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...
We find that the provisions of section 56(2)(viib) of the Act are applicable only for consideration for issue of shares received by a company from any person who is a resident. Admittedly, the monies have been received in the instant case by the assessee company from a non-resident. Hence the provisions of section 56(2)(viib) of the Act are also not applicable in the instant case.
Neogenetics Foods Private Limited Vs DCIT (ITAT Bangalore) From the perusal of the final Assessment Order (paragraph 4.5) it is clear that the only reason given by the AO for not accepting the genuineness of the transaction with M/s. Manoj Traders and M/s. K. S. Enterprises is failure of the assessee to furnish copy of […]
Eastern Coalfields Ltd. Vs DCIT (ITAT Kolkata) We note that the assessee has made a claim of deduction regarding donation made to the tune of Rs. 27,27,000/- but the AO disallowed the claim. On appeal, the Ld. CIT(A) has given partial relief by allowing 50% of expenditure claimed as donation. We note that on similar […]
Ganesh Balkrishna Bende Vs ITO (ITAT Pune) Here is a case in which a salaried person pooled his lifelong endeavour for the further studies of his daughter. In such a panorama, a holistic approach needs to be adopted. When I consider the facts of the instant case as a whole, there remains no doubt whatsoever […]
ITO Vs Shree Deepak Banwarilal Agarwal (ITAT Surat) We find that during the assessment the AO made addition of 100% of purchases shown by the assessee from four parties which were managed by “PK Jain” and his group. The AO made addition on the basis of report of Investigation Wing about the search & seizure […]
DCIT Vs Omni Active Health Technologies Ltd. (ITAT Mumbai) Briefly, the assessee is in the business of trading of healthcare and Nutraceuticals Products. The assessee is being granted patents for the one of its process in United States. A US based company filed suit against the appellant in July, 2008 for infringement of the patents […]
ITO Vs Terapanth Foods Limited (ITAT Rajkot) It is pertinent to note that the CIT(A) has categorically mentioned that Section 195 of the Act would apply only if payment is made which is chargeable under Income Tax Act 1961. The Assessing Officer has not given any reason as to why the chargeability of tax under […]
Appeal by Anita Oberai against CIT(A) denial of exemption u/s.54F for two adjacent flats purchased. ITAT Pune sets aside the order in favor of the assessee.
BMC Software Asia Pacific Pte Ltd. Vs ACIT (ITAT Pune) The brief facts relating to the issue are that the assessee is a company incorporated under the laws of Singapore and is a tax resident of Singapore, therefore, the assessee is a non-resident from an Indian Income-tax perspective. We note that the assessee declared an […]
Lahari Laminates Pvt. Ltd. Vs DCIT (ITAT Raipur) With reference to the first issue i.e. incorrect allowance of depreciation of Rs.59,45,940/- on bogus purchase of Plant & Machinery, the learned counsel for the assessee fairy submitted that where the A.O. has made disallowance on Plant & Machinery, it was permissible for the A.O. to disallow […]
