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Waseem Ahmad

ITAT Rules Against Unjustified Tax Adjustments, Reinforces Due Process [Read Order]

Adwaid M S

The Income Tax Appellate Tribunal (ITAT) Bangalore Bench has ruled against the automatic tax adjustments made under Section 143(1) of the Income Tax...

ITAT Weekly Round Up

Taxpayer engaged in Development Work with Statutory Bodies eligible for Deduction under Section...

Indexed Cost of Improvement Incurred Wholly and Exclusively for Transfer of Asset Allowable as...

Delay in Filing Appeal due to Medical Treatment: ITAT Condones Delay of 259 Days [Read Order]

Depreciation Allowable only on Fixed Assets not used for Commercial Purpose: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that depreciation is allowable only on fixed assets not used for commercial purpose. The assessee cannot be considered to cover...

ITAT directs to delete Addition made by AO on ground of Wrongful Assessment of Tax Liability [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer to delete the addition made on the ground of wrongful assessment of tax liability. Babusinh P....

Brought Forward Losses can be Adjusted Against Belatedly filed ITR u/s 139(3): ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that brought forward losses can be adjusted against the income declared belatedly income tax return under section 139(3) of the...

No Addition u/s 69A on ground of Denial of S. 80G Deduction: ITAT [Read Order]

The bench of Waseem Ahmed (Accountant Member) and Sidhhartha Nautiyal (Judicial Member) of Rajkot Income Tax Appellate Tribunal (ITAT) ruled that no addition shall be made under section 69A of Income...

Joint Commissioner sanctioned Re-open Notice u/s 148 after expiry of 4 yrs: ITAT quashes Assessment Order being Violative Sec 151 [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad Bench has held that Joint Commissioner sanctioned reopening notice under section 148 after the expiry of 4 years and quashes the assessment order...

PCIT cannot impose his own Understanding of extent of inquiry u/s 263: ITAT quashes Revisionary Order [Read Order]

The Income Tax Appellate Tribunal (ITAT), Rajkot Bench quashed the revisionary order and held that the Principal Commissioner of Income Tax (PCIT) cannot impose his own understanding of the extent of...

Interest on Maturity of Govt Bonds cannot be Taxed in the Year of Accrual solely because TDS Deduction by Bank: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri Waseem Ahmed, Accountant Member and Shri Siddhartha Nautiyal, Judicial Member has held that the interest income...