Judgements, orders and updates from Income Tax Tribunal.
242 updates
Assessee’s Absence and Limited Scope of Appeal Prove Decisive The Mumbai “SMC” Bench of the Income Tax Appellate Tribunal dismissed the appeal filed by Santilal Beni Gupta for…
Background The Income Tax Appellate Tribunal Delhi Bench on Monday dismissed a departmental appeal after the Revenue admitted that it was a duplicate filing against the same…
Background The Income Tax Appellate Tribunal Mumbai Bench has remanded a capital gains dispute for fresh adjudication after observing that income arising from a jointly owned…
Background The Income Tax Appellate Tribunal Delhi Bench has set aside the reassessment proceedings initiated against Quetzal Buildtech Private Limited for Assessment Year…
Background The Income Tax Appellate Tribunal Delhi Bench has set aside a reassessment order for Assessment Year 2011–12 after holding that the mandatory statutory sanction for…
Background The Income Tax Appellate Tribunal Bangalore Bench has restored to the Assessing Officer the case of Smt. Archana Ravi Kumar for Assessment Year 2018–19, setting aside…
Dispute Over Excess Interest Paid The assessee, an individual engaged in business, had claimed deduction of interest paid on loans obtained from individuals at 7 percent, after…
Background The Income Tax Appellate Tribunal Mumbai Bench has once again cautioned tax authorities against branding genuine stock market gains as sham transactions merely on the…
Background The Income Tax Appellate Tribunal Mumbai Bench has ruled that technical delay in filing Form 10AB cannot be used to deny final registration under Sections 12AB and 80G…
Background The Income Tax Appellate Tribunal Mumbai Bench has held that profits arising from the sale of shares received on demutualisation of the Bombay Stock Exchange cannot be…
Tribunal Flags Jurisdictional Overreach In Post-Search Proceedings The Income Tax Appellate Tribunal Mumbai Bench has set aside multiple additions made against Tin Tar Retail…
Background The case concerned reassessment for Assessment Year 2015–16 against a non-resident individual who had invested in a Mumbai residential property. The tax department…
Background The Income Tax Appellate Tribunal has set aside reassessment proceedings initiated against Arun Duraiswamy for Assessment Year 2015–16, holding that the notice issued…
Background Adarsh Developers, a partnership firm engaged in real estate development, had filed its return declaring nil income. The Assessing Officer reopened the assessment…
Background The Income Tax Appellate Tribunal has set aside reassessment proceedings initiated against Arun Duraiswamy for Assessment Year 2015–16, holding that the notice issued…
Background The Delhi Bench of the Income Tax Appellate Tribunal has struck down reassessment proceedings against K&S Fincon Pvt. Ltd. for Assessment Year 2013–14, holding that the…
Background The Delhi Bench of the Income Tax Appellate Tribunal has held that the National Faceless Appeal Centre NFAC erred in mechanically setting aside an assessment without…
Background The Delhi Bench of the Income Tax Appellate Tribunal has granted substantial relief to Singla Realtors Ltd for Assessment Year 2014-15, setting aside major additions…
Background The Mumbai Bench of the Income Tax Appellate Tribunal has delivered an important ruling clarifying the application of Section 56 2 x of the Income Tax Act in cases…
Background The Delhi Bench of the Income Tax Appellate Tribunal has remanded the appeal of M/s AK Landcon Pvt. Ltd. for Assessment Year 2020–21, holding that the Commissioner…
Background The Assessing Officer had reopened the assessment under Sections 147 and 148 based on information from the DGIT Investigation , alleging that Armstrong Energy had…
The Directorate of Enforcement carried out coordinated search operations at six residential premises across Arunachal Pradesh and Assam in connection with the Trans-Arunachal…
Background The Directorate of Enforcement has filed a prosecution complaint in Kolkata under the Prevention of Money Laundering Act, 2002 against Sandip Ghosh and three other…
Remand Enquiry Confirms Genuineness of Unsecured Loans Under Section 68 The Mumbai “D” Bench of the Income Tax Appellate Tribunal dismissed the Revenue’s appeal challenging…
The Bangalore SMC Bench of the Income Tax Appellate Tribunal has condoned a 108-day delay in filing appeal and set aside the order of the National Faceless Appeal Centre which had…
