Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
Income Tax : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT Nagpur held that a 50-year lease is not a transfer under Section 2(47)(vi) where the transaction is only a lease and not an a...
Income Tax : ITAT Ahmedabad allowed Section 10(10B) exemption on BSNL VRS compensation, following coordinate bench rulings despite no claim in ...
Income Tax : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
ITAT remanded the issue of applying DTAA rates to dividends paid to non-resident shareholders because crucial documents such as TRCs and related records were not available on record.
ITAT Pune held that compensation received under BSNL VRS-2019 falls under Section 10(10B) as retrenchment compensation and is exempt from tax. The Tribunal directed reassessment of tax liability and grant of refunds after verification.
Periodic or annual fees paid to a sports governing body to sustain annual league participation rights qualify as operational revenue expenses, not capital investments. Hospitality, travel, and boarding expenses incurred on celebrities and VIPs were fully deductible if they were used strategically to amplify brand visibility, ticket distribution, and corporate sponsorships.
ITAT Chennai held that there is no provision under the Income-tax Act allowing substitution of the actual cost of land with its fair market value while computing deduction under Section 80-IB(10). The Tribunal directed that deduction be computed based on profits disclosed in the books, as the land cost had already been accounted for.
The ITAT held that income disclosed during a survey could not be reclassified from business income to Section 69A income through rectification proceedings. A debatable issue cannot be treated as a mistake apparent from the record.
The Tribunal ruled that condonation of delay by the competent authority removes the statutory obstacle created by Section 80AC for late-filed returns. As a result, the assessee’s claim for deduction under Section 80P must be reconsidered in accordance with law.
The Mumbai ITAT found that the assessment order was passed without granting a reasonable opportunity to the assessee to furnish complete details or avail a hearing. The matter was remanded for fresh adjudication.
The Tribunal sent the issue of deduction for political donations back to the Assessing Officer after finding that bank transaction details had not been properly verified. Fresh adjudication was directed after giving the assessee an opportunity of hearing.
The Tribunal held that AY 2010-11 was outside the permissible ten-year assessment block computable under Section 153A. Applying the Delhi High Court’s interpretation in Ojjus Medicare, it found the notice itself invalid. As a result, the assessment proceedings were quashed and the appeals were allowed.
The Tribunal held that disallowance of 20% of total purchases was unsustainable where the Assessing Officer had accepted sales, stock records, and quantitative details. Mere non-service of notices under Section 133(6) could not justify treating all purchases as bogus.
