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Assessing Officer

Failure to establish Ingredients prescribed u/s 68 of Income Tax Act : ITAT upholds addition [Read Order]

The Kolkata bench Income Tax Appellate Tribunal (ITAT) while confirming the addition made by the assessing officer held that the assessee failed...

Discount on ESOP Expenses rightly Debited as Expenditure in Books of Account : ITAT deletes Addition...

ITAT directs to compute Income earned from Sale of Property u/s 45(2) of Income Tax Act [Read Order]

Section 2(22) of Income Tax Act cannot be invoked against Non-Beneficiary Shareholders in company...

No Interest on delayed realization of export proceeds from AEs: ITAT [Read Order]

AO solely relies on DDIT Report for 15 Crores Income Escapement: ITAT quashes Reassessment Order [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has invalidated a reassessment order as the Assessing Officer's sole reliance on DDIT report for the alleged 15 crore income escapement...

Magnitude of Profit is not Decisive factor about Genuineness of existence of an Investee Company: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has observed that the magnitude of profit is not decisive factor about genuineness of existence of an investee company. The assessee...

Interconnect usage charges paid to foreign Telecom Operators not Taxable in India under India-Sri Lanka DTAA: ITAT [Read Order]

In a recent ruling the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Interconnect usage charges paid to foreign Telecom Operators Not Taxable in India under India-Sri Lanka...

Relief to Sahara India: ITAT deletes Addition of Interest Income for AO’s Failure to Appreciate Facts Properly [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) granted relief to Sahara India Financial Corporation Limited by deleting the addition of interest income. This action was taken due to...

Procedure of disposal of appeal with respect to Investment in Equities not in accordance with mandate given u/s 250(6) Income Tax Act: ITAT directs Re adjudication [Read Order]

The Kolkata bench of Income Tax Appellate Tribunal ( ITAT ) while directing the readjudication observed that procedure of disposal of appeal with respect to investment in equities is not in...

Non-Grant of TDS credit: ITAT directs re adjudication [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Mumbai bench directed a readjudication with respect to the denial to grant Tax Deduction at Source ( TDS ). The Assessee, Crisil Limited, has two...

ITAT directs Re adjudication with respect to Advance received against Booking of Flats [Read Order]

The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Mumbai directed readjudication with respect to parties who advance received against booking of flats. The Assessee, Cavalcade...

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