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Application of Form 10AB Rejected As Premature And Non-Maintainable: ITAT Remands Citing Commencement of Trust Activities

Franklin Joshva

The Tribunal set aside the CIT(E)’s rejection of Form 10AB as premature due to non-commencement of activities, and remanded the matter for fresh...

Bank Employee’s Exit Option Scheme fails to Meet VRS Criteria: Kerala High Court dismisses Appeal...

FTC Claim Not Denied Despite Delay as Filing of Form 67 Held Directory, Not Mandatory: ITAT [Read...

ITAT WEEKLY ROUND-UP [ July 7th - July 12th ]

Unexplained Cash Credits Taxable Despite Rejected Books: ITAT Upholds ₹6.58 Crore Addition [Read...

Bombay HC Rules Basis for Infrastructure Fee Deduction Must Be Actual Receipts, Not Gross Advertising Bills [Read Order]

In a recent ruling, the Bombay High Court ruled that infrastructure fee deductions under the Income Tax Act must be calculated based on actual advertising receipts and not on gross advertising bills....

ITAT Dismisses Revenue's Appeal as Tax Effect Falls Below CBDT's Rs. 60 Lakh Threshold [Read Order]

The Income Tax Appellate Tribunal (ITAT) Kolkata bench has dismissed an appeal filed by the Income Tax Department against Intime Vanijya Private Limited, citing that the disputed tax amount of Rs....

ITAT Restores Co-op Society’s Appeal, Orders Fresh Hearing on Rs.1.1 Cr 80P Deduction Denial [Read Order]

The Income Tax Appellate Tribunal (ITAT) Panaji Bench has set aside an ex parte order against The Mercantile Co-op Credit Society Ltd., directing the Commissioner of Income Tax (Appeals) [CIT(A)] to...

Transport Firm Withdraws ITAT Appeal After Opting for Vivad Se Vishwas Scheme [Read Order]

The Income Tax Appellate Tribunal (ITAT) Panaji Bench has dismissed an appeal filed by Shri Laxmi Road Lines after the Belagavi-based transport company opted to settle its tax dispute under the...

No Tax on Redevelopment Flats u/s 56(2)(x) of Income Tax Act: ITAT

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) in a decision, has held that The value of a new apartment acquired during a renovation project could not be taxed as "Income from Other...

Relief to Malabar Institute of Medical Sciences: Kerala HC Rules Order U/s 263 as Open Remand Not Needing Independent Challenge [Read Order]

By overturning the Income Tax Appellate Tribunal (ITAT) decision, the Kerala High Court held that the orders made under section 263 of the Income Tax Act, 1961 can't be construed as a closed remand...

Penalty for Under-Reporting: ITAT Remands Matter Due to Pending Quantum Appeal Before CIT(A) [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has remanded the matter to the Commissioner of Income Tax (Appeals) [CIT(A)] due to the pending quantum appeal, in a case concerning the...