Search Results ITAT
Receipts from Unknown Sources Taxable as ‘Other Income’: ITAT upholds Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore, has ruled that unexplained deposit into bank account are taxable as “other income” under section 68 of the Income Tax Act, 1961. The assessee, Karan Sharma had filed
Penalty can’t be levied when there is No Concealment in Income Tax Return: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while deleting the penalty under section 271(1)( c) of the Income Tax Act, ruled that the penalty can not be levied when there is no concealment in
Another Woman-friendly Judgment from Tax Tribunal: ITAT grants Exemption Amount invested in the purchase of residential housing in widowed Daughter’s name
The Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that amount invested in purchase of residential house in daughter’s name is eligible for exemption under section 54F of the Income Tax Act, 1961. The assessee,
Interest Payments to Associate members by Credit Co-operative Society eligible for Exemption u/s 194A(3)(v): ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that, that Credit Co-operative Societies are not liable to deduct tax at source from the interest payments made to Associate Members as per sec.194A(3)(v) of the
CBIC provides Facilitation for Exporters having IGST Refund issues
The Central Board of Indirect Taxes and Customs (CBIC) has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICEGATE due to GSTR-1 and
Lease Holders Expenses are not liable to be Capitalized: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT) Mumbai, has ruled that lease-holder’s expenses are not liable to be considered as capital expenditure for the purpose of taxation. The assessee, Shree Nirmal Commercial Ltd. was the owner
Interest Expenses claimed by Partners relating to their Professional Activities are allowed Expenses: ITAT deletes Addition [Read Order]
While deleting the addition, the Income Tax Appellate Tribunal (ITAT) Rajkot Bench has ruled that, Interest Expenses claimed by partners relating to their professional activities are allowed expenses. The assessees, Anilbhai Chunilal Bhayani and Ashwinbhai
Relief to Sony Pictures Networks: ITAT grants extension of stay of demand for a further period of 180 days [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench in relief to Sony Pictures Networks, granted the extension of stay of demand for a further period of 180 days. The appellant, Sony Pictures Networks seeks to
Relief to Sushila Birla Memorial Institute: ITAT allows exemption u/s 10(23C)(iiiae) of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench in a relief to Sushila Birla Memorial Institute allowed exemption under section 10(23C)(iiiae) of Income Tax Act. The assessee, Sushila Birla Memorial Institute (SBMI) is a Trust,
Assessee in principle entitled to Claim Deduction of Gratuity paid before Appellate Authorities: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench ruled that assessee in principle is entitled to claim a deduction of gratuity paid before the appellate authorities. The assessee, M/s. FNF India Private Ltd raised the
ITAT confirms disallowance on account of Interest on Office Loan [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench upheld the order passed by CIT(A) wherein the disallowance of Rs.4,02,837 on account of interest on office loan was confirmed. The assessee United Teleservices Ltd. appealed against
ITAT directs AO to decide the issue of Disallowance of Commission Expenses based on Documentary Evidence [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench directed the AO to decide the issue of disallowance of commission expenses based on documentary evidence. The assessee, Kunwar Tuli was engaged in the business of electrical
Nazareth Hospital Society case: ITAT finds Educational Donation ultra vires to Trust objective, rules non-eligibility for exemption u/s 11(1)(a) [Read Order]
The Income Tax Appellate Tribunal (ITAT) Allahabad has ruled that donations by a charitable trust to educational activities will not be eligible for exemptions under section 11(1)(a) of the Income Tax Act 1961 if such
ITAT deletes addition of sum paid to Tata Sons Ltd towards Subscription Paid for Brand Equity and Business Promotion Agreement [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench deleted the addition of sum paid to Tata Sons Limited towards subscription paid for Brand Equity and Business Promotion Agreement. During the course of assessment proceedings, the
Reopening of Assessment on account of ‘Change of Opinion’ isn’t valid: ITAT quashes orders passed by Tax Authorities [Read Order]
The Income Tax Appellate Tribunal (ITAT) while quashing the orders passed by tax authorities ruled that the reopening of assessment on account of “change of opinion” is not valid. The assessee, M/s. Rajarathnam’s Jewels has

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