Category: ITAT

TCS Payable not hit by section 43B as it can not be debited in Profit and Loss account and claimed as deduction – ITAT In a recent judgment, the ITAT Amritsar has held that TCS Payable is not hit by the provisions of section 43B of the Income …

Sale of scrap not generated from a manufacturing/mechanical process not liable to TCS u/s 206C of the Act although to be liable seller need not be a manufacturer itself – ITAT In a recent judgment, the ITAT Cochin has held that a seller is liable to deduct TDS …

Why would a CA dissuade an assessee from filing appeal / pursuing legal remedy granted to him under the statute – ITAT refused to condone the delay in filing appeal. In a recent judgment, the ITAT Surat has refused to condone the delay in filing appeal on the …

Penalty u/s 270A for bogus claim of deduction under Chapter VIA upheld by ITAT In a recent judgment, the ITAT Pune has upheld the Penalty u/s 270A and 271(1)(c) for bogus claim of deduction under Chapter VIA ABCAUS Case Law Citation:ABCAUS 4075 (2024) (06) ITAT In the instant …

Merely because word “provision” is used it cannot be said that the same is a provision – ITAT In a recent judgment, the ITAT Cuttack has held that merely because word “provision” is used while making the entry in the books of accounts, it cannot be said that …

Affidavits, if credible and corroborated by other evidences, can be sufficient to explain the source of cash deposits -ITAT In a recent judgment, the Hon’ble Ahmedabad ITAT has held that affidavits, if credible and corroborated by other evidences, can be sufficient to explain the source of cash deposits. …

Merely on basis of unsigned document it cannot be assumed that amount/price paid is as stated in said document – ITAT In a recent judgment, the ITAT Hyderabad has held that merely on the basis of an unsigned document it cannot be assumed that price paid is as …

Assessee following POCM liable to deduct TDS instead of making provisions In a recent judgment, the ITAT Delhi has held that once the assessee claims that while following percentage of completion method at 100% of the revenue of the project has been recognized, it was incumbent to also …

Denial of provisional registration u/s 12A for a typographical error set aside  In a recent judgment, the ITAT Delhi has set aside order of CIT(Exemption) denying provisional registration u/s 12A for a typographical error in Form 10AB. ABCAUS Case Law Citation:ABCAUS 4068 (2024) (06) ITAT In the instant …

Exemption u/s 54 cannot denied if construction of flat not completed by builder within three years – ITAT In a recent judgment, the ITAT Mumbai has held that the house buyer who intends to take the benefit of section 54 of the Act, cannot be blamed if the …