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 : ITAT Bangalore held that disallowance of agricultural expenses based on estimation is unsustainable without concrete evidence, rul...
Income Tax : ITAT ruled that exemption under Section 54F cannot be denied solely due to missing bills or vouchers, emphasizing the principle of...
Income Tax : Learn about how the holding period of property impacts Capital Gain tax, including ITAT's recent decision clarifying calculations ...
Income Tax : Explore key updates on recent income tax case laws, covering international taxation, business income, and capital gains. Essential...
Income Tax : Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and f...
Income Tax : Learn about hybrid hearing guidelines of Income Tax Appellate Tribunal (ITAT) Indore Bench, effective from October 9, 2023, offeri...
Income Tax : Supreme Court of India has recently issued an order requiring all revenue appeals before the Income Tax Appellate Tribunal (ITAT) ...
Income Tax : At present appeals are fixed in routine and may take one to two years period even for first hearing. it is humbly submitted that t...
Income Tax : CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal (ITAT) on the Allegations of Possessing Disproportio...
Income Tax : Law Minister Shri Ravi Shankar Prasad launches 'itat e-dwar', an e-filing portal of Income Tax Appellate Tribunal. Portal will ena...
Income Tax : ITAT Mumbai grants relief to Tarun Mohan Jani, ruling that property valuation difference within 10% tolerance limit doesn't warran...
Income Tax : ITAT Ahmedabad held that the AO must record a proper satisfaction regarding the incorrectness of the assessee’s claim before inv...
Income Tax : ITAT Ahmedabad held that passing of ex-parte order by CIT(A) without adjudicating issues on merits, such order is not sustainable ...
Income Tax : ITAT Kolkata held that additions u/s. 153A of the Income Tax Act could only be made on the basis of seized material found during t...
Income Tax : ITAT Ahmedabad held that genuineness of transaction, creditworthiness and identity of creditors not proved, hence addition u/s. 68...
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...
Income Tax : Office Order No. 08 of 2021 Post facto approval of the Competent Authority is hereby conveyed for extension of term of ad-hoc appo...
Income Tax : In continuation of the SOP (Standard Operating Procedure) dated 01.06.2020 the hearing of cases at 'ITAT Chandigarh Benches from 0...
Bhalchandra Educational Trust Vs CIT (Exemptions) (ITAT Lucknow) CBDT vide Circular No. 7/2018 dated 20/12/2018 has issued directions for condonation of delay u/s 119(2)(b) of the Act in filing of Form 10 and Form 9A for assessment year 2016-17. The analysis of directions of CBDT vide this circular reveals that since assessment year 2016-17 was the […]
Hiralaxmi Ishwarlal Mehta Vs ITO (ITAT Mumbai) ITAT noted that the assessee already disclosed the bogus long term capital gain claim on sale of penny stock shares under income disclosure scheme. The sum so disclosed was Rs. 16,20,156/-. The cost of these shares was Rs. 30,673/- which was a component of the total sale proceeds […]
Rajesh Vitthal Badade Vs JCIT (ITAT Pune) It is found as an admitted position that the AO recorded statement of Mr. Sampat G. Mandhare and Mrs. Dropadabai Fakirrao Harpale, who had given sum of Rs. 5.00 lakh and Rs.7.00 lakh respectively to the assessee as advance for purchase of the land. Here it is relevant […]
ITAT held that where loans and advances are given in normal course of business and transaction in question benefits both payer and payee companies, provisions of section 2(22)(e) cannot be invoked.
.In the reason for delay in filing the appeal the appellant has stated that Advocate was busy in filing the GST returns and forgot to file the said appeal.
ITAT held that loss from trading in commodity derivatives is not a speculative loss and rightly been set off by the assessee against regular business profits from medical derivatives business.
ITAT imposes cost of Rs.25,000 for lackadaisical and non co-operative attitude of the assessee towards the quantum proceedings
Assessee did not appear on the date of hearing and did not furnish any application stating any reasonable cause for not appearing on the given date nor requested any adjournment. Thus, there is a clear violation of provision of Section 131 of the Act and penalty u/s 272A(1)(C) of the Act is attracted.
Assessing Officer has given a finding that the assessee had used a pre arranged device in form of booking of bogus purchases of shares. This finding of the Assessing Officer is not rebutted by the assessee by placing any material on record. Therefore, the addition of Rs. 3,32,850/- made u/s 69C is hereby sustained.
We note that the assessee did not suppress the fact that no income incurred as such, but however it is reflected in Form 26AS data which is otherwise a salary data and TDS deductions are available for examination to the AO.
