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...
Mahindra & Mahindra Ltd. Vs Addl. CIT (ITAT Mumbai) The assessing officer disallowed the premium paid on FCCB holding that being capital and contingent. The learned CIT(A) allow relief to the assessee by following the decision of tribunal in earlier years. We have seen that the coordinate bench of Tribunal in assessee’s own case for […]
whether it is lawful to first compute capital gain after doing intra head adjustments and whether the deductions u/s 54F should be allowed from the net income computed after intra head adjustments?
Aince the AO has accepted the returned income for which reasons were recorded, therefore, for making any other addition, he should have issued fresh notice
S. Vinodkumar Diamonds, Pvt Ltd. Vs DCIT (ITAT Mumbai) The issue under consideration is whether the disallowance u/s 14A can exceed the exempt income? ITAT states that during the year under consideration the assessee has earned exempt income of Rs. 1.62 lakhs only. The AO disallowed interest expenses under Rule 8D(ii) of Rs. 30,13,853/-. They […]
NEWS DIRECT TAX 1. CBDT notifies ‘Director General / Secretary, CCI’ u/s 138 for sharing of information. [Ref: Notification No. 57/2020/F. No. 225/ 98/2019-ITA-II] 2. CBDT further extends due date for filing of ITR for AY 2019-20 till 30-09-2020. [Ref: Notification No. 56/2020/ F. No. 370142/23/2020-TPL] 3. CBDT amends Forms for furnishing statement of income […]
ACIT Vs Dr. Radhey Shyam Garg (ITAT Jaipur) During the course of assessment proceedings, the AO noted that the assessee has deposited cash of Rs. 2,90,000/- in the Central Bank of India whereas on the said date i.e. 16.11.2015 there was a negative cash balance in the cash book of Rs. 1,01,773.84. The AO accordingly […]
The issue under consideration is whether the UPS is considered as essentially part of computer system and depreciation at rate of 60% charged on it?
Addl. CIT Vs Nortel Networks India Pvt. Ltd (ITAT Delhi) The issue under consideration is whether the Unabsorbed depreciation can be carried forward even if Income Tax Return has not been filed within period of Due date? ITAT states that, the assessee filed return beyond the due date prescribed u/s 139(1) of the Act. In […]
Yogini Mohit Sahita Vs ITO (ITAT Mumbai) The issue under consideration is whether amount received on surrender of such tenancy/sub-tenancy rights would be taxable as capital gains? In the instant case, Smt. Saraswati Vithaldas Sahita occupied the said flat at 2nd floor of the building known as Gangasagar on license basis. This is crystal clear […]
The issue under consideration is whether the re-opening of assessment u/s 147 on the basis of wrong appreciation of facts can be sustained in law?
