Category: ITAT

Time limit for issue of notice u/s 143(2) is from the date of filing of original return of income – ITAT In a recent judgment, ITAT Delhi has held that time limit for issue of notice u/s 143(2) has to be considered for date of filing of original …

Two flats on two different floors not a single dwelling unit – ITAT rejects exemption u/s 54 In a recent judgment, ITAT Delhi has rejected the claim of capital gain exemption u/s 54 holding that two flats on two different floors can not be considered as a single …

Non deposit of tax deducted by deductor – ITAT directs AO to take action against deductor and tax credit allowed to assessee In a recent judgment, ITAT Cochin has given an important judgment on the issue of non credit of TDS due to mismatch with Form 26AS where …

Addition on account of unexplained investment in construction of hotel building and undisclosed income from Lawn Garden bookings – ITAT dismissed appeal of the Income Tax Department In a recent judgment, ITAT Jaipur has upheld the deletion of additions of account of unexplained investment in construction of hotel …

Claim for exemption u/s 10(10B) though not claimed in return, can be raised during proceedings before CIT(A) or the Tribunal. In a recent judgment, the ITAT Chandigarh has held that claim for exemption u/s 10(10B) for compensation received on forced retrenchmen, though not claimed in return, being a …

No addition can be made merely for time gap between withdrawals and redeposits into bank – ITAT In a recent judgment, Hon’ble ITAT Kolkata deleted addition for cash deposit in bank due to time gap between the withdrawals and redeposits into same bank without any findings of fact …

Due to national holiday, deposit of PF on next working date is in due compliance with the provisions of section 36(1)(va) of the Income Tax Act, 1961 – ITAT  In a recent judgment, ITAT Chandigarh has held that the due date being the national holiday, the deposit of …

Deduction u/s 80JJAA allowed for delayed filing of Form 10DA as Form 3CD showing the quantum of deduction was filed prior to one month from filing of return of income.  In a recent judgment, ITAT Bengaluru has allowed deduction u/s 80JJAA as Form 3CD showing the quantum of …

Third party statement taken after recording reasons cannot form basis of Assessing Officer’s “reasons to believe” to reopen the assessment – ITAT  In a recent judgment, ITAT Delhi has held that third party statement recorded subsequent to the reasons recorded, cannot form basis of Assessing Officer’s “reasons to …

Compensation received by the assessee from the builder for cancelling the allotment of flat for delay not chargeable to tax being in the nature of capital receipt.  In a recent judgment, ITAT Delhi has held that compensation received by the assessee from the builder for cancelling the allotment …