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 : ITAT Bangalore held that disallowance of agricultural expenses based on estimation is unsustainable without concrete evidence, rul...
Income Tax : ITAT ruled that exemption under Section 54F cannot be denied solely due to missing bills or vouchers, emphasizing the principle of...
Income Tax : Learn about how the holding period of property impacts Capital Gain tax, including ITAT's recent decision clarifying calculations ...
Income Tax : Explore key updates on recent income tax case laws, covering international taxation, business income, and capital gains. Essential...
Income Tax : Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and f...
Income Tax : Learn about hybrid hearing guidelines of Income Tax Appellate Tribunal (ITAT) Indore Bench, effective from October 9, 2023, offeri...
Income Tax : Supreme Court of India has recently issued an order requiring all revenue appeals before the Income Tax Appellate Tribunal (ITAT) ...
Income Tax : At present appeals are fixed in routine and may take one to two years period even for first hearing. it is humbly submitted that t...
Income Tax : CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal (ITAT) on the Allegations of Possessing Disproportio...
Income Tax : Law Minister Shri Ravi Shankar Prasad launches 'itat e-dwar', an e-filing portal of Income Tax Appellate Tribunal. Portal will ena...
Income Tax : n Legal Initiative For Forest And Environment (LIFE Trust) Vs PCIT (ITAT Delhi), the stay application was denied as the test for i...
Income Tax : ITAT Ahmedabad held that merely making a claim that is not sustainable does not amount to furnishing inaccurate particulars of inc...
Income Tax : ITAT Chennai held that construction of new dwelling unit on first floor is eligible for deduction under section 54F of the Income ...
Income Tax : ITAT Mumbai grants relief to Tarun Mohan Jani, ruling that property valuation difference within 10% tolerance limit doesn't warran...
Income Tax : ITAT Ahmedabad held that the AO must record a proper satisfaction regarding the incorrectness of the assessee’s claim before inv...
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...
Income Tax : Office Order No. 08 of 2021 Post facto approval of the Competent Authority is hereby conveyed for extension of term of ad-hoc appo...
Income Tax : In continuation of the SOP (Standard Operating Procedure) dated 01.06.2020 the hearing of cases at 'ITAT Chandigarh Benches from 0...
Yum! Restaurants Marketing Private Ltd. Vs ITO (ITAT Delhi) The assessee’s first claim with respect to the income of the assessee not chargeable to tax because of principles of mutuality has already been decided by the Hon’ble Supreme Court in assessee’s own case reported in 424 ITR 630. The Hon’ble Supreme Court dismissed the appeal […]
The loss arising on account of payment made towards purchase of commodities, which were never delivered to assessee, shall be allowable as regular business loss u/s 28 of the Act and the said loss cannot be considered as speculative.
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT issues Notification extending various Income Tax due date extended to the 30th September, 2021) (including for imposition of penalty under Chapter XXI, Linking of Aadhhar with PAN, for assessment or reassessment completion under section 153 or section 153 B the Income-tax Act. Notification No. 74/2021-Income […]
The Oriental Insurance Co. Ltd. Vs DCIT (ITAT Delhi) The assessee is aggrieved by the action of the AO in making a disallowance of Rs 56,59,609/- on account of Provision made for Standard Assets. It was submitted that as per the scheme of taxing income of the assessee is to be computed as per provisions […]
CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal (ITAT) on the Allegations of Possessing Disproportionate Assets (DA). CENTRAL BUREAU OF INVESTIGATION CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal on the Allegations of Possessing Disproportionate Assets Press Release Dated: 02.07.2021 The Central Bureau of Investigation has registered a case […]
McCANN Erickson (India) Pvt.Ltd. Vs ACIT (ITAT Delhi) we find that the Ld.CIT(A) has relied upon the amendment in the statute. However, the Co-ordinate Bench of this Tribunal after having considered the amendment held in the case of Ashapura Minichem Ltd. vs ADIT 131 TTJ 291 that till 08.05.2010, “the prevailing legal position was that […]
Surana Mutha Bhasali Developers Vs ACIT (ITAT Pune) The doctrine of approbate and reprobate does not allow the Department to blow hot and cold in the same breath, thereby accepting one consequence arising from the statement of the assessee while rejecting the other one. When the assessee made a surrender with the clear backdrop of […]
UKN Properties Pvt. Ltd. Vs DCIT (ITAT Banglore) Since the transactions of purchase of software has been completed prior to rendering of decision by Hon’ble Karnataka High Court and since there were decisions which have held that TDS is not required to be made out of payment made for software purchases, following the above said […]
AO was justified in treating the payment to ROC for increase in capital as capital expenditure as ROC expenses was fees for enhancement of capital.
Sahara India Life Insurance Co. Ltd. Vs ACIT (ITAT Delhi) AO made the addition on the basis of tax audit report where it was mentioned that an amount of Rs. 31,63,861/- towards leave encashment unpaid is disallowed u/s 43B. The CIT(A), following the orders of his predecessor for preceding so many assessment years, deleted the […]
