The ITAT Ahmedabad ruled that the amendment to Section 80AC, requiring timely tax return filing for Chapter VIA deductions, is not applicable to Assessment Year 2017-18.
The Income Tax Appellate Tribunal (ITAT) in Kolkata has ruled in favor of Surya Agro Products Pvt. Ltd., invalidating a tax assessment for the Assessment Year 2012-13.
The Income Tax Appellate Tribunal (ITAT) remanded the tax assessment of Maruti Enterprises back to the Assessing Officer, citing a violation of natural justice.
Delhi ITAT deletes a Rs.190 Cr tax addition on share premium, citing impermissible double taxation. The ruling upholds the principle that the same income cannot be taxed twice.
The Income Tax Appellate Tribunal (ITAT), Bangalore, ruled that capital gains from the sale of a property gifted by a husband to his wife must be clubbed with the husband’s income, not the wife’s, under Section 64(1)(iv) of the Income Tax Act.
Learn how the ITAT, in the Jitudan Ravatdan Gadhvi vs. ITO case, condoned a delay in appeal and overturned a best-judgment assessment, finding that the taxpayer’s cash deposits were a legitimate part of his business operations.
The ITAT in Kolkata set aside a ₹9.32 crore tax addition on share sales by Superdeal Resources, ruling that well-documented transactions are not bogus. The order underscores the need for substantive evidence over suspicion.
The ITAT in Kolkata ruled that tax claims cannot be denied on technicalities when documentation is on record. The case of Ambika Metaliks highlights the importance of fairness.
In a key decision, ITAT Ahmedabad set aside a ₹6.51 crore tax demand against a government-funded educational society, holding that procedural lapses do not defeat a substantive right to exemption when all eligibility conditions are met.
In the case of Chandrakant Atmaram Acharya, the ITAT deleted a Rs.10.80 lakh addition for unexplained investments but imposed a Rs.5,000 cost on the taxpayer for non-cooperation with the tax department.
