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 Kolkata quashed the assessment as the jurisdictional Assessing Officer did not issue the mandatory notice under Section 143(2...
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 : 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 Bangalore ruled that income from sun-dried raisins is agricultural income, exempt from tax, if a farmer uses traditional methods without machinery.
The Mumbai ITAT set aside a PCIT’s revisionary order against Procter and Gamble, ruling the AO’s original inquiry was adequate and not a basis for revision.
ITAT Mumbai ruled that capital gains from a property sale were taxable in the year the sale deed was executed, not the year of the MoU, due to a prior bank lien. The court also clarified tax rates and acquisition costs.
The ITAT Mumbai restricted a bogus purchase addition to the profit element, distinguishing the case from a prior ruling because the assessee provided a source for the payments.
The ITAT Mumbai deleted a penny stock addition, ruling that the income tax department’s reliance on suspicion and a general investigation report was insufficient to dislodge the assessee’s proof of genuine transactions.
The ITAT Mumbai has ruled that brought-forward business losses cannot be set off against short-term capital gains from the sale of depreciated assets, upholding the disallowance.
ITAT Delhi upheld the disallowance of setting off brought-forward business losses against short-term capital gains from the sale of depreciated assets, clarifying the inapplicability of Section 41(2).
The ITAT Mumbai quashed a penalty against an assessee, ruling that the penalty order was time-barred as it was issued beyond the limitation period specified under Section 275(1)(c).
The ITAT Delhi deleted a demonetisation-related cash deposit addition for a jeweller, ruling that Section 68 doesn’t apply to recorded sales and that a profit cannot be taxed twice.
ITAT Delhi deleted penalties against Sahara India Commercial, citing a defective “omnibus” notice and a time-barred, invalid reassessment based on “borrowed satisfaction.”
