Read all Latest Updates on and about Accountant Member S.Rifaur Rahman

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'An Omnibus Notice suffers from vice of vagueness’: ITAT invalidates Ambiguous Penalty Notice u/s 271(1)(c) of Income Tax [Read Order]

Saagarika Gopinath

In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) invalidated an ambiguous penalty notice under Section 271(1)(c) of...

Dismissal of Appeal by CIT(A) even after submitting sufficient reasons: ITAT Condones Delay and...

AO made S.69 Income Tax Addition based on Mere Suspicion: ITAT deletes Rs.2.25 Crore Addition [Read...

ITAT upholds CIT(A) Deletion of Rs.6.43 Cr Addition, Rules Loan from Wholly Owned Subsidiary Not...

ITAT Rules VLCC Health Care Ltd.'s Revenue-Sharing Model Not Subject to TDS, Dismisses Revenue's...

TP Adjustment cannot be at ‘NIL’ as determined by the TPO: ITAT directs TPO to consider ALP afresh [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the Transfer Pricing Officer ( TPO ) erred in setting the Arm’s Length Price ( ALP ) for Intra Group Services at NIL for the...

Jewelry Addition u/s 69B by Assuming Equal Ownership Among Cohabitants Invalid: ITAT [Read Order]

In a recent case, the Delhi ‘A’ bench of the Income Tax Appellate Tribunal ( ITAT ) held that income tax additions made on jewelry under section 69B of the Income Tax Act, 1961 was invalid as...

ITAT allows Liquor, Buffet Dinner and Govt Taxes to DLF Resort expenses as Business Promotion Expenses u/s 37(1) [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) allowed expenses for liquor, buffet dinner, and government taxes paid to DLF Resort as business promotion expenses under Section 37(1) of...

Purchase of Agricultural Land not fall under Definition of Capital Asset: ITAT deletes Addition [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the assessee has purchased agricultural land, which is outside the definition of a capital asset; therefore, the deeming...

Treating Cash Deposit During Demonetization as unexplained cash without rejecting Books of account is Invalid: ITAT [Read Order]

In a recent case, the New Delhi of the Income Tax Appellate Tribunal ( ITAT ) held that treating the cash deposit as unexplained cash without rejecting the books of account is invalid. Pilani...

ITAT allows deduction u/s 10AA of Income Tax Act in respect of profits derived by Unit from re-export of goods imported [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) allowed deduction claimed under Section 10AA of Income Tax Act, 1961 in respect of profits derived by the Unit from re-export of goods...

Shell Information Technology’s Income Tax Refund Interest Classified as Taxable Income under India-Netherlands DTAA: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has granted relief to Shell Information Technology, specifying that interest on income tax refund would be categorized as taxable...

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