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 upheld denial of Section 10(38) exemption and Section 68 addition on alleged sham share transactions while remanding computat...
Income Tax : ITAT upheld deletion of a Section 68 addition on demonetisation cash deposits after finding the deposits were supported by audited...
Income Tax : ITAT deleted the Section 69A addition on demonetisation cash deposits after finding the recorded cash sales, stock records and VAT...
Income Tax : ITAT deleted the Section 68 addition on ₹2.74 crore cash deposits, holding that recorded sales, audited books, VAT records and s...
Income Tax : ITAT deleted the Section 68 addition on ₹80 lakh cash deposits, holding that audited cash sales recorded in books could not be t...
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...
In view of the aforesaid fact and findings we hold that the write off of bad debt of Rs. 56,94,685/- would be squarely allowable as deduction u/s 36(1)(vii) read with Section 36(2) of the Act and the ld. AO is directed accordingly to grant the same.
It is settled law that the disallowance on account of ad hoc basis is not permissible under the provision of the Act. If the AO is not satisfied with the submission of assessee then he has to make the disallowance after making specific reference to such documents / vouchers. AO cannot just make the disallowance on ad hoc basis without pointing out any defect / error in the submission of assessee.
These four appeals are preferred by the revenue against the four separate orders passed by the Ld. CIT (Appeals) all dated 27th July, 2016 for A.Y. 2010-11, 2011-12, 2012-13 and 2013-14 and since a common issue involved therein, the same have been heard together and are being disposed of by a single consolidated order.
This is an appeal by the Assessee directed against the order dated 22.12.2016 of the ld. CIT, Exemptions (ld. CIT(E)), Kolkata relating to A.Y.2016-17, wherein the ld. CIT(E) has passed an order rejecting grant of the approval u/s 80G of the Income-tax Act, 1961 (here nafter referred to as the Act).
Minda SM Technocast Pvt. Ltd Vs ACIT (ITAT Delhi) 1. In the present case, the assessee has acquired shares of TEPL at Rs.5 per shares. The shares were acquired by the assessee from three companies as discussed in the preceding paragraphs. The assessee claimed to have valued the shares of TEPL as per the provisions […]
Addition u/s 40(a)(i) on account of non-deduction of tax on payments of commission to non-resident/foreign commission agents ignoring the facts that commission paid foreign commission agents is deemed to accrue or arise in India, which required deduction of tax as per section 195 of the I.T.Act..
Shri Ghanshyam Vs ITO (ITAT Agra) In present case, the ld. Additional CIT granted the approval by observing merely that he was satisfied. Sections 147 and 148 of the IT Act, it is trite, are charter to the Revenue to reopen completed assessments. Section 151 of the Act provides a safe-guard that the sword of […]
This is an appeal filed by the assessee directed against the order of the Commissioner of Income Tax (Appeals)-11, Kolkata, (hereinafter the Ld. CIT(A)), dt. 22/09/2017, passed u/s 250 of the Income Tax Act, 1961 (hereinafter the Act), relating to Assessment Year 2012-13
The learned CIT (Appeal) has erred in law and on the facts of the case in sustaining the order of the assessing officer holding that gift made by the assessee towards relinquishing 50% interest in the flat No. 52 at Ajanta Apartment, Colaba, Mumbai is a transfer within the meaning of section 2(47) of the Income Tax Act.
ITO Vs Upkar Retail (P.) Ltd. (ITAT Ahmedabad) We find guidance from the judgment of Hon’ble Supreme Court in the matter of CIT v. Vegetable Products Ltd. [1973] CTR (SC) 177 : [1972] 88 ITR 192 (SC) Hon’ble Supreme Court has laid down a principle that “if two reasonable constructions of a taxing provision are […]
