Category: ITAT

There is no presumption of accuracy or truthfulness of any loose sheet found in search premises of a third party – ITAT In a recent judgment, ITAT has held that presumption u/s 132(4A) r.w.s. 292C is applicable only in case of searched person and cannot be raised against …

Respondent assesse, under Rule 27 not entitled to raise a ground which would work adversely to the appellant Revenue – ITAT In a recent judgment, ITAT Lucknow has held that the respondent assesse, under Rule 27 is not entitled to raise a ground which would work adversely to …

Requirement for filing Form 67 for claiming Foreign Tax Credit (FTC) is only directory and not mandatory – ITAT In a recent judgment, ITAT Allahabad has reiterated that requirement for filing Form 67 for claiming Foreign Tax Credit (FTC) is only directory and not mandatory, recourse to provisions …

Limitation for invoking revisional jurisdiction u/s 263 with respect to issues not covered in re-assessment would start from the original Assessment Order – ITAT In a recent judgment, ITAT has held that limitation for PCIT to invoke revisionary jurisdiction u/s 263 of the Income Tax Act, 1961 (the …

AO not justified in rejecting registered valuer’s report without making a reference to the DVO – ITAT In a recent judgment, ITAT has held that AO was not justified in rejecting the registered valuer’s report and taking the cost of improvement as Nil, without making a reference to …

Assessee was not liable to withhold tax at source u/s 40(a)(i) on cost-to-cost reimbursement made to parent company In a recent judgment, ITAT has held that the assessee was not liable to withhold tax at source u/s 40(a)(i) on cost-to-cost reimbursement made to parent non-resident company towards IT …

Addition deleted as assessee was only a carrier of cash and the real owner had come forward owning the cash In a recent judgment, ITAT Agra has held that there was no need for addition in the hands of the assessee who was only a carrier of cash …

Payment of imprest whether a transfer within the meaning of section 269ST – case remanded for determination In a recent judgment, ITAT has set aside the penalty u/s 271D and remanded the case for determination of whether payment of imprest constitutes a transfer within the meaning of section …

No protective addition required in the hand of a third party when additions have been confirmed in the hands of the searched person – ITAT In a recent judgment, ITAT Delhi has held that when additions have been confirmed in the hands of the searched person therefore, no …

Case remanded as no finding was given whether cash payments disallowed u/s 40A(3) were covered by Rule 6DD under Income Tax Rules, 1962.  In a recent judgment, ITAT Lucknow has remanded the case as there was no finding by the CIT(A) or the Assessing Officer whether the cash …