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ITAT Mumbai, SIDBI, ITAT, Computation of Deduction

Computation of Deduction u/s 36(1)(viia)(c) Independent of Deduction u/s 36(1)(viii): ITAT Rejects Double Deduction Argument for SIDBI [Read Order]

Franklin Joshva

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeals, confirming that the deduction claimed under Section...

Delhi HC dismisses Revenue's appeal over Mechanical Search Assessment Approvals made under Income...

NPCI is Charitable Entity for Advancing General Public Utility: ITAT Rejects Income Tax Revision by...

ITAT dismisses Appeal as Withdrawn after Assessee opts for Settlement of Dispute under DTVSV Scheme...

ITAT quashes Non-Speaking Ex-Parte Appellate Order, directs de novo Income Tax Assessment [Read...

Appeal Does Not Automatically Stay Tax Recovery: Madras HC Affirms CBDT’s 20% Deposit Requirement Before Granting Recovery Stay in Income Tax Proceedings [Read Order]

The bench of the Madurai Bench of the Madras High Court held that the filing of an appeal against an assessment order does not, by itself, operate as a stay on tax recovery proceedings. The Court...

AO fails to Specify Sub-Clause u/s 270A(9): ITAT deletes Penalty for Under-Reporting [Read Order]

The Dehradun Bench of Income Tax Appellate Tribunal ( ITAT ) deleted penalty for under-reporting of Income, holding that the Assessing Officer (AO) failed to specify the relevant sub-clause of...

Applicability of 5% Tolerance u/s 56(2)(x): ITAT Rules Amendment Curative, Applies Retrospectively [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal, holding that the 5% tolerance under Section 56(2)(x) of Income Tax Act,1961,was a curative amendment and applied ...

Auto Parts Maker’s Dies and Maintenance Expenses are Revenue in Nature: ITAT dismisses Revenue’s Appeal [Read Order]

The bench of the Income Tax Appellate Tribunal, Delhi, upheld the Commissioner ofIncome Tax (Appeals)’s [CIT(A)] decision that such expenses, incurred for model development and productivity...

Denial of S.80G Approval Due to Excess ‘Pooja Expenses’: ITAT Remands Matter to CIT(E) for Fresh Consideration [Read Order]

The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the matter to the Commissioner of Income Tax (Exemption)[CIT(E)] for fresh consideration after the denial of Section 80G of Income...

Unexplained Cash Deposit Addition u/s 69A: ITAT Restores Matter to File additional Evidence, Including Bank Statements [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) restored the issue of unexplained money addition made under Section 69A back to the file of the Assessing Officer (AO) to allow the ...

Failure to verify New vs. Renewed Deposits on unsecured loans: ITAT Remits ₹2.62 Cr Issue for Fresh verification [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) remitted the matter to the Assessing Officer (AO) for a fresh adjudication of the addition made on account of unsecured loans accepted by...