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 Pune allowed deduction under Section 80P(2)(d) on dividend from co-operative banks, following coordinate bench decisions for ...
Income Tax : ITAT Pune remanded the Section 80P deduction issue for fresh assessment after noting relevant precedents and directing reconsidera...
Income Tax : ITAT Pune allowed deduction under Section 80P(2)(a)(i) on interest from co-operative bank deposits, following binding judicial pre...
Income Tax : Chennai ITAT held Section 50C provisos applicable to oral agreements backed by bank payments and deleted related additions, remand...
Income Tax : Chennai ITAT deleted the Section 271D penalty, holding temporary cash received to demonstrate visa funds was not a loan attracting...
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...
Tribunal observed that it is for the businessman to decide how to organise business finances unless there is evidence of tax evasion. It deleted the Section 68 addition after finding that the assessee had adequately explained the source of funds.
ITAT Delhi held that merely reflecting depreciation in an incorrect schedule of the income tax return could not justify an addition under Section 69. Following its earlier decision in the assessee’s own case, the Tribunal upheld deletion of the addition and dismissed the Revenue’s appeal.
Tribunal ruled that questions relating to loans and advances are matters for assessment proceedings and not sufficient grounds to reject renewal of registration. The CIT(E) was directed to reconsider the application.
The ITAT held that reassessment notices issued after the surviving limitation period prescribed by the Supreme Court were invalid. Consequently, the reassessment proceedings and assessment orders were quashed for lack of jurisdiction.
ITAT Chennai held that revision under Section 263 could not survive on the issue of prior period expenditure after the Assessing Officer verified and accepted the claim in the consequential assessment. The revision was sustained only on the remaining issues.
ITAT held that Accounting Standard-19 governs accounting treatment but does not determine tax treatment under the Income-tax Act. It ruled that depreciation belongs to the legal owner while lease rentals remain deductible for the lessee.
The ITAT Bangalore condoned a 252-day delay after finding that the assessees legal representatives had shown sufficient cause arising from illness, death and family disputes. It also held that the CIT(A) erred in dismissing the appeal without evaluating the delay condonation application and restored the matter for decision on merits.
The ITAT Delhi held that the Transfer Pricing Officer could not arbitrarily determine the arm’s length price of management services at nil despite evidence establishing receipt of services. The Tribunal restored the assessees TNMM-based benchmarking by following its earlier decision.
The ITAT held that the assessment was invalid because it was completed by an Income Tax Officer who lacked pecuniary jurisdiction under CBDT Instruction No. 1/2011. The assessment was quashed without examining the additions on merits.
The ITAT Surat held that cash deposited during demonetisation was sufficiently explained through opening cash-in-hand, prior bank withdrawals, and cash received from the deceased husband. It ruled that Section 69A addition could not be sustained merely on assumptions about human conduct.
