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13-09-2015
ITAT-If assessee had not earned any exempt income during the year no disallowance u/s 14A Rule 8D was warranted
13-09-2015
ITAT-Exchange Fluctuation Loss on Business Loan Restatement not used for Acquisition of Fixed Assets Allowable Expenditure not hit by Section 43A
12-09-2015
ITAT-When Original Assessment was quashed by the ITAT any Subsequent Rectification of the Order under u/s 154 would be Illegal
11-09-2015
ITAT-Interest u/s 234C of Income Tax Act, 1961 should be Computed from the Date of Presentation of Cheque not from the Date of Clearing
10-09-2015
ITAT-Even if CIT(A) want to dispose of the appeal, ex parte, he was duty bound to dispose of the issues raised on merits
09-09-2015
ITAT-CIT(A) not correct to decide on the basis of confirming of addition in quantum appeal not independently examining levy of penalty u/s.271(1)(c)
09-09-2015
ITAT-Section 68 of the Income Tax Act 1961 not apply to Creditors Opening Balances which did not arise out of any Transaction during the Previous Year
09-09-2015
ITAT-CIT(A) can not confirm additions made in original assessment order ignoring subsequent rectification order u/s 154 whereby additions were deleted
09-09-2015
ITAT- A Mere Pendency of SLP before the Apex Court cannot be a Reason for not Following the Judgment of the Jurisdictional High Court
06-09-2015
ITAT-Since the substance of the transaction was money, deduction for donation of equipments u/s 80G can not be disallowed being in kind which is prohibited
05-09-2015
ITAT- Penalty u/s 271(1)(c) of the Income Tax Act, 1961 on account of Deemed Sale Consideration under Deeming Provisions of Section 50C is not Valid
04-09-2015
ITAT Hyderabad-Section 194B do not Apply to Horse Race. TDS U/s 194BB after Deduction of Threshold amount of Rs. 2500/- allowed
02-09-2015
ITAT-The decision of Delhi High Court in Maxopp Investments very much relevant on the issue of working disallowance u/s.14A read with Rule 8D
01-09-2015
ITAT-CIT(A) must Dispose Appeal on Merit despite CIT Revision Order u/s 263 Setting aside Assessment Order u/s 143(3) Appealed Againt
31-08-2015
ITAT-When assessee sought adjournment of the hearing, it was his duty to find out next date of hearing exactly given by the Tribunal
29-08-2015
ITAT-Penalty Notice 271(1)(c) with Only Tick Mark without Striking of Inappropriate Paragraphs/Words and Consequent Order u/s 274 Set aside as Defective
29-08-2015
Sending Printed Notice form u/s 271(1)(c) for Concealment/Inaacurate Income without striking of relevant clauses do not satisy law-Karnataka HC
29-08-2015
Karnataka HC-Mens Rea is not Essential Element but Evasion of Tax is Sine Qua Non for Imposition of Penalty u/s 271(1)(c) for Income Concealment
29-08-2015
Karnataka HC Judgment in M/s Manjunatha Cotton Ginning Factory on Penalty for Concelament, Furnishing Inaccurate Particulars of Income u/s 271(1)(c)
27-08-2015
ITAT-Appeal Dissmised by CIT(A) for Non-Payment of Tax u/s 249(4)(a), Remanded back for reconsideration in view that Tax is paid fully on later date
21-08-2015
Additions Made u/s 68, 69 for Cash Deposit in Bank Ignoring Cash Withdrawals Wrong unless Withdrawals were Used for Other Purposes-ITAT Judgments
16-08-2015
ITAT-Non Recognition of Interest Income in Mercantile Accounting Method due to Uncertainty of Collection in terms of Contract with Borrower was as approved by SC
12-08-2015
ITAT-Interest Income on Fixed Deposits Pledged as Secuirty against Cash Credit allowed under the Head Income from Business and Profession
10-08-2015
ITAT-Assessing Officer must Tax the Right Person and not merely on the basis of PAN Reported in TDS Statement Form 26AS which is Errorneous
10-08-2015
ITAT-Procedure of Accounting of Purchase Bills Only in the Year of Goods Physical Receiving is in Accordance with Mercantile/Accrual Accounting System
