ITAT

  • Income Tax

There is a difference in “facts not proved” and “facts disproved” and penalty u/s 271(1)(c) can be levied only for the latter

In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that  there is a difference…

8 years ago
  • Income Tax

Set off of business loss from unexplained cash credits u/s 68 not permissible in view of combined reading of sections 71 , 72 and 32(2).

In a latest judgment, ITAT Chennai has upheld that allowing set off of business loss from the unexplained cash credits…

8 years ago
  • Income Tax

Additional depreciation us 32(1)(iia)-There is no provision for postponement or carry forward to next financial year

In a recent judgment, ITAT Chennai has held that the assessee is not entitled to additional depreciation u/s.32(1)(iia) of the…

8 years ago
  • Income Tax

Merely because an income has been taxed in recipient’s hand it does not become deductible expenditure but as per Law

In a recent judgment, ITAT Mumbai has opined that merely because an income has been taxed in the hands of…

8 years ago
  • Income Tax

ITAT condoned 7 days delay in filing appeal before CIT(A)-Cause of substantial justice deserves to be preferred over technical considerations

"When substantial justice and technical considerations are pitted against each other, the cause of substantial justice deserves to be preferred"…

8 years ago
  • Income Tax

Granting exemption not claimed in return of income-Reservation of Supreme Court in Goetze India Ltd case is applicable to AO not to appellate authority

In a recent judgment, ITAT Jaipur while allowing assessee's claim of exemption u/s 11 held that the Supreme Court decision in Goetze…

8 years ago
  • Income Tax

To establish the fact that the assessee cultivated the land the Adangal extract is a must

To establish the fact that the assessee cultivated the land the Adangal extract is a must In a recent judgment,…

8 years ago
  • Income Tax

Credit of self assessment tax paid can not be denied for charging interest under section 234A

In a recent order, ITAT Ahmedabad has held that the credit of self assessment tax paid which has the same effect…

8 years ago
  • Income Tax

sale of property distributed on dissolution of partnership firm amounts to capital gain not business income

ITAT, Ahmedabad has held that sale of shops by the assessee which were distributed on dissolution of partnership firm amounts to capital…

8 years ago
  • Income Tax

construction cost amortization of infrastructure facility under BOT project is allowable expenditure

In a recent judgment, ITAT Mumbai has held that as per CBDT circular no. 09 of 2014, construction cost on development…

8 years ago