Category: ITAT

Writing “Yes, I am Satisfied” establishes non recording of proper satisfaction/approval before issue of notice u/s 148 No sooner than a week after, holding that merely writing “yes” or “approved” and affixing signature by CIT) was not the required satisfaction (ITA No. 5311/Del/2013 dated 07/04/2016), ITAT delhi Bench …

In a recent judgment, ITAT Delhi has held that Knowledge Process Outsourcing Services (KPO Services) provider could not be be considered as a comparable for benchmarking international transactions entered into by an entity rendering business process outsourcing (BPO) services including collections/call centre services and other back office support services for …

In a recent judgment, ITAT held that  the word ‘erroneous’ in section 263 includes the failure to make an inquiry when circumstances would make such an enquiry prudent. Also order passed without applying the principles of natural justice or without application of mind are fall in the same category.  …

In a recent judgment, ITAT Chennai has upheld that Addition u/s 69 for discrepancies in stocks was business income and has to be considered for computing partners remuneration under Section 40(b) Case Law Details: ITA No.393/Mds/2013 Assessment Year : 2009-10 Income Tax Officer vs. M/s Roshan Date of Order/Judgment: 07/04/2016 Brief …

In a recent judgment, Ahmedabad ITAT quashed disallowance for excessive directors remuneration stating that section 40A(2)(b) disallowance is not to be invoked when the payees already stand assessed at maximum rate. Case law Details: ITA 857/Ahd/2012 Assessment year 2008-09  ACIT vs. M/s. Patel Alloy Steel Pvt. Ltd Date of Judgment/Order: 08/04/2016 Brief facts …

In a latest judgment, ITAT Chandigarh has held that notice u/s 148 of the Income Tax Act, 1961 served upon by affixture at a wrong address and consequent re-assessment made under section 147/148 cannot be held to be valid. Case Details: I T A No s . 335 & 336/ CHD/2015 Assessment …

In a latest judgment, ITAT Delhi has held that post office is not an agent of the assessee. Notice u/s 143(2) dispatched to post office on the last date of limitation period  can not be deemed to be the date of service of notice to the assessee. Case Law Details: …

In a recent judgment, ITAT Delhi following Pepsi Foods (P) Ltd case  has granted stay beyond 365 days in a re-fixed appeal for clarification, holding that the  delay was not attributable to the assessee. Case Law Details: S.A.-211/Del/2016 (In ITA No.-1681/Del/2015) AY: 2010-11 D.E.Shaw India Advisory Services Pvt.Ltd vs. DCIT …

Merely writing yes/approved and affixing signature by CIT is not proper satisfaction for a fit case for re-opening u/s 147 and issue of notice u/s 148 Merely writing “yes” or “approved” and affixing signature by the Commissioner of Income Tax (CIT) was not the required/proper satisfied for a fit case …

In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that  there is a difference in “facts not proved” and “facts disproved” and penalty can be levied only for the latter. Case Law Details: ITA No.1730/Mds./2015 Assessment Year :2010-11 Mr.R.A.Palanisamy vs. Income Tax Officer Date of …