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...
The assessee showed that the ₹1.11 crore payment was an advance toward a bank-auctioned property, fully supported by bank transfers and later formalised via a registered deed. The Tribunal held that such documented transactions cannot attract section 69. The addition was therefore deleted.
The Tribunal ruled that the Assessing Officer cannot refer property valuation to the DVO if the registered valuer’s estimate is correct or higher than fair market value, overturning an inflated capital gains addition.
The Tribunal held that penalty cannot be levied without specifying whether the case involved under-reporting or misreporting of income. The AO issued a 200% penalty without identifying the statutory limb or giving reasons. Since the order lacked satisfaction and reasoning, the penalty was quashed.
ITAT held that section 263 cannot be invoked unless the PCIT pinpoints an actual error in the AO’s order; since no specific mistake was shown, the revision was invalid.
The Tribunal held that section 69A requires unexplained money or valuables to be found; since only documents showing commission were seized, invoking section 69A was invalid. Only 20% of gross commission was allowed as taxable income.
The Tribunal upheld that the assessee could adopt NAV for one sale and DCF for another, as both are recognized under Rule 11UA. Since the AO failed to show any defect in the valuation reports, the substituted FMV was held invalid. The deletion of the section 50CA addition was confirmed.
The Tribunal held that reassessment was invalid since the original scrutiny had already examined the issue and no fresh information indicating suppression or omission was found. Reopening based solely on a change of opinion was rejected. The ruling reinforces that section 147 requires tangible new material.
The Tribunal held that the AO’s omission to verify whether the land sold fell within municipal limits made the assessment erroneous and prejudicial to the revenue, justifying Section 263 revision.
The Tribunal held that cash deposits could not be treated as unexplained when the AO had already accepted the related cash sales as part of audited turnover. Since stocks, sales, VAT records, and cash books were undisputed, the addition amounted to double taxation. The entire addition was deleted.
The Tribunal held that capital introduced by a partner could not be taxed as unexplained when authorities failed to verify the assessee’s evidence. Both the AO and CIT(A) ignored cash flow records and bank statements without conducting inquiry. The addition was deleted for violating principles of natural justice.
