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Income Tax - ITAT - Income Tax Act - Income Tax Act 1961 - Assessment Order - TAXSCAN

Fails to Provide Evidence to Discharge Onus u/s 68 of Income Tax Act: ITAT Restores Assessment Order [Read Order]

Aiswarya Krishnadas

In a recent judgement, the Pune bench of the Income Tax Appellate Tribunal ( ITAT ) restored the assessment order, stating that the taxpayer failed...

Sale of Flat Classified as Long-Term Capital Gain Based on Previous Owner's Holding Period: ITAT...

Subscription Charge Reimbursements not Amounts to 'FIS' under India-US DTAA or S.9(1)(vii) of the...

Original Allotment Date Applies to Property Acquisition: ITAT Overturned Short-Term Capital Gain...

Payment made to Foreign Firms for Services Rendered outside India cannot be Subject to TDS u/s 195:...

Section 263 Proceedings cannot Address issues Beyond Limited Scrutiny Under CASS: ITAT set aside Pr.CIT order [Read Order]

The Indore bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the Principal Commissioner of Income Tax's ( Pr. CIT ) order under section 263 of the Income Tax Act, 1961, which had annulled...

ITAT sets aside PCIT's Revision Order for Failing to provide Adequate Hearing Opportunity and ignoring Submissions of Taxpayer [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) set aside the Principal Commissioner of Income Tax’s ( PCIT ) revision order for failing to give adequate opportunity for the...

Insufficient Evidence to Prove Improvement Costs of Property: ITAT disallows Expense Claims [Read Order]

Income Tax Appellate Tribunal (ITAT), Ahmedabad “C” Bench, recently disallowed expense claims put forward by the appellant noting lack of proper evidence to support claims of cost incurred for...

Failure to Deposit Advance Tax u/s 249(4)(b) of Income Tax Act due to Loss: ITAT remands Matter back to CIT(A) [Read Order]

Recently, the Income Tax Appellate Authority ( ITAT ) of Hyderabad remanded a case back to the Commissioner of Income Tax (Appeals) [ CIT (A) ] in a matter concerning non-payment of advance tax under...

AO cannot Reject DCF Method For CCPS Valuation if it is made under Rule 11UA: ITAT deletes Addition [Read Order]

Recently, The Income Tax Appellate Tribunal (ITAT) of Ahmedabad dismissed an appeal moved by the Revenue department against a decision made in favor of the assessee in a matter regarding deletion of...

Failure to Issue Income Tax Notice u/s 143(2) Fatal and not Curable u/s 292B: ITAT [Read Order]

The Bangalore bench of Income Tax Appellate Tribunal ( ITAT ) ruled in favour of the assessee, observing that the assessment order is invalid due to AO’s failure to issue a mandatory Income tax...

ITAT directs TPO to exclude Companies with Turnover exceeding or below 10 times for Transfer Pricing Comparable Analysis [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal orders the Transfer pricing officer ( TPO ) to apply the turnover filter to exclude companies with a Turnover of more than 10 times or less...

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