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 issue was whether an assessment can continue after the assessee’s death. The Tribunal held such an order void ab initio when the legal heir is not substituted.
The Tribunal applied common sense to accept that some jewellery belonged to visiting relatives. It granted partial deletion, stressing that complete relief requires corroborative evidence.
Denial of the 15% rate through summary processing was held invalid. Eligibility under section 115BAB requires examination and hearing, not mechanical CPC adjustments.
The Tribunal upheld deletion of a ₹2.27 crore addition after finding that the capital deposit did not pertain to the assessment year in question. Without a year-wise nexus, section 68 could not be invoked.
The case examined whether reassessment after four years was valid when the issues were already examined in scrutiny. The Tribunal held the reopening invalid as a mere change of opinion and quashed the reassessment.
The case clarifies that commission paid to foreign agents for export facilitation abroad cannot be disallowed for non-deduction of tax. Absence of income accrual in India was decisive.
The Tribunal held that long-term capital gains from listed share sales could not be treated as bogus merely due to high profits. In the absence of contrary evidence, additions under Sections 68 and 69C were deleted.
ITAT Mumbai held that artificial profits or losses arising from Client Code Modification in share transactions carried out in F&O segment requires transaction-wise reconciliation. Accordingly, matter restore to the file of AO.
The AO accepted documents but still made an addition without pointing out defects. The Tribunal ruled that section 68 requires adverse findings, not assumptions.
The Tribunal examined whether delayed filing of Form 67 can defeat a valid FTC claim. It ruled that Rule 128(9) is directory and FTC cannot be denied when substantive conditions are met.
