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...
The ITAT held that Section 263 cannot be invoked where the Assessing Officer has made necessary inquiries and adopted a plausible view. It quashed the revision order after finding no lack of investigation into the related-party transaction.
The ITAT held that BSNL employees are entitled to full exemption under Section 10(10B) for compensation received under the 2019 VRS scheme. The Tribunal rejected the view that exemption should be restricted to ₹5 lakh under Section 10(10C).
The ITAT Mumbai held that revision under Section 263 was not justified where the Assessing Officer had examined and consciously allowed deduction under Section 80G for eligible CSR expenditure.
The ITAT Mumbai held that ESOP discount is an allowable deduction under Section 37(1), observing that the pendency of an SLP against a High Court judgment does not justify disallowance.
The ITAT Delhi held that foreign exchange fluctuation gains arising from export of services must be treated as operating income for transfer pricing purposes. It also ruled that the Safe Harbour Rules were not applicable to the relevant assessment year.
The ITAT held that no addition under Section 56(2)(viib) was warranted where shares were allotted to existing shareholders and no fresh funds were received during the relevant year. The Tribunal deleted the addition after finding the assessee’s valuation supported by registered valuers.
The ITAT ruled that approval from the Principal Chief Commissioner/Chief Commissioner is mandatory for reopening assessments beyond three years. Since approval was obtained from an incorrect authority, the reassessment was declared void and the addition was deleted.
A belated filing of Form 3CLA was a curable procedural defect and could not deprive an assessee of weighted deduction under section 35(2AB) where the substantive conditions for allowance of the deduction stand fulfilled.
The Mumbai ITAT held that ownership premises received under a redevelopment scheme are acquired in exchange for valuable tenancy rights and cannot be treated as having a nil cost. It directed the Assessing Officer to adopt the fair market value of the surrendered tenancy rights for recomputing capital gains.
The Cochin Bench held that the minimum one-acre condition must be satisfied by the land comprising the approved housing project itself. It ruled that unrelated land or structures cannot be included to claim deduction under Section 80-IB(10).