06-08-2015
ITAT Chennai-Fixed Deposit Interest from Banks/Financial Institutions of Club a Section 25 Charitable Company is taxable not Exempt under concept of Mutality
06-08-2015
ITAT Delhi-No Employer-Employee Relationship for TDS u/s 192 for Payments made to Experienced Consultants/Technocrats as Professional/Technical Fee u/s 194J
04-08-2015
ITAT-Deemed Dividend under Section 2(22)(e) of Income Tax Act 1961 are appliacle in the hand of registered share-holder of company only
19-07-2015
ITAT Hyderabad-No Interest on Interest u/s 244A on Income tax Refunds is Payable to Assessee in view of Supreme Court Judgment in Gujarat Fluoro Chemicals and Sandvik Asia
16-07-2015
ITAT Chennai-Raising of Demand u/s 200A for Late Fee u/s 234E Not Permissible before 01-06-2015, However AO May Pass Separate Order under Section 234E
15-07-2015
ITAT-Additions for Low Household Drawings for a Family Living in a Posh Area and Owning Luxurious Cars Justified when Valuables were Found in Search
15-07-2015
ITAT-Debatable Adjustments to Book Profits u/s 115JB by Assessing Officer Deleted Following Supreme Court Judgment in CIT vs. Reliance Petro Products
08-07-2015
ITAT-Incometax Assessment can-not be Reopened u/s 147 if Reasons recorded do not meet mandate of Section 147 and are purely on the basis of change of opinion
07-07-2015
ITAT-Failure to take Safety Measures does not prove that Abnormal CNG Gas Leakage Losses did not take Place or Sales were Made outside Books of Account
06-07-2015
ITAT-Provisions of Section 194C(6) are Independent of Section 194C(7). Disallowance U/s 40(a)(ia) does not arise for Violation of Section 194C(7)
01-07-2015
ITAT-Additions Made on the basis of Non-year Specific Offer before Settlement Commission Should be upheld for Balance Amount Only
29-06-2015
ITAT-Directions Prejudicial to Assessee u/s 144A can not be Issued on the Basis of Statement Recorded During Survey Without Opportunity of Being Heard
25-06-2015
ITAT upheld disallowance under Section 43B despite Incometax Return Filed under Presumptive Taxation Section 44AF with Non Obstante Clause
25-06-2015
ITAT-Case Remanded to AO for No Independent Findings except Documentary Evidence Collected by Excise Department and Appeal Pending in CESTAT Tribunal
25-06-2015
ITAT-Additional Evidence Admitted by CIT-Appeal and Remand Report Called from Assessing Officer justified for Inadequate Opportunity given to Assessee
24-06-2015
ITAT-Charging of Expenses to Construction WIP Account does not mean that No Business Activity was Carried On. Administrative Expenses Loss is Allowable
23-06-2015
ITAT-Only Gross Profit Addition justified not Section 69A for Undisclosed Regular Cash Deposits and Withdrawal in SB Account and admitted as Turnover
22-06-2015
ITAT Lucknow-No TDS Deduction required under Section 194H on Commission Payment to Non-Resident Foreign Agent for Procuring Orders
18-06-2015
Lucknow-Once Donation Received taken as income Applied for Charitable Purposes, Provisions of Section 68 Related to Cash Credits Cannot be Invoked
18-06-2015
ITAT Lucknow-Delay in Deposit of Self-Assessment Tax Due to Illness of Assessee Condoned and Penalty under Section 221(1)/140(3) Deleted
18-06-2015
ITAT Delhi-If the party at whose instance, Reference is made, fails to Appear at Hearing, Court not Bound to Answer the Reference. Dismisses Appeal
13-06-2015
ITAT Amritsar-Raising of Demand u/s 200A for Late Fee u/s 234E Not Permissible before 01-06-2015 for Want of Enabling Provisions amended by Finance Act 2015
19-05-2015
Delhi High Court-ITAT Can Grant Stay beyond 365 Days. Third Proviso Section 254(2A) Struck Down being Un-Constitutional and Violative of Article 14
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