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George George K

ITAT Deletes ₹6.55 Lakh Disallowance u/s 40A(3) as Payments Were Related to Capital Assets, not Revenue Expenses [Read Order]

Sneha Sukumaran Mullakkal

The Cochin Bench of Income Tax Appellate Tribunal (ITAT) deleted a disallowance of ₹6.55 lakh under section 40A(3) of Income Tax Act,1961, holding...

Non-Consideration of Key Documents by AO and CIT(A): ITAT Restores Matter to AO for Fresh...

Income Tax Annual Digest 2024: ITAT Cases [Part 19]

Addition by AO u/s 28(iv) of Income Tax Act unwarranted as Free Test Assets are Returned or...

Disputed Set off of Rs.41L in Income Tax Assessment: ITAT Remits case for consideration of Furnished...

Invalid Assessment Order automatically Invalidates Revisional Order: ITAT [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled, in case of Nvidia, based on a key principle of taxation laws – when an assessment order is found to be legally invalid,...

ITAT Dismisses Taxpayer's Appeal as Withdrawn After Opting for Vivad Se Vishwas Scheme, 2024 [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) dismissed the appeal by allowing the choice for opting under the Direct Tax Vivad Se Vishwas Scheme, 2024, with the liberty to reinstate the...

Non Compliance with Income Tax Notices due to Administrative Issues: ITAT cancels Ex-Parte Order [Read Order]

In a recent case before Income Tax Appellate Tribunal ( ITAT ), Bangalore an appeal filed by the assessee was allowed granting a final opportunity to the appellant to represent its case before the...

ITAT Grants Partial Relief on Rs.35.13 Lakh Cash Deposit, Remands Vehicle Sale Issue to AO Due to Incomplete Documentation [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) granted partial relief on a cash deposit of Rs.35.13 lakh while remanding the vehicle sale claim to the Assessing Officer ( AO ) for...

ITAT affirms Deductibility of ESOP Expenses as Legitimate Business Expenditures u/s 37 of Income Tax Act [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) affirmed the deductibility of Employee Stock Option Plan ( ESOP ) expenses as legitimate business expenditures under Section 37 of the...

S.69A Addition cannot be made solely on Claim that Assessee not a Specified Person to Accept Demonetized Currency: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the addition under section 69A of Income Tax Act,1961 cannot be made solely on the claim that the assessee was not a specified...

Not Every Deposit during Demonetization Period would fall under Category of Unaccounted Cash: ITAT remits to AO for fresh consideration [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) remitted the case to the Assessing Officer ( AO ) for fresh consideration stating that not every deposit during the demonetization...