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 deleted Section 40(a)(ia), notional interest, ICDS and Section 68 additions, citing Form 26A compliance and evident...
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 : 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 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.
ITAT upheld the deletion of a 25% bogus purchase addition, ruling that the AO cannot disallow purchases based merely on suspicion and circumstantial evidence when the audited books of account were not rejected. The key takeaway is that without finding defects or rejecting the books, and while accepting sales, disallowance of purchases is impermissible.
Delhi ITAT ruled that a negative lien is not a corporate guarantee, quashing the Rs.16.48 Cr transfer pricing adjustment under Section 92B. Negative lien imposes no repayment liability.
The issue was whether agricultural land compulsorily acquired in NOIDA was a taxable capital asset. The ITAT, relying on judicial precedent, ruled it was pure agricultural land and thus not taxable, rejecting the taxman’s attempt to treat the NOIDA area as a municipality.
ITAT Chennai held that revisional powers under Section 263 cannot be used to substitute the Assessing Officer’s view when proper enquiry was conducted. The AO’s acceptance of business loss and PF/ESI deductions was valid.
The ITAT held a reassessment under sections 144/147 void due to the absence of a mandatory 143(2) notice. Revenue’s claim that participation cures defects under 292BB was rejected, emphasizing strict compliance with statutory notice requirements.
The ITAT quashed an assessment where the taxpayer’s declared income exceeded the Rs.30 Lakh limit for an ITO in a metro city. Relying on CBDT Instruction No. 1/2011 and Calcutta High Court precedent, the Tribunal ruled that the assessment suffered from a lack of inherent jurisdiction and was void ab initio.
An assessment was quashed as the ACIT (a senior authority) issued the reassessment notice for an income below the Rs.15 Lakh limit, which was exclusively the ITO’s jurisdiction. The Tribunal affirmed that this jurisdictional defect is fatal and cannot be cured, following the Bombay High Court’s ruling.
The ITAT quashed a scrutiny assessment because the Rs.143(2) notice was issued by the ITO, a junior officer, despite the declared corporate income exceeding the Rs. 30 Lakh metro city limit. Jurisdiction for issuing the notice and conducting the assessment belonged solely to the DCIT, making the entire proceeding illegal.
The Tribunal confirmed that no disallowance under Section 14A can be made when the assessee earned no exempt income during the year. Following Calcutta High Court precedents, the ITAT rejected the Revenue’s attempt to apply the prospective Finance Act 2022 amendment to the relevant assessment year (AY 2014-15).
