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R K Panda

ITAT affirms 8% Profit Rate Estimation for Government Contractor [Read Order]

Franklin Joshva

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the decision of the Commissioner of Income Tax (Appeals) [CIT(A)] in estimating...

ITAT quashes Penalty u/s 271B, Holds 'Reasonable Cause' for Delay in Tax Audit [Read Order]

Sale Consideration not Received by Assessee: ITAT upholds Deletion of Additions [Read Order]

Profit Embedded amount Purchase would be Subjected to Tax: ITAT directs AO to restrict Addition of...

ITAT directs readjudication on accounts addition made under Excess Receipts from Contract Works...

Deduction on Physical Fitness Expense not Allowable in Absence of Evidence to Prove the Expenses were for Professional Purposes: ITAT upholds Disallowance [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal( ITAT ) has held that deduction on physical fitness expenses is not allowable in the absence of evidence to prove the expenses were for...

Disallowance u/s 14A of Income Tax Act only covers Expense Regarding Exempt Income: ITAT [Read Order]

The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under section 14A of the Income Tax Act, 1961 only covers expenses regarding exempt income. Mr D....

Non-Issuance of notice u/s 143(2) of Income Tax Act is not Curable Defect: ITAT quashes Assessment Order [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT), quashed assessment order and observed that non-issuance of notice under Section 143(2) of the Income Tax Act, 1961 is not a curable...

Deletion of Addition u/s 68 against Bharat Auto based on Vague, Unsubstantiate and Cryptic Findings: ITAT Directs Re-adjudication [Read Notification]

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has directed re-adjudication as the deletion of addition under Section 68 of the Income Tax Act 1961 Bharat Auto was based on vague,...

Software Income can’t be treated as Royalty as per Indo-Singapore DTAA: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has ruled that the software income cannot be deemed as royalty as per the provisions of the Double Taxation Avoidance Agreement (DTAA) between...