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 ITAT Delhi held that only 1% of the gross bank transactions could be assessed as income after finding that the assessee acted as a commission agent. It upheld the CIT(A)’s reliance on the consistent approach adopted in the preceding assessment year.
The ITAT held that sales tax subsidy granted under industrial incentive schemes constituted a capital receipt because its purpose was industrial development rather than business profits. The Revenue’s appeal was dismissed and the subsidy was excluded from taxable income and book profits.
The Tribunal relied on earlier findings that the lending entities were paper concerns engaged in providing accommodation entries. The unsecured loans were treated as unexplained cash credits.
The ITAT Mumbai held that where additions were based on seized material from a third-party search, proceedings should have been initiated under Section 153C and not Section 147. The assessment was declared invalid.
The Tribunal held that the entire unaccounted turnover from alleged on-money receipts cannot be treated as taxable income. It ruled that reasonable hidden expenditure must be considered while estimating profits.
The ITAT Ahmedabad held that confirmations and banking documents alone were insufficient to establish genuine unsecured loans. The addition under Section 68 and related interest disallowance were upheld.
The ITAT Mumbai held that the doctrine of merger did not bar revision under Section 263 because the applicability of Section 50C was never considered during the reassessment or appellate proceedings. It upheld the revision while directing fresh consideration of the property’s valuation through the prescribed statutory mechanism.
The ITAT Kolkata held that electricity supplied by captive power plants should be benchmarked using the tariff charged by State Electricity Boards to industrial consumers for computing deduction under Section 80-IA. It upheld deletion of the transfer pricing adjustment by following Supreme Court and Calcutta High Court rulings.
The ITAT Delhi held that an appeal against an assessment order under Section 143(3) was not maintainable where no fresh additions or adverse findings were made. It ruled that the taxpayer’s grievance related to the earlier Section 143(1) order.
The ITAT held that notices issued only through the ITBA Portal did not constitute valid service under the Income-tax Act and Rules. It remanded the Section 12AB application for fresh consideration after granting a proper hearing.
