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 : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
Income Tax : ITAT Bangalore restored the Section 54F claim after noting that medical issues and portal difficulties prevented timely filing of ...
Income Tax : The Tribunal held that additions cannot stand without a clear link between seized material and the assessee. It ruled that third-p...
Income Tax : ITAT Kolkata remands case on disallowance of subcontractor expenses, stressing need for evidence, due diligence, and verification ...
Income Tax : The Tribunal held that the Indian entity was only a distributor and not a technology or content owner. It rejected the Revenue’s...
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 : Learn about hybrid hearing guidelines of Income Tax Appellate Tribunal (ITAT) Indore Bench, effective from October 9, 2023, offeri...
Income Tax : Mumbai ITAT held that additions for alleged accommodation entries and commission income cannot be sustained solely on retracted st...
Income Tax : The ITAT Amritsar reduced additions on unexplained cash deposits after considering that the assessee and his wife were senior citi...
Income Tax : The ITAT Amritsar remanded a case involving denial of section 54B exemption where the assessee relied on Girdawari records to prov...
Income Tax : The Mumbai ITAT held that additions under Section 69 cannot be sustained merely on the basis of uncorroborated excel-sheet entries...
Income Tax : The Bangalore ITAT held that genuine business sales recorded in audited books cannot be treated as unexplained cash credits merely...
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...
ITAT Chennai held that the excess payment over the net book value of assets and liabilities acquired on account of amalgamation is in the nature of ‘goodwill’ and is eligible for depreciation u/s.32(1)(ii) of the Income Tax Act.
The ITAT held that revision under Section 263 cannot be invoked where the Assessing Officer has conducted detailed inquiries and adopted a plausible view. The Tribunal ruled that a mere change of opinion by the PCIT does not render the assessment order erroneous or prejudicial.
The Tribunal held that dividend received from identifiable mutual funds through banking channels cannot be treated as unexplained income. It ruled that proper documentation and traceability negate applicability of Section 68.
The Tribunal held that the TPO failed to consider the assessee’s Internal CUP benchmarking despite directions from the DRP. It directed fresh examination using the correct method and excluded certain NCDs from adjustment.
The issue was whether exemption under Section 54 could be restricted to one property. ITAT held that prior to the 2015 amendment, multiple residential properties were eligible, and full deduction must be allowed.
The ITAT held that a 29-day delay in filing Form 10B is a procedural lapse and cannot be the sole basis for denying exemption under Sections 11 and 12. It ruled that substantial compliance and availability of the audit report before processing must be considered. The AO was directed to reassess the exemption claim accordingly.
The Tribunal held that penalty under Section 271(1)(c) cannot be imposed where income variation arises from genuine computational mistakes. It ruled that voluntary correction during assessment indicates absence of intent to conceal income. The penalty was there-fore deleted.
The Tribunal held that dismissal of appeal without clearly pointing out deficiencies and allowing correction violates natural justice. It restored the matter for fresh adjudication on merits.
The ITAT held that reassessment cannot run parallel to ongoing scrutiny proceedings. Such action was declared without jurisdiction and the assessment was quashed.
The Tribunal held that entire purchases cannot be disallowed when corresponding sales are accepted. It upheld restriction of addition to profit element, preventing unrealistic income computation.
