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ITAT Cochin

Taxpayer Unable to Sign Appeal Does Not Constitute Reasonable Cause : ITAT Refuses to Condone 1,233 Days Delay [Read Order]

Franklin Joshva

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) refused to condone the delay, and held that the unavailability of the taxpayer to sign ...

Profits from Kuri Business Held Under Trust Eligible for Exemption u/s 11 of ITA: ITAT [Read Order]

Claim for deduction u/s. 80P(2)(a)(i) of Income Tax Act cannot be disallowed solely on ground of...

Relief to Muthoot Bankers: ITAT Allows ₹5L Interest Deduction u/s 40(b) as Payment was within 12%...

Loan Not Utilised for Business Purposes: ITAT upholds PCIT's Decision Directing AO to Verify...

Delay In Filing Income Tax Appeal Due to Auditor's Death: ITAT Condones 338 Days of Educational Institution [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) condoned a 338-day delay in filing an appeal by The Centre for Management Development, citing the death of the assessee’s auditor as...

CIT(A) Sustains Additions without Considering Virtual Hearing Request: ITAT Remands Matter for fresh Adjudication [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication, citing the CIT(A)’s failure to consider...

Relief for IMA Kerala: ITAT Holds Revision u/s 263 Unjustified as AO Took Plausible View on Utilisation of Accumulated Surplus [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to Indian Medical Association (IMA), Kerala holding that revision under section 263 of Income Tax Act,1961 was unjustified as...

Disallowance of Construction Cost for Lack of Documentary Evidence: ITAT Restricts Addition to Rs. 10 Lakh and Deletes Cost of Improvement [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) restricts addition of construction cost disallowance to Rs. 10 lakh due to lack of documentary evidence and deletes the disallowance related...

Relief to Skyline Builders: ITAT Allows Deduction u/s 80IB(10), Holds Firm as Builder/Developer, Not Works Contractor [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to Skyline Builders by allowing deduction under section 80IB(10) of Income Tax Act,1961, holding that the firm acted as a...

ITAT Deletes ₹6.55 Lakh Disallowance u/s 40A(3) as Payments Were Related to Capital Assets, not Revenue Expenses [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal (ITAT) deleted a disallowance of ₹6.55 lakh under section 40A(3) of Income Tax Act,1961, holding that the cash payments were made for capital assets...

Non-Consideration of Key Documents by AO and CIT(A): ITAT Restores Matter to AO for Fresh Adjudication [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal(ITAT)restored the matter to the Assessing Officer for fresh adjudication after finding that key documents submitted by the assessee, including...