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 : 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 held that delayed filing of Form 10B cannot defeat Section 11 exemption if the audit report is available before processing un...
Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
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 : Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(...
Income Tax : ITAT Hyderabad upheld the excess cash addition and Section 153D approval, while remanding the stock shortage addition for fresh ex...
Income Tax : ITAT Hyderabad deleted a Section 69 addition after finding the mother's identity, funds and gift confirmation established the sour...
Income Tax : Chennai ITAT deleted the Section 271D penalty, holding temporary cash received to demonstrate visa funds was not a loan attracting...
Income Tax : Chennai ITAT upheld deletion of a Section 69A addition, holding that cash withdrawals from the assessee's own bank account could n...
Income Tax : ITAT Pune upheld deletion of ₹1.14 crore Section 69C addition as it was based only on third-party statements without corroborati...
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...
The Tribunal emphasized that substantive justice prevails over technical PAN mismatch. Since income of the deceased was offered and accepted, TDS credit had to be allowed to the legal heir.
ITAT deleted the addition made under Section 153C as no incriminating material directly linked the buyer to alleged cash payments. Reliance solely on third-party pen drive data and statements was held insufficient.
The decision clarifies that the monetary threshold under Section 149 applies to actual taxable income, not purchase turnover. As the addition fell below ₹50 lakh, reassessment proceedings were invalid.
The Tribunal ruled that once the Assessing Officer scrutinized the Section 10AA claim and R&D allocation, revision cannot be invoked. Section 263 cannot be used to re-examine issues already verified during assessment.
The ruling explains that DVO reference is a procedural safeguard, while the safe harbour proviso grants substantive relief. Both provisions can be applied simultaneously where conditions are satisfied.
The Tribunal ruled that actual use of the property during the year is not a pre-condition for including it in the block of assets. Depreciation eligibility differs from eligibility for block inclusion under Section 50.
The Tribunal emphasized that without physical goods, exports and stock reconciliation would not be possible. Since quantitative records and gross profit remained consistent, the addition under Section 69C was deleted.
The Tribunal emphasized that the statutory option under Rule 11UA(2) lies exclusively with the assessee. Replacing DCF with NAV without demonstrating fatal flaws in valuation violates the legal framework.
The Tribunal ruled that adopting stamp duty value without obtaining a DVO report violates Section 50C when the assessee disputes fair market value. The matter was restored for fresh adjudication after obtaining proper valuation.
Penalty imposed under Section 271AAA was set aside, holding that only the Assessing Officer is empowered to levy such penalty. The Tribunal further ruled that once quantum addition is deleted, penalty cannot survive.
