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 : Mumbai ITAT deleted section 40(a)(ia) disallowance on CSLA reimbursement and remanded section 37(1) year-end provisions for fresh ...
Income Tax : ITAT allowed BSNL employees full exemption under Sections 10(10B) and 10(10AA), holding delay and Goetze India cannot defeat lawfu...
Income Tax : ITAT deleted disallowance supported by debit notes despite ledger narration error and remanded the remaining claim for fresh verif...
Income Tax : ITAT restored a Section 12AB registration application, holding that mentioning the wrong code in Form 10AB was a rectifiable techn...
Income Tax : ITAT set aside rejection of fresh Sections 12AB and 80G applications and directed the CIT(E) to examine them independently on meri...
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...
Bhagwan Dass Bansal Vs ITO (ITAT Delhi)- In the case of Commissioner of Income-tax vs. Multiplan India (P) Ltd.; 38 ITD 320 (Del), the appeal filed by the revenue before the Tribunal, which was fixed for hearing. But on the date of hearing nobody represented the revenue/appellant nor any communication for adjournment was received. There was no communication or information as to why the revenue chose to remain absent on that date. The Tribunal on the basis of inherent powers, treated the appeal filed by the revenue as un-admitted in view of the provisions of Rule 19 of the Appellate Tribunal Rules, 1963.
Jalan Finvest Pvt. Ltd., Kolkata Vs. (ITO) (ITAT Kolkata)- In ground no. 3 raised by assessee it was mentioned that the revised computation at the time of assessment was not considered. However it is observed from the impugned order that the ld. CIT(A) has mentioned the grounds raised by assessee as well as written submissions filed by assessee. But he disposed of two grounds i.e. the first issue which relates to disallowance of service tax by allowing the ground of assessee and the second issue in respect of disallowance of office maintenance has been dismissed by observing that assessee has not pressed this ground and submitted a letter in this regard.
DCIT Vs. Elgie Engineering Works (ITAT Calcutta)- On perusal of the bills of parties, it is seen that the payments are for manufacture and supply of items such as Buckstay Slings, Economiser coils, Lifting beams etc. The bills show that the price is inclusive of the material which indicates that the transactions were in the nature of sales contracts.
Income-tax Officer Vs. North East Enterprises (P) Ltd. (ITAT Kolkata)- As observed by the ld. A.O., the receipts of Rs. 50 lakhs and Rs.41,50,000/- ICD for the assessment years 2001-02 and 2002-03 respectively were not satisfactorily explained before him, which led him to make addition of the said amounts as assessee’s undisclosed investment. In our considered opinion, while deciding the issue the ld. C.I.T.(A) ought to have called for the remand report as the receipts of ICD amounts were not satisfactorily explained before the ld. A.O., which were shown as payments.
Smart Projects (P) Ltd. v. ITO (ITAT Delhi) – Assessee company has duly submitted all requisite documentary evidences before the Authorities below so as to discharge its onus of establishing the identity and credit worthiness of the shareholders and the genuineness of the transactions. That being so, looked at from any angle, the addition has wrongly been made in the hands of the assessee company, though the same ought to have been made, if at all, in the hands of the shareholders, as held in ‘Lovely Exports’.
Since the assessment year involved in this appeal is 2005-06 Rule 8D of the IT Rules is not applicable in the present case keeping in view of the decision of the Hon’ble Bombay High Court in the case of Godrej and Boyce Mfg. Pvt. Ltd. In this case the ld. CIT-Admn has issued jurisdiction u/s 263 of the IT Act based on the order of the ITAT, Special Bench, which has been subsequently over ruled by Hon’ble Bombay High Court (supra). Therefore we are of the view that invoking of provision of section 263 of the IT Act is not justifiable in the facts and circumstances of the case. Hence we squash the order of ld. CIT-Admn and allow the appeal of assessee.
M/s Diamond Tool Industries Vs. JCIT (ITAT Mumbai)- Gauhati High Court in the case of Meghalaya Steels Ltd. (supra) after considering the decision of Hon’ble Supreme Court in the case of Liberty India (supra) has held that Central Excise Duty has a direct nexus with the manufacturing activity and similarly the refund of the Central Excise duty also had a direct nexus with the manufacturing activity. The issue of payment of Central Excise Duty would not arise in the absence of any industrial activity.
Essar Investments Limited vs. DCIT (ITAT Mumbai) – On the identical facts the Tribunal in the assessee’s own case for the assessment years 1998-1999, 1999-2000 & 2000-2002 vide para 23 of the order dated 9.7.2008 has held that the assessee had advanced the loans to the group concerns for its business purpose, in such a case, interest on such advances cannot be disallowed. The similar view has been followed by the Tribunal in the assessee’s own case in ITA No. 5083 & 5642/M/2007 for AYs 2000-2001 & 2003-2004 dated 11.12.2009.
Bypass Properties Private Ltd., Kolkata Vs. ITO (ITAT kolkata)- As per the alteration of security deposit clause dated 10.11.2006 which was placed at page 67 of the paper book it is observed that the lessee shall keep in deposit and advance which is the lessors a sum of Rs. 21 crores by interest free deposit . Then it was further stated in the said alteration that the amount of security deposit shall not refundable during the continuance of the lease period. Subsequently the lease period has been extended from 21 years to 62 years on 26.03.2007 which was placed at page 66 of the paper book.
Sujata Rajendra Nikalje Vs ITO (ITAT Mumbai) – We find force in the alternate contention of the assesee. Admittedly, the assessee was in custody from 25th December, 2005 till 17th September, 2007 during which the assessment for A.Y. 2003-04 and 2004-05 were framed. Although the assessee was given opportunity during remand proceedings, we find merit in the submission of the ld. counsel for the assessee that due to her depressed mental state of affairs for being behind bars for above 2 years, the assessee was not in a position to substantiate her case and, therefore, one more opportunity may be given to the assessee. Considering the totality of the facts of the case and in the interests of justice, we deem it proper to restore the issues for both the assessment years to the file of the A.O. for denovo assessment. The A.O. shall give adequate opportunity of being heard to the assessee and decide the issue as per law. We hold and direct accordingly. The grounds raised by the assessee for both the assessment years are accordingly allowed for statistical purposes.
