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 held that merely treating a claimed business loss as a speculative loss amounts to a change in head of loss, not under-reporting of income. Penalty under Section 270A was deleted as there was no concealment or furnishing of inaccurate particulars.
The case addressed the legality of reopening an assessment when the notice was not issued through NFAC. Following jurisdictional High Court rulings, the Tribunal ruled that such deviation vitiates the entire reassessment process.
Cash deposits arising from routine business collections cannot be wholly treated as unexplained income. The ruling confirms that estimations must reflect the nature of the taxpayer’s business.
ITAT Pune held that non-examination of issue of depreciation claimed on goodwill justifies invocation of revisionary proceeding under section 263 of the Income Tax Act. Accordingly, order sustained and appeal of assessee dismissed.
The Tribunal held that penalty under section 271(1)(c) cannot survive when the underlying addition is purely estimated. The ruling reinforces that estimation alone does not amount to furnishing inaccurate particulars.
ITAT held that once tax is deducted from an employee’s income, credit cannot be denied merely because the employer failed to deposit it. Section 205 bars recovery of such tax from the employee.
The Tribunal upheld depreciation on goodwill arising from amalgamation, relying on Supreme Court precedent. The ruling confirms that excess consideration recognized as goodwill qualifies for depreciation under section 32.
ITAT held that a loan cannot be treated as unexplained merely on the basis of a third-party search statement. When confirmations, bank statements, and repayment evidence are on record, independent verification by the AO is mandatory.
Revenue’s claim that manufacturing activity was artificially shifted to extend tax benefits was rejected. The Tribunal held that factual expansion and eligible profits were duly established.
With the reassessment notice quashed, the consequential assessment order and demand were automatically annulled. The ruling highlights that taxpayers cannot be burdened where initiation itself is unlawful.
