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Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.

Agricultural Land is at 2.75 Km from Municipal Limit as per Google Map: ITAT quashes Capital Gain Addition [Read Order]

Navasree A.M

The Raipur Bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed a long-term capital gains addition after holding that the land sold by...

ITAT Orders Re-evaluation of S. 14A Disallowances and Foreign Tax Credits for Bank of India,...

Lack of Familiarity With Income Tax E-Filing Portal: ITAT Condones 66 Days Delay, Restores Trust...

ITAT Condones 63 Day-Delayed Appeal due to Hospitalization, Remands ₹67L Income Tax Deduction Claim...

Statutory Duty of Commissioner to Consider Documents Filed in Paper Book : ITAT Notes Commissioner...

Reassessment Beyond 4 Years Without New Material Invalid: ITAT Quashes ₹3.40 Cr S. 80IB(10) Disallowance [Read Order]

The Income Tax Appellate Tribunal, Mumbai Bench quashed income tax reassessment proceedings against Komal Enterprises holding that a reassessment after the lapse of four years of completion of...

ITAT upholds Taxability of Capital Gains on Sale of Flipkart Shares by Ex-Flipkart COO, Denies DTAA Relief Under India-Singapore Tax Treaty [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) dealt with the issue of taxability of capital gains arising from the sale of shares of Flipkart Private Limited held by Binny Bansal in...

Entire Income Tax Assessment Must Conclude within 30 Months where TPO Reference Exists: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has held that in cases where the Transfer Pricing Officer (TPO) reference exists, the entire income tax assessment as per Sections 144 and 153...

AO Fails to Properly Enquire Year-End Provisions, TDS on Dealer Discounts: ITAT upholds Revision Order in Bajaj Auto Matter [Read Order]

In a recent ruling IncomeTax Appellate Tribunal (ITAT) upheld a revision order under Section 263 of theIncome Tax Act, 1961, in the case of Bajaj Auto Ltd., holding that the Assessing Officer had...

LTCG to be Computed from Taxpayer’s First Year as Property Holder: ITAT Notes Error in Indexation Year [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) has, in a recent case, noted that while computing long term capital gain, the indexation must be calculated using the cost of inflation index for the year...

Advertising & Sales Promotion Spend to Dealers Not ‘Fringe Benefit’: ITAT deletes ₹1.08 Cr FBT Addition [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT) has held that expenditure incurred on advertising, publicity and sales promotion towards dealers, distributors and other third parties...

Interest Expenditure allowable u/s 57(iii) against Interest Income if Direct Nexus Proved: ITAT Deletes ₹1.06 Cr Disallowance [Read Order]

If there is a direct nexus between the borrowing and lending activity, interest expenditure is allowable as a deduction under Section 57(iii) of theIncome-tax Act, 1961, ruled the Mumbai Bench of the...