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 case examined rejection of books under Section 145(3) and estimation of profits in a cold storage business. While rejection was upheld, arbitrary enhancement of rates and quantities was struck down, resulting in partial relief.
The ITAT ruled that unexplained cash can only be assessed in the year in which it is seized. An addition made in an incorrect assessment year is legally unsustainable and must be deleted.
The dispute centered on a statutory obligation to maintain books of account. The tribunal confirmed that non-compliance attracts penalty under Section 271A, which cannot be deleted without substantive rebuttal.
The case addressed overlapping taxation of seized cash and disclosed unaccounted profits. The final ruling emphasized substance over form and deleted the addition by extending telescoping benefits to the partner.
The tribunal held that additions made solely on the basis of a statement recorded from an employee during survey proceedings are unsustainable in law. Statements by non-assessees cannot justify undisclosed income additions without independent corroboration.
ITAT Mumbai held that protective additions under Sections 68 and 69C cannot survive once substantive additions are confirmed in the hands of beneficiaries. The ruling prevents double taxation of the same income and limits misuse of protective assessments.
The Tribunal held that when no other income source exists, bank deposits linked to business cannot be taxed separately. Estimation must reflect commercial realities of the trade.
The case involved rejection of cash deposits due to alleged improbability of holding cash. The Tribunal ruled that presumptions cannot override a registered sale deed and disclosed capital gains.
The Tribunal emphasized that registration decisions must consider all relevant evidence. Mechanical rejection without full appraisal was held unsustainable.
Unexplained cash deposits and rent discrepancies led to rejection of books under section 145(3). However, the Tribunal held that estimating profits at 1% was excessive and moderated it to 0.50%.
