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 Tribunal ruled that tax demand cannot be raised against an employee where TDS was deducted from salary but not deposited by the employer. The decision reiterates the protection available under Section 205 of the Income-tax Act.
The Mumbai ITAT deleted the addition alleging bogus long-term capital gains from penny stock transactions after finding no evidence linking the assessee to any accommodation entry.
ITAT Cochin ruled that faculty engaged by a coaching institute were independent professionals and not employees. It held that TDS was correctly deducted under Section 194J, deleting the demand raised under Sections 201(1) and 201(1A).
The ITAT held that the Assessing Officer must clearly indicate whether the alleged default is under-reporting or misreporting, as both attract different consequences under Section 270A. Failure to do so rendered the penalty order invalid.
ITAT Ahmedabad held that the tax authorities failed to consider evidence of an earlier agreement and prior payments before invoking Section 56(2)(x). The addition based on the stamp duty value was deleted.
The ITAT Hyderabad held that an uncorroborated loose sheet could not justify an addition under Section 69 for alleged on-money payment. The Tribunal upheld deletion of the addition as no independent evidence supported the Revenue’s case.
ITAT Hyderabad held that the assessee was denied a fair hearing because appellate notices were not served in the mode opted in Form 35. The case was remanded to the CIT(A) for fresh adjudication after providing a proper opportunity.
The Mumbai ITAT held that penalty under Section 270A cannot be sustained where income is determined purely on estimation after rejection of books. It also ruled that a show-cause notice failing to specify whether the penalty is for under-reporting or misreporting of income is legally defective and invalid.
ITAT Delhi held that cash deposits arising from recorded and accepted cash sales cannot be added as unexplained cash credits under Section 68. The Tribunal found no evidence contradicting the books of account or stock records.
ITAT Mumbai held that Compulsorily Convertible Debentures cannot be equated with call options and that no option premium arose from their issuance. The transfer pricing adjustment was deleted as no taxable income was generated.
