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 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 Delhi ITAT held that institutions engaged in preservation of environment fall under a specific charitable limb under Section 2...
Income Tax : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
Income Tax : ITAT Bangalore restored the Section 54F claim after noting that medical issues and portal difficulties prevented timely filing of ...
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 ITAT Ahmedabad held that reassessment under Section 147 was invalid because the Assessing Officer reopened the case for fictit...
Income Tax : The Tribunal held that tax authorities cannot reject documentary evidence solely by labeling the explanation as an afterthought. P...
Income Tax : ITAT Bangalore dismissed the Revenue’s appeal after holding that the Assessing Officer failed to provide adequate reasons for de...
Income Tax : ITAT Delhi held that penalty proceedings under Section 271(1)(c) should not be decided before disposal of the related quantum appe...
Income Tax : The Tribunal held that two sale deeds represented the same transaction because one was merely an amendment correcting a survey num...
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...
Shri K. Balasubramanian, the learned representative for the assessee submitted that the assessee HUF, sold 122.840 carat of diamonds on 2-1-2012 for a total consideration of Rs. 57,12,060. The long-term capital gain computed at Rs. 42,65,619. According to the learned representative, there was no dispute about sale of diamonds and the computation of long-term capital gain at Rs. 42,65,619.
Assessing Officer nor the CIT(A) has sought to establish a direct nexus between assessees professional income from playing cricket along with his expenditure in question claimed u/s.37 of the Act.
This appeal of the assessee is directed against the order of the Commissioner of Income Tax (Appeals) – 13, Chennai dated 15.09.2016 and pertains to the assessment year 2012-13.
Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently held that interest expenses can’t be disallowed when assessee had own funds which was more than the investments yielded tax free income.
In this ground, the Revenue is aggrieved with the action of Ld. CIT(A) in reversing the action of AO in treating the gain arising on sale of shares as ‘business income’ which was shown by the assessee as assessable under the head income from ‘capital gains
Unsigned And Undated Paper Found During The Search With No Corroborative Evidence. Not Recording Of The Satisfaction By AO: Whether Additions To The Income Can Be Made?
In Hitachi Home & Life Solutions (I) Ltd. vs. ACIT [ITA Nos. 3045/Ahd/2013 & 104/Ahd/2014, decided on 17.01.2017], briefly, the assessee being a company manufacturing/trading in air conditioners filed return of income on 20.12.2006 stating total income of Rs.15,62,01,340/-. It however returned nil income after adjusting carry forward losses.
This article deal with the issue of Long Term Capital Gain on Sale of Small Company Shares or on Penny Stocks. Article is based on ITAT Kolkata order in the case of Surya Prakash Toshniwal VS. ITO in which it held that Long-term capital gains claimed exempt u/s 10(38) cannot be treated as bogus unexplained […]
Article is case study on allowability of expenses by Pharma Companies related to Doctors on on Customer Relationship Management expenses, Key Account Management expenses, Gift Articles, Free medicine Sample, Advertisement and Sales Promotion based on ITAT Mumbai Judgment in the case of The Dy. CIT Vs. PHL Pharma P Ltd.
ITAT Mumbai held that Where assessee is involved in arbitrage activities, the transactions of shares in cash segment and future segment cannot be segregated to calculate profit and loss from each segment separately.
