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 : Bangalore ITAT remanded FD interest addition, directing verification of fund ownership and held Form 26AS alone is not determinati...
Income Tax : Bangalore ITAT held entire alleged bogus purchases cannot be added where sales are accepted, restricting the addition to 1.15% pro...
Income Tax : Bangalore ITAT held TP adjustments apply only to international AE transactions and upheld verified capacity, working capital and o...
Income Tax : ITAT Delhi reduced the Section 69A addition to ₹5 lakh, holding the cash deposits were substantially supported by withdrawals an...
Income Tax : ITAT Delhi condoned delay under Section 249(3) and remanded the appeals after finding breach of natural justice in dismissal witho...
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 Income Tax Appellate Tribunal {ITAT} Delhi set aside the CIT{A}’s order, remanding the addition of ₹5 crore under Section 68 back for fresh scrutiny. The issue revolves around Charan Renewable Energy Pvt. Ltd. receiving share capital at a high premium from 13 companies that the Assessing Officer (AO} suspected were paper companies due to unserved statutory notices.
The ITAT upheld the deletion of additions made under Section 153A for an unabated assessment year because the Assessing Officer relied solely on entries in the regular books of account. The ruling reaffirmed the Supreme Court’s mandate that no addition is permissible in completed (unabated) assessments without specific, incriminating material seized during the search.
Delhi ITAT held that delayed employees’ PF/ESI contributions are disallowable even under section 143(1), citing Supreme Court in Checkmate Services. However, ICDS-based depreciation adjustments exceed CPC powers and were deleted.
ITAT Delhi held that when an assessee’s own funds far exceed interest-free advances, no disallowance under Section 36(1)(iii) can be made. Interest addition of ₹5.62 crore was deleted, and 14A disallowance was limited to dividend-yielding investments.
The ITAT Chennai Bench dismissed an appeal because the Assessing Officer (AO) was located in Hyderabad, violating Rule 4 which dictates ITAT jurisdiction is based on the AO’s office. The ruling affirmed the principle from the Supreme Court that appeals must be filed before the correct jurisdictional ITAT Bench, though it granted the taxpayer liberty to refile properly.
The ITAT ruled on a Transfer Pricing adjustment, holding that companies failing the 75% export filter (MAA Business Solutions) and the Related Party Transaction (RPT) filter (WNS Global) must be excluded from the comparable set for ITES providers. The Tribunal directed a fresh re-computation of the arm’s length price (ALP) after applying correct filters, providing relief to the assessee.
The ITAT ruled that a claimed business loss on the sale of a scrip, allegedly part of a penny stock syndicate, was genuine and allowable. The ruling emphasized that transactions supported by complete documentation (contract notes, demat, bank statements) and where no tax-exempt capital gain was claimed cannot be disallowed merely based on a general modus operandi or third-party information.
ITAT directed the AO/TPO to accept the corrected operating margins for comparables in the Business Support Services segment, specifically for Forbes Facility Services Pvt. Ltd. The Tribunal’s order rectifies computational errors and ensures that the benchmarking is based on correct financial data, allowing for proper recomputation of the ALP.
ITAT annulled an assessment and addition of $\text{Rs. }31.80$ crore of share capital made under Section 153C, ruling that the jurisdiction was invalid for an unabated assessment year. The key takeaway is that for an already completed assessment, the AO must rely on incriminating material found during the search, not mere statutory documents already in the books.
The ITAT ruled that Compulsorily Convertible Debentures (CCDs) legally remain debt until conversion, rejecting the Transfer Pricing Officers (TPO) re-characterization of them as equity. The Tribunal quashed the Nil Arm’s Length Price (ALP) for associated interest and remanded the matter for fresh benchmarking.
