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 Delhi quashed the assessment after holding that the Section 143(2) notice was issued by an Assessing Officer lacking jurisdic...
Income Tax : ITAT Delhi quashed Section 148 reassessment as separate transactions could not be aggregated to meet the ₹50 lakh threshold unde...
Income Tax : ITAT Pune deleted capital gains holding no transfer occurred under Sections 2(47)(v) or 2(47)(vi) as no possession or consideratio...
Income Tax : ITAT Bangalore deleted estimated gross profit addition, holding that accepted books of account could not justify estimation withou...
Income Tax : ITAT Hyderabad quashed reassessment as Section 148 notice lacked approval from the specified authority under Section 151(ii) for A...
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 held that Section 69A covers unexplained money, not loans recorded in books. As all 14 lenders confirmed transactions with evidence, ₹1.86 crore addition was deleted.
The ITAT Bangalore confirmed that an initial order’s failure to consider a binding High Court ruling on bad debt deductibility constitutes a mistake apparent from record. This allowed the bank to claim a deduction under Section 36(1)(vii) for non-rural bad debts via rectification, dismissing the Revenue’s appeal. The key takeaway is that disregarding settled jurisdictional law is a rectifiable error, not a debatable issue.
The ITAT Ahmedabad deleted the Section 36(1)(iii) disallowance of interest expense after the real estate firm successfully proved that the mutual fund investment in question was made using interest-free own funds, not borrowed capital. The ruling emphasizes that disallowance requires evidence of borrowed funds being diverted for non-business purposes.
The Tribunal held that income declared under Sections 44AE and 44AD by a transport HUF owning 10 trucks was valid. Additions for alleged profit diversion were deleted as the AO’s suspicion of tax evasion lacked evidence.
The ITAT deleted the entire addition made under Section 69A concerning demonetisation cash deposits, ruling in favor of a retired government employee. The Tribunal held that deposits from verifiable sources like gratuity, leave encashment, salary arrears, and loan repayment were genuinely explained and not unexplained income.
ITAT Ahmedabad confirmed the disallowance of Rs.1.21 crore in subcontract expenses because the taxpayer failed to provide sufficient corroborative evidence to substantiate the payments, especially those linked to a director’s relative. The Tribunal upheld the AO’s finding that the genuineness of the expenditure was not satisfactorily proved.
The ITAT Ahmedabad deleted a Rs.1.02 crore addition made under Section 68, rejecting the AO’s claim that a loan was an accommodation entry. The Tribunal ruled the loan was a genuine business transaction, used specifically for repaying an existing business loan, establishing the required nexus and purpose.
The CIT(A) deleted a ₹ 75.5 lakh addition under Section 68 after finding the AO violated natural justice by denying cross-examination of the third-party who provided the statement. The ITAT accepted the reassessment was correctly initiated under Section 147, but the final ruling on the Revenue’s appeal is incomplete.
The Tribunal dismissed the assessee’s appeal, confirming that opting for Section 115BAA overrides the 20% LTCG rate under Section 112.
ITAT Chennai granted relief, holding that reversal of a provision for liquidated damages, which was disallowed and subsequently taxed under VSV Scheme in earlier years, cannot be taxed again under Section 41(1). This prevents double taxation.
