/s 194C.
