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 Kolkata deleted ₹3.32 crore addition under Section 68, holding that complete documentary evidence proved the genuineness and identity of investors. Low income or meagre business activity of subscriber companies cannot justify treating share capital as unexplained.
Lease rentals of ₹2.88 crore from the company’s warehousing complex were rightly classified as income from house property, reversing the AO’s business income classification. This restored the standard deduction of ₹83.38 lakh under Section 24(1).
The Tribunal held that unsecured loans cannot be treated as unexplained when identity, creditworthiness, and genuineness are fully documented. Since the AO ignored evidence and relied only on non-appearance, the addition was deleted.
Since the assessee did not receive notices sent to a wrong email, non-compliance findings were unsustainable. The ITAT directed the Assessing Officer to examine evidence and pass a speaking order after granting a proper hearing
The Tribunal held that Section 87A contains no exclusion for long-term capital gains and allowed the rebate since total income remained below Rs.5 lakhs. The order of the lower authorities was set aside.
The ITAT Jaipur ruled that penalty under Section 271AAB cannot be imposed when no undisclosed income is found during search operations. Loose documents alone do not justify penalty.
The ITAT found the assessee was not required to maintain books under Section 44AA. The recall led to cancellation of the Section 271AAB penalty for commodities trading income.
The Tribunal held that the penalty notice failed to specify the applicable clause under Section 271AAB. It ruled that the omission invalidated the penalty, as the assessee was not informed of the precise charge.
ITAT Jaipur clarified that penalty under section 271AAB is not mandatory and requires proper examination of evidence and explanation by the assessee before imposition. Mere surrender of income does not constitute undisclosed income.
The Tribunal held that projected profitability notes could not be treated as incriminating material and did not establish undisclosed income. Penalty under section 271AAB was therefore cancelled.
