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 Tribunal held that the DTAA overrides the Income Tax Act, and income taxed abroad cannot be taxed again in India. The ITAT rejected the view that authorities lack power to condone delay, allowing the FTC claim after verification of the eventually filed Form 67.
The ITAT ruled that loss from trading in foreign currency derivatives on a recognized exchange is non-speculative business loss, eligible for set-off under Section 43(5)(d). The Tribunal held that such transactions are covered by the exception for derivatives and rejected the lower authorities’ mechanical disallowance.
The ITAT invalidated an assessment due to two fundamental defects: the 143(2) notice was invalid as it failed to specify the type of scrutiny (Limited/ Complete) per CBDT instructions, and the assessment was completed by the ACIT, who lacked pecuniary jurisdiction over the Rs.10.41 Lakh income case. The ruling stresses that procedural compliance with binding CBDT instructions is mandatory, or the entire assessment becomes void.
This decision emphasizes that violation of binding CBDT instructions, such as failing to specify the category of scrutiny in the Sec. 143(2) notice, strikes at the root of the assessment. The Kolkata Tribunal quashed the entire Sec. 143(3) assessment as being without jurisdiction, affirming that legal grounds can be raised at any stage.
ITAT Chennai rules that the Section 54 capital gains deduction cannot be denied solely because sale proceeds weren’t deposited in CGAS before the return deadline, provided the amount is used within three years.
The ITAT Kolkata quashed a search assessment (Sec. 153A) because a search was never physically conducted on the assessee’s premises, ruling that a mere mention in a panchnama is insufficient to confer jurisdiction. The key takeaway is that an assessment under Sec. 153A is void ab initio if an actual search on the person or property of the assessee is not initiated and conducted.
ITAT condones 498-day delay & remands case for de novo assessment, ruling that a mere mistaken capital gains declaration by a previous representative doesn’t create tax liability. AO must verify if actual property transfer occurred, as documents show no sale.
This ruling invalidates an income tax addition that relied entirely on electronic data (an excel sheet) seized from a third party without the mandatory certificate under Section 65B of the Evidence Act. The ITAT stressed that in the absence of corroborative evidence, clear linking of the assessee to the data, and providing due process, the addition made was illegal and unsustainable in law.
Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(4) of the India-Norway DTAA (7.5% presumptive tax on gross receipts), rejecting the Assessing Officer’s attempt to tax it under Section 44BB of the Income Tax Act.
The ITAT ruled that the Assessing Officer’s mechanical application of Rule 8D for Section 14A disallowance was invalid without recording proper satisfaction. The Tribunal directed that only net interest (interest paid less interest earned) and only those investments that yielded exempt income should be considered for re-computation, upholding the assessee’s legal objections.
