Category: ITAT

Full TDS credit u/s 194Q cannot be denied merely because assessee is a commission agent and had disclosed only commission income. In a recent judgment, ITAT Chandigarh allowed full credit of TDS reflecting in Form 26AS to a commission agent as the provisions of section 194Q of the …

ITAT confirms disallowance u/s 37(1) interest on delayed payment of services tax, TDS, late fees on delay in filing of TDS returns In a recent judgment, ITAT Allahabad upheld disallowance u/s 37(1) on account of interest paid on delay in payment of services tax, interest paid on delay …

Addition deleted for deposits in assessee’s bank account, fees of students of the school the assessee was employed. In a recent judgment, Allahabad ITAT deleted the addition made to the income of the assessee towards deposits in his personal bank account, fees of the students of his employer …

Assessment made on the basis of a defective return filed by the assessee is invalid assessment – ITAT In a recent judgment, ITAT Bangalore has held that a defective return filed by the assessee is non-est and no assessment / reassessment can be made in the invalid/defective return …

Deposit in CGAS u/s 54F(4) has no application if assessee invests the sale consideration within the period stipulated in Section 54F(1) – ITAT In a recent judgment, ITAT Bangalore has held that requirement to deposit in CGAS under section 54F(4) has no application to a case where the …

Rejecting application for registration u/s 12AB without confronting society with inspector’s report was violation of the principle of natural justice – ITAT In a recent judgment, ITAT Amritsar has held that when inspector’s report was never confronted to the assessee society before rejecting the application for registration u/s …

Application of percentage completion method of accounting of real estate business was incorrect as the project was not in the nature of construction contract In a recent judgment, ITAT Ahmedabad held that following the ICAI guidance note, application of the percentage completion method of accounting for revenue recognition …

Provisions of Section 41(1) not applicable to liabilities written back which were incurred in respect of capital assets and were capitalized In a recent judgment, ITAT Guwahati has held that when expenses liabilities written off were incurred in respect of capital assets and were capitalized, the provisions of …

When amalgamation is done in larger interest of business, depreciation on goodwill generated in the course of amalgamation allowable – ITAT In a recent judgment, ITAT Rajkot has held that when the amalgamation was done in the larger interest of business, depreciation should be allowable on the goodwill …

ITAT upheld deletion of disallowance u/s 40A(3) where the nature of business remained the same and the patterns of cash withdrawals were also similar all through the years. In a recent judgment, ITAT Guwahati affirms deletion of disallowance u/s 40A(3) in respect of cash purchase where the nature …