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 Pune allowed deduction under Section 80P(2)(d) on dividend from co-operative banks, following coordinate bench decisions for ...
Income Tax : ITAT Pune remanded the Section 80P deduction issue for fresh assessment after noting relevant precedents and directing reconsidera...
Income Tax : ITAT Pune allowed deduction under Section 80P(2)(a)(i) on interest from co-operative bank deposits, following binding judicial pre...
Income Tax : Chennai ITAT held Section 50C provisos applicable to oral agreements backed by bank payments and deleted related additions, remand...
Income Tax : Chennai ITAT deleted the Section 271D penalty, holding temporary cash received to demonstrate visa funds was not a loan attracting...
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 Tribunal held that reopening under Section 147 cannot rest merely on information received from the Investigation Wing or Insight Portal. Since the Assessing Officer conducted no independent enquiry or verification, the reassessment proceedings were quashed.
The Tribunal held that offshore supply receipts could not be taxed under Section 44BB where the Revenue failed to prove the existence of a Permanent Establishment in India. The addition of Rs. 99.50 crore was therefore deleted.
ITAT held that execution and registration of a sale deed completes the transfer for capital gains purposes. Delayed receipt of sale consideration or dishonoured cheques cannot postpone taxability when the registered transfer remains valid.
The ITAT Kolkata held that cash payments made through agents for procuring paddy from farmers were covered by Rule 6DD exceptions. Consequently, the disallowance under Section 40A(3) was deleted.
The ITAT Mumbai held that the assessee had satisfactorily explained the source of Rs. 1.25 crore through bank records, PPF withdrawals, and documented fund movements. Since the transactions were verifiable through banking channels, the addition under Section 69 was deleted.
The ITAT Kolkata found that the assessees share capital remained unchanged throughout the year and no fresh capital was received. As a result, the addition under Section 68 for alleged unexplained share capital was deleted.
ITAT Delhi held that a bad debt deduction cannot be denied once the debt is validly written off in the books of account. The Tribunal ruled that proof of actual irrecoverability was not required in view of CBDT circulars and judicial precedent.
The ITAT Kolkata held that the Assessing Officer could not examine issues beyond the limited scrutiny mandate without following CBDT-prescribed procedures for conversion into complete scrutiny. As a result, the interest disallowance under Section 36(1)(iii) was deleted.
The Tribunal deleted the disallowance of advertisement and publicity expenses after finding that sponsorship of football teams, tournaments, and green movement initiatives was undertaken for business promotion. It held that such expenditure qualified as allowable business expenses.
The Tribunal held that delay in filing appeals was justified where the assessee had shifted to a new PAN and filed returns under it. The matter was remanded to the CIT(A) for fresh consideration.
