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...
Tribunal held that a personal loan taken against mortgage was advanced to the spouse with interest, and netting of interest paid and received is allowed under Section 57. Disallowance of ₹7.68 lakh was deleted.
ITAT Mumbai deletes ₹14.5 Cr addition u/s 68 on unsecured loans, ruling onus shifts to Revenue once taxpayer provides PAN, bank statements, and ITRs of lenders.
ITAT Chandigarh deletes ₹1.64 Cr tax addition, ruling interest under Section 28 of the Land Acquisition Act is part of compensation, exempt under Section 10(37) for agricultural land.
Assessee did not comply with subsequent statutory notices, leading to an ex-parte assessment order under section 144, where the entire cash deposit was added back to its income under section 69A.
ITAT Hyderabad rules Excel sheets from an accountant’s laptop aren’t ‘books’ or ‘assets,’ quashing reassessment notices against Exel Rubber for mechanical sanction and insufficient evidence.
Recurring advisory/consultancy services without transfer of know-how/technical skill did not satisfy “make available” requirement under Article 12(4)(b) DTAA and therefore, payments couldn’t be taxed as FTS.
ITAT Kolkata deletes Rs.8.5 lakh addition for cash gift against Abdus Sattar. Tribunal ruled that the donor’s capacity must be judged by his balance sheet, not just current income, reversing the CIT(A)’s finding.
ITAT Kolkata deletes Rs.50 lakh addition for excess stock found during survey, ruling the AO failed to point out defects or reject audited books. Assessee had already accounted for the stock and paid advance tax.
ITAT Kolkata partially allows appeal for Sukumar Solvent, slashing additions. Tribunal ruled only the 12% profit margin on excess stock is taxable and that TDS on freight is not required if PAN is provided by the transporter.
ITAT Kolkata deletes S. 270A penalty on St. Peters School for disallowed depreciation. Tribunal ruled the incorrect claim was a bona fide clerical error, not misreporting, citing the Reliance Petro and Price Water House SC judgments.
