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 Mumbai dismissed the Revenue's appeal, upholding deletion of TDS demands under Sections 194H and 194A by following earlier or...
Income Tax : ITAT Kolkata quashed reassessment and Section 68 addition after finding reopening based on unverified CCM information and procedur...
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 : 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...
Where assessee was having sufficient own funds at its disposal for the purpose of making investments, it could be held that no borrowed funds were utilized for making investments. Hence, there could not be any disallowance of interest under second limb of rule 8D(2) of the rules.
Shri Gurinder Singh Dhillon Vs ITO (ITAT Delhi) Assessee filed the appeal before the ld. CIT (A) manually within time as per the old provisions. Later on, the manner of furnishing the appeal in Form No.35 before the ld. CIT (A) was amended vide Notification No. 5/2016 dated 06.04.2016 and the procedure was laid down. […]
ITO Vs M/s. Lakshdweep Development Corporation Limited (ITAT Cochin) Interest on delayed payment of VAT and TDS is only compensatory and is not penal in nature. Therefore, the CIT(A) has correctly deleted the disallowance made for the interest expenditure claimed on delayed payment of VAT and TDS. FULL TEXT OF THE ITAT JUDGMENT These appeals […]
Aditya Birla Power Company Limited Vs ACIT (ITAT Mumbai) The undisputed position that emerges out of the above discussion is that the assessee undertook a project and incurred certain expenditure which was reimbursable to him along with development fees upon financial closure of the project. However, the project was ultimately aborted by the assessee and […]
Whether Additions u/s 68 merely on the ground that the assessee could not produce the directors of the share subscribing companies is sustainable.
Ramanand Industries Vs ITO (ITAT Jaipur) It is settled proposition of law that even if the books of account are rejected U/s 145(3) of the Act, it would not ipso facto result to an addition except the income estimated on same reasonable and proper basis lead to an addition. In the case in hand, neither […]
Vijay Mahipal v. ITO (ITAT Kolkata) If the assessee invests the entire consideration in construction of the residential house within three years from the date of transfer he cannot be denied deduction u/s 54F of the Act on the ground that he did not deposit the said amount in capital gain account scheme before the […]
Deepak B. Shah Vs ACIT Mumbai (ITAT Mumbai) In the present case the Income Tax Department sought to tax fund lying in a Swiss bank account as “Unaccounted Income” in the hands of two residents of Mumbai. The appellants maintained account in Swiss Bank stated that they had no contribution in the said account as […]
At the same time, we cannot also ignore the fact that it was for the Revenue to have allowed smooth switchover from manual to e-filing system of filing TDS returns. The onus and burden was on revenue to provide necessary infrastructure so that tax-payer did not face any inconvenience in filing e-TDS returns.
Sushmita Sen recent appeal: Where the assessee made certain claim which had not been accepted by the Revenue, penalty under section 271(1)(c) thereon deleted
