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G S Pannu

Failure to provide proper reason with respect to Escapement of Income regarding investment in House Construction: ITAT quashes Reassessment Proceedings [Read Order]

Aparna. M

The Delhi bench, Income Tax Appellate Tribunal (ITAT) while quashing the reassessment proceedings held that the Assessing officer failure to provide...

ITAT Annual Digest 2023 [Part-7]

Disallowance of loss due to Incorrect Comprehension of Section 43(6) of Income Tax Act: ITAT upholds...

Notice for Reopening Assessment in respect of issue of Capital Gain issued in name of Deceased...

Receipts from airlines relating to Segments Booked from India through Non-Resident Computer...

ITAT upholds addition made u/s 56(2)(viib) of Income Tax Act on account of excess consideration received on Allotment of Shares [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench upheld the addition made by the CIT(A) under section 56(2)(viib) of the Income Tax Act, 1961, on account of excess consideration received on...

ITAT Weekly Round Up

This Round-Up analytically summarizes the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan. from October 7 to October 14, 2023 Receipts from providing Satellite...

Failure to produce Book of accounts during Assessment Proceedings due to communication gap between Assessee's Representative and Company: ITAT directs Re adjudication [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, while directing readjudication, observed that the assessee had failed to produce the books of accounts during the assessment proceedings due to...

Consideration paid by Assessee outside India for Candidate's Report don't fall within purview of Royalty under Article 13 of India-UK DTAA: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the consideration paid by the assessee outside India for the candidate’s report does not fall within the purview of royalty under...

Application of Section 147 of Income Tax Act by AO having Tangible Material in Possession indicating Escapement of Income Chargeable to Tax is Valid: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the application of Section 147 of the Income Tax Act 1961, by an Assessing Officer (AO) having tangible material in possession...

Deduction Allowable on Warranty expenses of motor vehicles ascertained based on actual expenses incurred on settlement of warranty schemes in earlier years: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that deduction allowable on warranty expenses of motor vehicles was ascertained based on the actual expenses incurred on settlement of...

Provisions of Section 41(1) of Income Tax Act are Attracted Only if Some Trading Liability is Written back: ITAT deletes Addition [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted addition holding that the provisions of Section 41(1) of the Income Tax Act would be attracted only if some trading liability has...