The Ahmedabad “B” Bench of the Income Tax Appellate Tribunal has partly allowed the Revenue’s appeal in the case of Pancham Developers for AY 2017–18, holding that only the profit…
Capital Gains Accepted, Corresponding Cash Receipt Cannot Be Branded Unexplained The Bangalore SMC Bench of the Income Tax Appellate Tribunal, presided over by Prashant Maharishi,…
Mere Passage of Time and Search Admission Do Not Amount to Cessation of Liability The Bangalore SMC Bench of the Income Tax Appellate Tribunal has granted relief to Hassan Power…
CSR Donations Eligible Under Section 80G and Leave Encashment Provision Allowed The Mumbai “A” Bench of the Income Tax Appellate Tribunal partly allowed a batch of appeals filed…
Additions Under Section 68 Set Aside for Lack of Independent Enquiry The Mumbai “D” Bench of the Income Tax Appellate Tribunal dismissed the Revenue’s appeal against relief…
Failure to Inquire Into Derivative and Share Transactions Rendered Reassessment Erroneous The Ahmedabad “D” Bench of the Income Tax Appellate Tribunal has dismissed the appeal…
Hawala-Routed Overseas Assets Worth Over ₹44 Crore Detected in Searches The Directorate of Enforcement carried out search operations in Delhi under the Foreign Exchange Management…
Reopening Held Time-Barred Under Rajeev Bansal and TOLA Framework The Delhi Bench of the Income Tax Appellate Tribunal allowed the appeal filed by Shyam Gopal, holding that the…
Background The Mumbai “D” Bench of the Income Tax Appellate Tribunal set aside the penalty of ₹46.87 lakh imposed on Mark Engineers India Pvt. Ltd. for alleged under-reporting of…
ITAT Allows Full Section 54 Exemption Despite Minor Delay in Registration The Delhi “C” Bench of the Income Tax Appellate Tribunal held that the assessee was entitled to the…
Background The Mumbai “B” Bench of the Income Tax Appellate Tribunal condoned an extraordinary delay of 939 days in filing the appeal by Bhavik Shashikant Thakkar, noting that the…
Background The Mumbai “D” Bench of the Income Tax Appellate Tribunal has remanded the case involving Murlidhar M Pichad HUF after holding that the first appellate authority…
Background The Mumbai “G” Bench of the Income Tax Appellate Tribunal has dismissed the Revenue’s appeal in a case involving Seth Damji Laxmichand Jain Dharma Sthanak for…
Background The Mumbai “D” Bench of the Income Tax Appellate Tribunal held that penalty proceedings cannot be nullified merely because the assessment order mistakenly reflected Nil…
Background The Mumbai “B” Bench of the Income Tax Appellate Tribunal partly allowed the appeal filed by Better Value Leasing & Finance Ltd., an RBI-registered NBFC, against a…
Corporate Guarantee Adjustment Restricted to 0.5 Percent The Delhi Bench of the Income Tax Appellate Tribunal dismissed the Revenue’s appeal against Havells India Ltd., upholding…
The Directorate of Enforcement, Indore Sub-Zonal Office, has provisionally attached immovable properties valued at ₹39.91 lakh under the provisions of the Prevention of Money…
The Bangalore SMC Bench of the Income Tax Appellate Tribunal has partly allowed the appeal filed by Smt. Nafeeja Bi for Assessment Year 2017–18, condoning delays both before the…
The Income Tax Appellate Tribunal, Bangalore SMC Bench, has allowed the appeal of an NRI assessee, Shri Kandavara Abdul Basheer, for Assessment Year 2016–17 for statistical…
The Delhi “A” Bench of the Income Tax Appellate Tribunal has dismissed the appeal filed by Abhik Finance Pvt. Ltd. for Assessment Year 2016–17 after permitting its withdrawal. The…
The “C” Bench of the Income Tax Appellate Tribunal, Mumbai, has allowed the appeal filed by P Cube Construction Private Limited and deleted the penalty of ₹9.73 lakh levied under…
The “E” Bench of the Income Tax Appellate Tribunal, Mumbai, has granted significant procedural relief to Tirth Global Foundation by condoning delay and remanding its applications…
The “E” Bench of the Income Tax Appellate Tribunal, Mumbai, has dismissed the Revenue’s appeals for Assessment Years 2016–17 and 2018–19 in the case of Time Technoplast Ltd., vide…
The “H SMC ” Bench of the Income Tax Appellate Tribunal, Mumbai, has granted relief to Hira Manek Co-operative Housing Society Ltd. by condoning substantial delays of 679 days and…
Background The Mumbai Bench “B” of the Income Tax Appellate Tribunal has allowed the Revenue’s appeal in DCIT v. Mangalkalash Trading Pvt. Ltd. ITA No. 576/MUM/2019 , restoring…
Showing 50 of 242 updates