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 : n Legal Initiative For Forest And Environment (LIFE Trust) Vs PCIT (ITAT Delhi), the stay application was denied as the test for i...
Income Tax : ITAT Ahmedabad held that merely making a claim that is not sustainable does not amount to furnishing inaccurate particulars of inc...
Income Tax : ITAT Chennai held that construction of new dwelling unit on first floor is eligible for deduction under section 54F of the Income ...
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 : 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...
Smt. Lata Garg Vs DCIT (ITAT Delhi) Facts- The assessee is an individual and derived income from salary, income from house property, income from business or profession and income from other sources. It was alleged that there were certain bogus purchases. Accordingly, AO alleged adding the same to the total income of the assessee. Conclusion- […]
Gangagen Biotechnologies Pvt. Ltd. Vs PCIT (ITAT Bangalore) Bombay High Court in the case of CIT vs. Western Outdoor Interactive Pvt. Ltd. (349 ITR 309) has held that whether a benefit of deduction is available for a particular number of years on satisfaction of certain conditions and under the provision of Act, then without withdrawing […]
Wipro GE Healthcare Pvt. Ltd. Vs DCIT (ITAT Bangalore) We notice that there was difference of opinion between the assessee and the AO in respect of extent of land that is assessable to wealth tax. While the case of revenue is that entire vacant land admeasuring 2,54,020.58 sq.ft is assessable to wealth tax, the case […]
Where main object or purpose of assessee s charitable trust was promotion of sports and swimming, merely because trust collected certain charges from coaching campus, same could not alter its character of being charitable.
Biocon Ltd. Vs ITO (ITAT Bangalore) Present Miscellaneous Petitions are filed by assessee seeking rectification of typographic mistakes in order dated 14.06.2021 passed by this Tribunal in the above referred appeals. We have perused the order passed by this Tribunal viz-a-viz the submissions advanced by both sides and the records placed before us. We note […]
Ashok Kumar Yadav Vs ITO (ITAT Delhi) Ld. Counsel for assessee contended that AO has wrongly made addition of the cash deposit in the bank account u/s 69 of the Act. We do not agree with the contention of the Ld. Counsel for the assessee because assessee made a cash deposit of the impugned amount […]
Delhi High Court in case of Coforge Limited (formerly known as NIIT Technologies Ltd) vs. ACIT: ITA Nos.213- 214/2020 decided on 05.07.2021, while reversing the decision of the Tribunal, held that demerger expenses under section 35DD of the Income Tax Act, 1961 (Ac”) are also allowable to the ‘resulting company’.
DCIT Vs Aarti Catalyst Solutions P. Ltd. (ITAT Ahmedabad) In the present case on hand, the assessee has discharged his onus by providing details relating to the loan amount availed from the three creditors by producing their bank accounts, Income-Tax Returns, confirmation letters, etc. The AO has doubted source of the creditors thereby the AO […]
It is amply clear that the additions under sections 68 and 69C of the Act can be made provided the transaction takes place during the previous year / financial year. Further, for making addition under section 68 of the Act, the assessee must fail to offer explanation and for making addition under section 69C of the Act, the source of the expenditure must remain unproved. In the present case, the assessee had duly explained the sources of the credit and the expenditure, respectively.
We have carefully perused the orders of the authorities below. We find that the interest levied u/s 234B of the Act was deleted by the DRP relying upon the decision of the Hon’ble Jurisdictional High Court of Delhi in the case of GE Packaged Power 373 ITR 65 in which the Hon’ble High Court followed the decision in the case of Agence France Press 2015-TII-14-HC-DEL-Intl. From the scrutiny report, on DRP’s directions, the AO has accepted the deletion. But since the matter is subjudice before the Hon’ble Supreme Court, these appeals have been preferred.
