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 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 : ITAT Pune remanded the Section 80P deduction issue for fresh assessment after noting relevant precedents and directing reconsidera...
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 Ranchi held that additions for unsecured loans could not survive in the lender’s hands when the recipient company had already disclosed the entire amount as income. The Revenue’s inability to rebut this factual finding led to dismissal of the appeals.
The Mumbai ITAT held that Section 263 revision was valid where the Assessing Officer failed to conduct necessary enquiries into suspected bogus purchases. The ruling emphasizes that inadequate verification can render an assessment order erroneous and prejudicial to Revenue.
The Tribunal held that income could not be assessed in the hands of a firm that had ceased to exist years earlier. Since the deposits belonged to the successor proprietorship concern, the addition was deleted.
ITAT Ahmedabad held that opening balances and share application money converted into loans from earlier years fall outside the scope of Section 68 for the relevant assessment year. The Tribunal deleted the entire addition after finding factual and legal infirmities in the assessment.
The Delhi ITAT held that reassessment under Section 147 was invalid where the disputed amounts represented sale proceeds already disclosed and offered to tax. The Tribunal ruled that no income had escaped assessment in such circumstances.
ITAT Pune held that Foreign Tax Credit cannot be denied merely because Form 67 was filed after the prescribed due date. The Tribunal ruled that filing Form 67 is a procedural requirement and cannot override the substantive right to FTC under the DTAA.
The Tribunal ruled that Section 69A cannot be mechanically invoked without establishing that the deposits constitute unexplained income. Evidence of genuine business activity justified taxation only of the profit component.
The ITAT Mumbai held that settlement under the Direct Tax Vivad Se Vishwas Scheme does not extinguish the legal existence of a reassessment order. Limitation under Section 154 must therefore be computed from the reassessment order, making the rectification application maintainable.
The Tribunal held that business promotion and development expenses cannot be disallowed without concrete evidence establishing their non-genuineness. Mere assumptions and doubts are insufficient to deny legitimate business expenditure.
The ITAT Agra declined to condone an extraordinary delay of 2,799 days in filing the quantum appeal, holding that the explanation regarding non-service of the appellate order did not constitute sufficient cause. The appeal was dismissed in limine.
