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 : Chennai ITAT deleted the Section 50C addition, holding an unregistered agreement to sell does not bar the proviso where considerat...
Income Tax : Chennai ITAT deleted the Section 69A addition on cash deposits, holding the assessee acted as a commission agent, while sustaining...
Income Tax : Chennai ITAT upheld deletion of a Section 69A addition, holding that cash withdrawals from the assessee's own bank account could n...
Income Tax : ITAT Chennai directed the AO to apply the peak credit theory and restrict the Section 69A addition instead of taxing the entire ca...
Income Tax : ITAT Chennai restored the Section 115BAA claim, directing verification and holding delayed or non-electronic Form 10-IC filing sho...
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...
ITAT Bangalore held that where the assessee disputed the stamp duty valuation and furnished a registered valuer’s report, the Assessing Officer ought to have referred the matter to the Departmental Valuation Officer (DVO).
ITAT Bangalore held that once a search under Section 132 was conducted, the assessment for the relevant year had to proceed under Section 147/148 in accordance with the post-2021 statutory scheme.
The ITAT Bangalore held that a mismatch between the income tax return and Form 3CD cannot by itself justify disallowance of a genuine bonus payment. It allowed the deduction after finding that the payment was supported by books of account and bank records.
ITAT Visakhapatnam remanded the assessment after holding that documentary evidence relating to cash deposits, members’ records and audit reports required proper verification. The Tribunal directed a fresh assessment without expressing any opinion on the merits.
ITAT Hyderabad held that an addition under Section 69 cannot be sustained solely on the basis of an uncorroborated loose sheet. The Tribunal ruled that independent evidence is necessary to establish alleged on-money payments.
The ITAT Visakhapatnam held that delayed filing of Form No. 67 does not justify denial of Foreign Tax Credit where taxes have been paid in the foreign jurisdiction. It ruled that the procedural delay cannot override the substantive benefit available under the DTAA.
ITAT Visakhapatnam held that filing a return of income before completion of assessment is mandatory for claiming deduction under Section 80P. The Tribunal upheld denial of the deduction where the return was filed only after the assessment.
The ITAT held that proceeds from the sale of ancestral immovable property are taxable under the head Capital Gains” and not Income from Other Sources. The matter was remanded to the Assessing Officer for fresh computation after considering the assessee’s documents.
The ITAT held that the Assessing Officer must comply with the mandatory provisions of Section 50C(2) before adopting the stamp duty value. The matter was remanded for obtaining the DVO’s valuation report and fresh adjudication.
The ITAT held that a public charitable trust could not be taxed at the Maximum Marginal Rate under Section 167B. It directed taxation at normal rates and held that no tax was payable as the income was below the basic exemption limit.
