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Relief to Toyota Boshoku: ITAT Rules Royalty Payments to Parent Company Justified, Rejects Dept’s NIL Valuation Claim [Read Order]

Kavi Priya

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) rejected the tax department’s adjustment that benchmarked royalty payments to NIL,...

LLP Income from Mutual Funds Exempt from Tax: ITAT Orders Verification

ITAT Rejects DVO Valuations, Ensures Equal Treatment Among Co-owners [Read Order]

ITAT Sets Aside CIT(A) Order, Grants Assessee Fresh Opportunity to Present Case due to Non-Receipt...

Notice u/s 148 Beyond Three Years Not Allowed for Escaped Income Below Rs.50 Lakh: ITAT [Read Order]

Eligibility of interest income for deduction u/s 80P(2)(a)(i): ITAT remits matter to AO [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal (ITAT) remitted the matter back to the Assessing Officer (AO) to verify the eligibility of interest income for deduction under Section...

ITAT Remands Case on Section 80P(2)(d) Deduction as AO rejected Claim, Holding SCDCC Bank as Co-operative Bank, not Society [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) remanded the case back to AO to reconsider his decision of rejecting the deduction claim made by the assessee under Section 80P(2)(d)...

Cash Deposits during Demonetization as Duly Explained: ITAT Deletes Rs. 15 Lakh addition u/s 69A [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 15 lakhs made under Section 69A of the Income Tax Act as the cash deposits that were made by the assessee...

CIT(A) Disposes Matter After 4-Year Gap Without Proper Hearing: ITAT Orders Fresh Adjudication [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) remanded back for fresh adjudication to the Commissioner of Income Tax (appeals)[CIT(A)] after a delay of four years for disposing of...

Challenge on FMV Assessed Based on Occupancy Certificate: ITAT Upholds CIT(A) Order in Absence of Contrary Evidence [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s order, dismissing the Revenue's appeal challenging the fair market value (FMV)...

Capital Gains Tax Applies to Owner Proven by Registered Sale Deeds: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that capital gains tax applies to the owner as proven by registered sale deeds. Ranganath Ashok Meharwade,appellant-assessee,...

Procedure u/s 50C must follow while Sale consideration differs from Stamp Value: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that when the sale consideration in the sale deed differs from the stamp duty value, the Assessing Officer ( AO ) must follow the...