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ITAT Hyderabad

ITAT Quashes Assessment Orders on Grounds of Invalid Special Audit Reference: Allows Appeals of Legal Heirs [Read Order]

Eeva Mary Sanil

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench, has quashed assessment orders passed against late Laxman Rao Banapuram for the assessment...

SATYAM SCAM: ITAT Orders Fresh Assessment for Tech Mahindra based on Telangana HC Verdict [Read...

Interest on Fixed Deposits Not Business Income: ITAT upholds 10AA Deduction Denial for SEZ unit...

Transfer Pricing adjustment unwarranted u/s 92BA If Deduction Not claimed u/s 80IA: ITAT Deletes...

Taxpayer Not Property Owner, Only POA Holder: ITAT Remands Rs. 4.73 Crore LTCG Addition Matter [Read...

AO Adds Rs. 5.38 Lakh as Unexplained Cash Deposit: ITAT Confirms Rs. 48,000 Addition as Taxpayer Fails to Prove Source [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) confirmed Rs. 48,000 as assessee failed to prove source of deposits in the case where the Assessing Officer (AO) had made an addition...

Disallowance of Depreciation on Goodwill: ITAT Upholds Claim as Intangible Asset Eligible u/s 32 [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal(ITAT) upheld the depreciation claim on goodwill, affirming it as an intangible asset eligible under Section 32 of Income Tax Act,1961. The...

Disallowance of Interest on Loan for Share Acquisition: ITAT Upholds Deduction as Business Expense [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal(ITAT) upheld the deduction of interest on a loan taken for share acquisition, recognizing it as a business expense. The Revenue-appellant...

Employees’ PF & ESI Contribution Disallowed if Paid After Due Date: ITAT [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal(ITAT)ruled that employees’ Provident Fund(PF) and Employees State Insurance(ESI) contributions are not deductible if paid after the due date...

Lack of awareness of Income Tax assessment proceedings u/s 148: ITAT remands matter with penalty [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the matter directing the Commissioner of Income Tax (Appeals) [CIT(A)] to reconsider additional evidence for additions made...

AO adds Rs. 3.56 crore as Non disclosed transactions: ITAT restores matter for reconsideration to CIT(A) with penalty

The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) has restored the appeal to the Commissioner of Income Tax (Appeals) [CIT(A)] in an undisclosed transactions case with a penalty of...

ITAT Upholds CIT(A)’s Deletion of S.14A Disallowance Due to No Exempt Income [Read Order]

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) upheld Commissioner of Income Tax (Appeals) [CIT(A)]’s deletion of disallowance under Section 14A of Income Tax Act, 1961, ruling that the...