The Tribunal ruled that the Assessing Officer failed to conduct a proper inquiry into whether a large plot of land with a small house constituted a residential house for the purpose of the exemption. The case has been remanded for fresh adjudication.
Tribunal ruled that unexplained cash deposits of ₹13.46 lakh by a mobile phone trader require fresh examination. ITAT emphasized natural justice and allowed the assessee to submit audited accounts and sales evidence.
ITAT Mumbai ruled that referral payments made by an individual insurance agent to unlicensed persons do not fall under TDS provisions of Section 194D. Arbitrary disallowance of such commissions was deleted.
ITAT Jaipur ruled that merely possessing registered property deeds cannot be treated as incriminating material under Sections 153A/153C of Income Tax Act.
Income surrendered during survey and accounted as business income should not attract section 115BBE rates, clarifying application of sections 69, 69A, and 69B.
The ITAT Nagpur has set aside a revision order by the PCIT against Nirmalkumar Agrawal (HUF). The tribunal ruled that the PCIT could not invoke Section 263 to revise an assessment where the AO had already conducted a thorough enquiry and formed a plausible view, even if a different view was possible.
Explore the ITAT Cochin’s decision in the Chundayil Kalam Girijadevi vs. ITO case, which sets a precedent that a tax penalty cannot be levied for an honest mistake in claiming a higher gratuity exemption.
ITAT Panaji rules in favor of Shirguppi Sugar Works, deleting an income tax addition. The Tribunal held that interest earned on FDs, placed to secure bank guarantees for importing capital goods, is directly linked to the project and can be set off against capital costs, not taxed as “income from other sources.
ITAT Ahmedabad confirmed that the unsecured loan of ₹80.94 lakh given by Mahadev Shipbreakers to KCPL was genuine, routed through banking channels, and repaid with interest and TDS. The Tribunal dismissed Revenue’s appeal, noting AO’s allegations were generalized and unsubstantiated.
The ITAT Delhi ruled that a UK company’s receipts from Indian airlines for in-flight content are not taxable as royalty or fees for technical services, as no copyright or technical know-how was transferred.
