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 ITAT Mumbai affirmed that when a taxpayer’s sales and stock levels are accepted, the entire value of alleged bogus purchases cannot be disallowed. Following judicial consistency in cases involving the Bhanwarlal Jain Group, the Tribunal restricted the addition to only 3% of the disputed purchase value, representing the estimated profit element.
The ITAT Bangalore clarified that the presence of nominal and associate members does not automatically disqualify a cooperative society registered under the KCS Act from claiming Section 80P deduction. The case was remanded for the AO to verify if associate members complied with the 15% statutory ceiling under the KCS Act, upholding the principle that the AO cannot question the validity of the society’s registration itself.
The issue was whether a large cash holding was unexplained money under Section 69A post-demonetization. The ITAT ruled in favor of the assessee, accepting that the cash originated from earlier, disclosed bank withdrawals. Key Takeaway: The burden of proof to disprove the source from prior withdrawals rests with the Department; mere suspicion isn’t enough for an addition.
ITAT Mumbai allowed deduction of interest expenditure, emphasizing that as long as there is a nexus between the borrowing and the income earned, deduction cannot be denied. Disallowance based on investment in shares was found unjustified.
ITAT Bangalore ruled that first proviso to Section 50C(1) is curative and retrospective, applying from A.Y. 2003-04. This allows taxpayer to compute capital gains based on stamp duty value prevailing on earlier MOU date (agreement date) instead of later, higher registration value, since part consideration was paid before registration.
ITAT Chennai upheld that immovable property transfers within family through registered settlement deeds are exempt under Section 56(2)(x). The AO’s view that such transfers were non-bona-fide was rejected.
Additions of unsecured loans were sustained where creditworthiness was not proved, and relief upheld only for creditors who responded to notices under section 133(6) or furnished adequate documentation. Assessee’s case was reopened under section 148, where AO noticed unsecured loans aggregating to ₹14.94 crore from 164 creditors. On verification.
The ITAT Chennai allowed a charitable trust to rectify its mistake of applying for provisional 80G registration, remanding the case for reconsideration under the correct clause for a five-year registration.
The ITAT Mumbai deleted the penalty imposed on Bharatkumar Jaishinh Soni, ruling that his claim for full leave encashment exemption was a bona fide legal interpretation, not a deliberate misreporting of income. The Tribunal held that an arguable claim, where all facts are disclosed, does not warrant the severe 200% penalty under Section 270A(9).
The ITAT Ahmedabad remanded the addition of ₹1.77 Cr as unexplained cash credit, directing the Assessing Officer to verify evidence, including the assessee’s claim of exempt agricultural income.
