Category: ITAT

ITAT quashed reassessment on the basis of borrowed belief of Anti-Corruption Bureau without applying mind In a recent judgment, ITAT Ahmedabad has quashed reopening order as the Assessing Officer had reopened the case on the basis of borrowed belief of Anti-Corruption Bureau without applying his mind to the …

In considering disallowance u/s 40A(2) for payments to specified persons, genuineness of expenditure is not a relevant issue. In a recent judgment, ITAT Lucknow has held that when a disallowance u/s 40A(2) of towards payments made to specified persons is under consideration, the genuineness of the expenditure is …

Expression “Yes I am satisfied” in approval u/s 151 not such a vital defect on the basis of which, re-opening could be quashed In a recent judgment, ITAT Chandigarh has held that expression “Yes I am satisfied” while granted approval under section 151 not such a vital defect …

Order u/s 127 quashed as PCIT having jurisdiction over non corporate assesee could not have transferred case of a corporate assessee to another AO In a recent judgment ITAT has quashed assessment as PCIT having jurisdiction over non corporate assesee could not have assumes jurisdiction to transfer a …

No obligation to deduct tax at source u/s 195 on the commission paid to non-resident foreign commission agent not liable to pay tax in India – ITAT In a recent case, ITAT Agra has held that there was no obligation for the assessee to deduct tax at source …

Section 43CB read with ICDS-III is applicable to contractors and not real estate developers – ITAT In a recent judgment, ITAT Chennai has held that provisions of Section 43CB read with ICDS-III were applicable to contractors and not real estate developers and therefore the assessee being a developer …

Expenses incurred on ESOP are allowable as revenue expenditure u/s 37(1) of Income Tax Act – ITAT Delhi In a recent judgment, ITAT Delhi has held that expenses of ESOP is considered as allowable u/s 37(1) of the Act and mere admission of SLP before Supreme Court would …

Compliance history of supplier could not be used to invalidate the genuine business transactions of the buyer especially when the same was supported by documentary evidences – ITAT In a recent judgment, ITAT Chandigarh has held that compliance history of the supplier could not be used to invalidate …

Reassessment quashed as AO issued u/s 148 instead of 153C as reopening was based on incriminating material found during search In a recent judgment, ITAT Pune has quashed the reassessment order as Assessing Officer (AO) should have issued notice u/s 153C instead of notice u/s 148 since the …

Provisions of section 69C not applicable for addition made on account of disallowance of expenditure on employee salary and Wages – ITAT In a recent judgment, ITAT Varanasi has held that provisions of section 69C not applicable for addition made on account of disallowance of expenditure on employee …