The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the ex-gratia payment received by the employee on voluntary retirement cannot be taxed as “Profit in lieu of Salary” under section 17(3)(iii)
In a major relief to the InterGlobe Aviation, the Delhi Bench of Income Tax Appellate Tribunal (ITAT) deleted disallowance on Lease Rental Payments to the tune of Rs. 366.32 Crores. The assessee, InterGlobe Aviation is
The Ahmedabad Income Tax Appellate Tribunal ( ITAT ) has recently held that deduction on sale commission is not allowable if genuine expenditure cannot be ascertained. Assessee Mangalya Ceramics filed a return of income for
The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently provided partial relief to Cairn Energy Hydrocarbon Ltd. Ajay Vohra, Ravi Sharma, Subhangi Arora, advocates appeared for the assessee,and Gangadhar Panda, commissioner of Income Tax
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, while considering the appeals filed before it, quashed Section 153C assessments, based on invalid notices. The same was done by the Delhi ITAT, while taking
The Income Tax Appellate Tribunal (ITAT)“B” Bench, Mumbai, has, recently, in an appeal filed before it by the assessee, held that service charges accrued but not received, cannot be treated as the assessee’s income. The
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held penalty under Section 270A cannot be levied on estimated disallowance. The aforesaid observation was made by the Pune
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench affirmed the CIT(A) assessment of the profit on main contract at 8% and income from sub-contracts at 5%. The assessee, Dasaradha Rami Reddy Somavarapu is an individual,
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, held that consideration from sale of jointly owned property cannot be treated as long term capital gain of a
The Pune Income Tax Appellate Tribunal ( ITAT ) has recently allowed depreciation on goodwill under section 32(1) (ii) of the Income Tax Act 1961. Section 32(1) (ii) of the Income Tax Act 1961 states
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in appeals filed before it, refused to condone a delay of 1005 days in filling the income tax appeal without reasonable cause. The aforesaid observation
The Income Tax Appellate Tribunal (ITAT), Visakhapatnam Bench, has recently, in an appeal filed before it, directed the granting of foreign tax credit, on the ground that the return of income and statement in Form-67
A Division Bench of the Income Tax Appellate Tribunal (ITAT), Mumbai Bench observed that Interest income not to be assessed when assessee is non-resident. It came to the notice of the Government that both the
The Income Tax Appellate Tribunal (ITAT), Indore Bench while allowing as many as 13 appeals held that revisional jurisdiction under Section 263 of the Income Tax Act, 1961 cannot be invoked if assessment orders are
In a major relief to Pharma Firm, M/s Evolutis India Private Ltd, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench ruled that the Income Tax Deduction is allowable on expenses incurred in oversea workshops for
