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 cash deposits during demonetisation cannot be treated as unexplained when backed by audited books, invoices...
Income Tax : The Tribunal ruled that non-specification of the precise statutory charge under sections 270A(2) and 270A(9) violated principles o...
Income Tax : The Delhi ITAT held that institutions engaged in preservation of environment fall under a specific charitable limb under Section 2...
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 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 : The Tribunal ruled that a genuine share transaction resulting in a short-term loss cannot automatically be treated as a make-belie...
Income Tax : ITAT Mumbai deleted additions exceeding ₹10.57 crore made under section 56(2)(vii)(c) after finding that the Assessing Officer w...
Income Tax : The Tribunal ruled that additions proposed by CPC under Section 143(1)(a) ceased to survive after the Assessing Officer deleted th...
Income Tax : The Tribunal ruled that an assessee following mercantile accounting must offer interest income to tax on accrual basis, irrespecti...
Income Tax : The ITAT Delhi ruled that reimbursement of software costs to foreign AEs on a cost-to-cost basis could not be treated as a profit-...
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 Raipur held that addition under section 68 towards unsecured loan from related party cannot be sustained since identity, creditworthiness of lender and genuineness of transaction proved. Hence, appeal of revenue dismissed.
ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being heard to appellant is bad-in-law. Accordingly, matter restored back to file of CIT(A).
ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as reasonable cause shown and there was only technical breach without any loss to exchequer of the Government.
In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the fact that assessee had filed relevent details during assesssment.
In the matter abovementioned ITAT allowed appeal of the assessee for statistical purpose by way of remand after considering that assessee was unable to submit details before CIT (A) due to unfortunate accident of CA.
In the matter above-mentioned ITAT partly allowed the appeal filed by the assessee by remanded it back to file of TPO after considering that assessee didnot submit proper documents before lower authorities.
ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evidence and arbitrary assumptions.
ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instruction no. 1916 dated 11.05.1994. Accordingly, appeal of the assessee allowed.
ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, appeal of assessee dismissed and order of CIT(A) being well reasoned is upheld.
ITAT Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of the Act. Accordingly, order of CIT(A) set aside and deduction u/s. 80P(2)(d) allowed.
