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)(a)(i) on interest and dividend income from co-operative bank deposits, setting as...
Income Tax : ITAT Pune allowed deduction under Section 80P(2)(a)(i) on interest from deposits with co-operative and scheduled banks, following ...
Income Tax : ITAT Pune allowed deduction under Sections 80P(2)(a)(i) and 80P(2)(d) on interest earned from deposits with co-operative and sched...
Income Tax : Hyderabad ITAT upheld capital gains on a registered sale deed but remanded LTCG computation for fresh verification of the cost of ...
Income Tax : ITAT Pune allowed deduction under Section 80P(2)(d) on dividend from co-operative banks, following coordinate bench decisions for ...
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...
ITAT Delhi held that a concealment penalty under Section 271(1)(c) cannot be sustained where the addition is based on estimation of gross profit. The penalty was accordingly deleted.
The Delhi ITAT upheld the addition of deemed house property income after finding that the assessee failed to support his claims with evidence. The Tribunal held that there was no reason to interfere with the CIT(A)’s factual findings.
The Tribunal held that the CIT(A) had incorrectly applied the principle relating to assessments of non-existent entities without examining the factual circumstances of the firm’s conversion into a proprietorship. The matter was remanded for further inquiry.
The Tribunal deleted the disallowance after finding no evidence that cash rent payments exceeded ₹10,000 on any single day. The ruling underscores that Section 40A(3) cannot be invoked without establishing an actual breach of the prescribed limit.
ITAT sustained the adoption of fair market value under Section 50C after finding that seized cash represented on-money from property transactions. The Tribunal upheld the valuation determined through the DVO process.
ITAT Chennai condoned a 311-day delay in filing the appeal and restored the matter for fresh adjudication. The Tribunal held that the assessee should receive one final opportunity to explain the source of cash deposits with supporting documents.
ITAT Chennai held that indexation on construction cost cannot be denied when details of the building are already contained in the registered sale deed and its annexure. The Tribunal directed recomputation of capital gains after allowing indexed construction cost.
ITAT Ahmedabad upheld reassessment proceedings after finding that seized diaries recorded unaccounted cash transactions exceeding prescribed limits. The Tribunal held that statutory conditions for reopening were satisfied.
The Tribunal ruled that Section 153C requires the AO of the other person to independently assess whether seized documents have a bearing on that person’s income. A mechanical satisfaction note based solely on another officer’s communication was held invalid.
Jaipur ITAT held that reassessment proceedings were invalid because the Assessing Officer mechanically relied on Investigation Wing information without conducting independent verification.
