Income Tax : The three-judge bench of Supreme Court of India in the case of Deputy Commissioner of Income Tax v. M/S Pepsi Foods Ltd struck dow...
Income Tax : A perusal of this order reveals that the Tribunal has recorded a finding that it is empowered by Section 254 of the Act to stay pr...
Income Tax : The existing provisions of Section 254(2) provide for a time-limit of four years from the date of the order of the Appellate Tribu...
Income Tax : Bombay High Court held that failure to pass a fresh assessment within Section 153 limitation required acceptance of the returned i...
Income Tax : ITAT held the assessment time-barred as the AO failed to pass the final order within the mandatory timeline under Section 144C(13)...
Income Tax : Provisions that were typically restricted or viewed as contingent become fully deductible business expenses the moment they were q...
Income Tax : The ITAT held that the assessment was invalid because it was completed by an Assistant Commissioner who lacked pecuniary jurisdict...
Income Tax : ITAT Mumbai allowed deduction of ESOP expenses under Section 37(1) by following Karnataka High Court's ruling in Biocon Ltd. Tribu...
whether the additional ground submitted by the assessee should be allowed by the tribunal by considering that the assessee has not claimed exemption in the return filed due to inadvertence?
If the Revenue has any grievance against the order of the Tribunal, the Revenue can go before the High Court by filing appeal u/s 260A. The Tribunal cannot recall its own order in the garb of power vested u/s 254(2) of the Act.
The issue under consideration is regarding application of Stay of Demand in front of Tribunal, whether the amendment done by Finance Act, 2020 in Section 254 will be applicable in present case?
PCIT Vs ITAT (Bombay High Court) From a careful reading of the provision, it is seen that Tribunal is vested with the power to rectify any mistake apparent from the record to amend any order passed by it under sub-section (1) of Section 254 at any time within six months from the end of the […]
Engineering Professional Co. Pvt. Ltd. Vs DCIT (Gujarat High Court) In the given case, Assessee has filed appeal before ITAT against the order passed by the A.O. u/s 44AD. With respect to that appeal ITAT passed the order and state that “the Assessee is directed to attend the assessment proceedings and justify its claim of […]
The income tax Appellate Tribunal while hearing an Appeal under Section 254(1) in a matter where registration under Section 12(AA) has been denied by Commissioner income tax can itself pass an order directing commissioner to grant registration in case the income tax Appellate Tribunal disagrees with the satisfaction of the Commissioner on the basis of material already on record before the Commissioner.
Explore the ITAT Mumbai judgment in Anandkumar Jain vs ITO, highlighting rectification under Section 154 for deduction under Section 80HHC based on subsequent Supreme Court decisions.
Where on a fair reading of the judgment of the Co-ordinate Bench, it appeared that it had taken into account all relevant material and had not taken into account any irrelevant material in basing its conclusions, then the decision of the Co-ordinate Bench, was not liable to be interfered with, unless, of course, the conclusions arrived at by the Bench were perverse. Under Section 254 Only glaring and mistake apparent on the face of the record alone could be rectified which was not apparent in the of assessee.
M/s. Ushodaya Enterprises Private Ltd Vs Addl. CIT (TDS) (ITAT Hyderabad) We have perused the order of the Tribunal and find that in Para 8 of the order, the Tribunal has considered the applicability of sub-section (3) of section 201(1) also to 201(1A) and has clearly held that sub section (3) refers only to an […]
Shri Ratanlal C. Bafna Vs JCIT (ITAT Pune) When appeal has been filed before the Hon’ble High Court, the appeal is admitted and substantial question of law has been framed in the said appeal, then the Tribunal cannot recall the order. In the present case since the appeal against the order of the Tribunal has […]
