The Income Tax Appellate Tribunal (ITAT), Mumbai held that the payment made by Volkswagen (Indian Company) to a Foreign Celebrity for appearance outside India is taxable. In the case of Volkswagen Finance Pvt Ltd. vs....
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the provisions of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961 would not attract in case of reimbursement...
The Income Tax Appellate Tribunal (ITAT), Pune bench, while dismissing a bunch of miscellaneous applications, held that the Income Tax Act, 1961 does not have any provisions allowing delay condonation of such applications under section...
The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the Assessing Officer cannot invoke the provisions of Section 68 of the Income Tax Act, 1961 in case of share premium amount if such...
The Income Tax Appellate Tribunal (ITAT), Indore bench has recently deleted an addition of around rupees 7.35 crores against one of the accused person of Vyapam case. The amount was surrendered by the assessee during...
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has recently ruled that the Commissioner of Income Tax (Appeals) cannot delete an assessment order without granting an opportunity to the Assessing Officer to re-consider...
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the Automated Teller Machines ( ATM ) would be eligible for the higher rate of depreciation as these machines can be treated...
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the expenses incurred on the demise, birthday greetings and congratulating some politicians are not eligible for a tax deduction as business expenditure...
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), in an assessee-friendly ruling, held that if there exist two methods for tax payment, the assessee can opt the method which would result in the...
The Securities Appellate Tribunal (SAT) has decided to hear only urgent cases and has restricted entry in the court room to only lawyers, chartered accountants and one representative of the litigants due to the recent...
While dismissing the appeal, the Bombay High Court has observed that Income from Sale of Agricultural land will attract Income Tax as the assessee was dealing in the sale of properties. The Appellant Afonzo Real...
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the penalty under section 271B of the Income Tax Act, 1961 is not leviable if there are bona fide reasons on the part of...
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no obligation can be imposed on the assessee to pay advance tax if he alleges that his income is not taxable...
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) recently held that the department cannot make addition merely on the basis of the statement made by the Director of the Company during the search...
While deleting a revisional order, the Cochin bench of the Income Tax Appellate Tribunal (ITAT) has held that there is no prohibition under the Income Tax Act, 1961 to set off the loss against the...
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that the sole proprietor cannot be eligible for a tax deduction for his own education expenses as the same cannot be treated as...
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the reimbursement of the amount of property tax by the licensee to the landlord under the contract would be eligible for deduction...
While dismissing a departmental appeal, the Income Tax Appellate Tribunal (ITAT), Jaipur has held that the intelligence wing of the income tax department, being a part of the department, cannot be considered as an external...
The Income Tax Appellate Tribunal (ITAT), Chennai bench has recently held that in pursuance of a joint development business, the landowner cannot be subject to income tax for the difference amount contained in form 26AS...
In a major relief to Tianjin Tianshi India Pvt. Ltd, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be levied if the transfer...
In a Relief to General Motors Overseas Corporation, the Income Tax Appellate Tribunal (ITAT) reaffirmed that no interest is leviable on the assessees under Section 234B of the Income Tax Act, even on the filing...
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