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 : ITAT Ahmedabad held that reassessment under Section 147 was invalid as the Assessing Officer failed to show independent applicatio...
Income Tax : ITAT Chandigarh held that cash deposits during demonetization could not be treated as unexplained income since the amounts were re...
Income Tax : ITAT Rajkot held that revision under section 263 was not sustainable where the Assessing Officer had already conducted extensive v...
Income Tax : ITAT Nagpur held that nominal donations received in small amounts could not be treated as non-voluntary contributions merely becau...
Income Tax : ITAT Mumbai deleted the addition under Section 56(2)(vii)(b) after holding that a 2.3% variation between agreement value and stamp...
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...
ITAT Rajkot held that cash reflected in 26AS represents pass-through freight receipts, not actual turnover. Commission income below the audit threshold, hence tax audit under section 44AB was not required and penalty u/s 271B deleted.
ITAT partly allowed appeal against additions under section 144, applying 6% net profit instead of AO’s 8% on total cash deposits. Returned income under section 44AD was deducted, and normal tax rates applied instead of section 115BBE.
The Tribunal condoned a 294-day delay and remanded the case to the Assessing Officer for AY 2017-18. Cash deposits of ₹49,80,700/- were initially treated as unexplained income under section 68. The ruling allows the assessee one more opportunity to present evidence, emphasizing procedural fairness.
Assessee proved long-term capital gains of ₹1 crore from Mishkafin Finance shares via broker notes, bank statements, and STT-paid transactions. Addition under section 69A was deleted due to lack of evidence.
ITAT Jabalpur held that CIT(A) cannot blindly follow PCIT directions under section 263. Appellate authorities must independently consider evidence and objections before confirming additions.
The ITAT held that specific-purpose government grants for institutional development are corpus by their inherent character. The AO’s addition of ₹1.7 crore to gross receipts was quashed, emphasizing that utilized grants for setting up assets cannot be treated as income.
ITAT Ahmedabad held that banks can claim deductions for provisions for bad debts on total income, including capital gains, rejecting the CIT’s restriction to business income.
ITAT held that cash deposits made by directors before investing in share capital cannot be treated as unexplained income of the company. The ruling emphasizes that proper identity, creditworthiness, and genuineness documentation must be evaluated before invoking Section 68.
ITAT held that late filing of Form 10B cannot automatically deny exemption when the delay is bona fide and curable. The matter was remanded for fresh examination after recognising that Form 10B is a procedural requirement.
ITAT held that a penalty under Section 271(1)(c) is invalid when concealment and inaccurate particulars are invoked together without specifying the exact charge. The ruling reinforces that penalty notices must be unambiguous and legally precise.
