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Income Tax : ITAT Bangalore remands appeal after delay caused by FAA notice sent to outdated email, directing fresh review and updated contact ...
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 : 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...
Rajshree Sugars and Chemicals Limited Vs ACIT (ITAT Chennai) As we have already held that the receipt on the sale of carbon credits is liable to be treated as capital receipts, admittedly, the expenditure incurred by the assessee in respect of the sale of the carbon credits cannot be treated as Revenue expenditure at all. […]
K.K. Construction Co. Vs. ACIT (ITAT Jaipur) Conclusion: Dis allowance under section 40A(3) could not be made as identity of persons from whom purchases had been made was established; source of cash payments was clearly identifiable in form of withdrawals from assessee’s bank accounts and the said details were submitted before AO, thus, the genuineness […]
TDR is a capital asset, because it is inextricably linked with immovable property and also flows from transfer of immovable property. When, TDR is considered to be an immovable property/assets within the meaning of section 2(14) of the I.T.Act, then any right in such TDR is also needs to be considered as a asset within the meaning of section 2(14) of the I.T.Act, 1961. Therefore, we are of the considered view that the Ld. CIT(A) was erred in considering surplus from transfer of TDR under the head speculative business profits.
The inability to meet the contractual obligation by the assessee cannot be termed as an offence or infraction of law so as to deny the claim of the assessee by invoking the expression 1 to sec 37(1) of the Act.
Where AO did not pass any speaking order in disposing of assessee|s objections against notice under section 148, the assessment order passed subsequent to such notice, would be considered as bad in law and hence, the same was liable to be quashed.
M/s Bhagwati Colonizers Pvt. Ltd Vs ITO (ITAT Amritsar) In the affidavit, the main reason cited by the assessee for the delay is that the copy of appellate order was received by the counsel who appeared before the Ld CIT(A), but the counsel never informed the assessee about the disposal of the appeal by Ld […]
Cynthia Ramona Chellappa Vs. ITO (ITAT Chennai) The issue under consideration is whether the amount received through the Will of God-Mother is eligible for exemption u/s 56(2)(vii)? ITAT states that a perusal of the provisions of Section 56(2)(vii) shows that any amount received by an individual without consideration and the aggregate value exceeds 50,000, the […]
Shyam Bihari Gandhi Vs ITO (ITAT Delhi) As regards addition of Rs. 20,38,472/- on account of payment of interest to bank which the assessee has mentioned in the profit and loss account. The revenue authorities have noticed that a loan (liability) of Rs. 1,11,73,554/- against which the assessee has claimed interest of Rs. 20,38,472/- and […]
TDS return filed beyond time cannot be declared as non est in law and that the CIT(A) does not have powers of enhancement in an appeal against an order under section 200A. The CIT(A) cannot travel beyond the subject-matter of the appeal, which was as to whether fee under section 234E can be levied or not; and not the question, whether the return of TDS filed by the assessee was non est in law? The CIT(A) had no power in the appeal in the present case to declare return of TDS filed by the assessee as non est in law.
Aramark India Pvt. Ltd. vs DCIT (ITAT Mumbai) case discusses the disallowance of depreciation on goodwill, citing non-existing asset and lack of enduring benefit.
