Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : Section 154 permits rectification of mistakes apparent from the record in assessment orders, intimations, and TDS/TCS processing 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 : It has been observed that in many cases an assessee may wish to make a claim which was not made in the return of income filed unde...
Income Tax : We have attached a file in excel format. The file contains the format of various details which normally assessing officer asks As...
Income Tax : ITAT Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was de...
Income Tax : ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and ear...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : ITAT Surat held that delayed filing of Form 10B is a procedural lapse and remanded the matter after directing the AO to consider t...
Income Tax : ITAT Delhi held that interest and dividend earned from co-operative banks qualify for deduction under Section 80P(2)(d). Totgar's ...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
Reassessment quashed by ITAT Bangalore as failure to pass a speaking order on objections violated mandatory procedure under Sections 147/148, rendering entire proceedings invalid in law.
A three-day delay in filing an appeal was rejected by CIT(A), but the tribunal held that minor delays should not defeat justice. The matter was remanded for decision on merits.
The Tribunal held that reopening under Section 147 was invalid where it was based on third-party search material. It ruled that Section 153C was the correct legal route, leading to deletion of additions.
Transfer of passive infrastructure (PI) assets under a court-approved scheme of demerger without consideration qualified as a gift under Section 47(iii), thereby legitimizing the claim of depreciation on such assets.
The Tribunal held that penalty under section 271(1)(c) cannot be sustained when identical facts in earlier years led to deletion. Applying the principle of consistency, the penalty was deleted.
ITAT Bangalore holds Rule 7B governs coffee income, not Rule 7, and remands case for segregation of own-grown vs purchased coffee. Clarifies 40% taxable business income and limits agricultural exemption.
The tribunal examined whether duty drawback should be taxed on accrual or actual receipt. It held that as per law, duty drawback is taxable only in the year of receipt, and additions based on accrual were unsustainable.
The Tribunal held that advances received under an uncompleted sale agreement are not taxable. Income arises only when transfer or forfeiture occurs.
ITAT Bangalore upholds restricting TP adjustment only to AE transactions, dismissing Revenues appeal. Confirms capacity, working capital adjustments and consistency in forex/provision treatment.
Tribunal rules that Section 14A disallowance must be limited to investments yielding exempt income and orders recomputation under Rule 8D. It also allows ESOP expenses as a valid business deduction under Section 37(1), treating them as an ascertained liability and not a notional or capital expense.
