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Delay in Filing of Form 67 not ground to Deny Relief u/s 90 of Income Tax: ITAT [Read Order]

Franklin Joshva

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) held that filing of form 67 is not mandatory in 128 (9) of Income Tax Rules,1962, and...

No Incriminating Material Found against Oswal Fab Knits: ITAT deletes Additions [Read Order]

Inapplicability of 12A(1)(ba) Amendment for 2017-18 AY: ITAT grants Temple Trust Exemptions u/s...

ITAT Dismisses Revenue's Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT...

Reassessment of Alleged Bogus LTCG/STCG Based on AO's Assumptions u/s 143(3) of Income Tax: ITAT...

Section 14A Disallowance: ITAT Directs Restricting Disallowance to Rs. 12 Lakh, Following Previous Year's Ruling [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) set aside the matter for the Assessment Year (AY) 2016-17, directing the disallowance under section 14A of the Income Tax Act, 1961 to be...

Karta of Hindu Undivided Family Wins Partial Relief at ITAT: Tribunal Sets Aside Addition for Re-calculation [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) while partly allowing the appeal held that a Hindu Undivided Family (HUF) is entitled to capital gain exemption under Section 54F of...

Petitioners Entitled to Prior Notice Before Adverse Conclusion on Capital Gains Account: Madras HC quashes Assessment Order [Read Order]

In a recent ruling, the Madras High Court quashed the assessment order and held that petitioners were entitled to prior notice before the department arrived at an adverse conclusion on the capital...

Madras HC orders Fresh Assessment Over Insufficient details on employee’s Cash Transactions [Read Order]

In a recent ruling, the Madras High Court ruled in favour of the assessee and ordered fresh assessment due to insufficient details in the assessment order on employee’s cash transactions. ...

Natural Justice Violated by unfair Deadline: ITAT Remands ₹1.3 Cr Addition case u/s 69C to AO [Read Order]

The Surat bench of the Income Tax Appellate Tribunal ( ITAT ) in the case of supersonic impex held that a deadline of three days for submission of all relevant records of the assessee’s accounts was...

Unexplained Cash Credit During Demonetization Period: ITAT upholds CIT(A) Deletion [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal(ITAT) upheld the CIT(A)'s decision to delete the addition of unexplained cash credit during the demonetization period, rejecting the Revenue's...

Delay in filing Form 10B by Charitable Trust for Sec.11 Exemptions: ITAT directs CIT(A) Adjudication on Potential Condonation by CIT(E) [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Bangalore recently issued directions to the Commissioner of Income Taxes ( Appeals ) ( CIT(A) ) to conduct renewed consideration of an Appeal on the basis...

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