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 ...
The ITAT Hyderabad held that delayed filing of Form No. 67 cannot result in denial of foreign tax credit under Section 90. It ruled that the filing requirement is directory and cannot override the substantive benefit available under the DTAA.
The ITAT Delhi held that although failure to file Form 10B disentitled the assessee from claiming exemption under Sections 11 and 12, the entire gross receipts could not be taxed where the expenditure was incurred for charitable purposes. The Tribunal upheld deduction of expenditure while denying the statutory exemption.
The ITAT Delhi held that the Revenue could not substitute the assessee’s consistent method of revenue recognition with the Percentage of Completion Method for only one assessment year. It deleted the profit estimation made on work-in-progress.
The ITAT Delhi held that an adjustment against excess contributions already made to an approved gratuity fund could not be disallowed under Section 40A(7). It also held that contributions to an approved gratuity fund are allowable under Section 40A(7)(b), resulting in deletion of the disallowance.
The ITAT Jaipur held that a remittance received from a foreign employer under a retirement plan did not amount to concealment of foreign income or assets. It deleted the Rs.10 lakh penalty after accepting the assessee’s bona fide explanation.
The ITAT Hyderabad held that the assessment orders were time-barred under Section 153 despite the DRP process. Both assessments were quashed after applying the limitation prescribed under the Act.
The ITAT held that reimbursement of travel and conveyance expenses to foreign associated enterprises was not liable for disallowance under Section 40(a)(ia). It followed its earlier ruling in the assessee’s own case and dismissed the Revenue’s appeal.
The ITAT upheld deletion of a ₹6.25 crore addition after finding that the loans were received and repaid through banking channels and supported by documentary evidence. It held that the assessee had established the identity, genuineness, and creditworthiness of the lenders.
ITAT Guwahati held that additions could not be sustained where the transactions related to a separate partnership firm with a different PAN and different partners. The Tribunal deleted the additions due to lack of evidence linking those transactions to the assessee.
The ITAT held that the assessee’s exclusion of income based on the Place of Effective Management provisions involved a bona fide and debatable legal issue. It ruled that such a claim could not be treated as misreporting under Section 270A.
