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Inturi Rama Rao

ITAT Allows Joy Alukkas’s Income Tax Deduction of ₹1.39 Cr Interest on Loans for Renovation of Leasehold Premises u/s 36(1)(iii) [Read Order]

Advika Dwivedi

The Income Tax Appellate Tribunal (ITAT), Cochin, allowed the deduction of ₹1,39,04,056 made under Section 36(1)(iii) of the Income Tax Act on...

Disclosure of Additional Income in S. 153C Proceedings Does Not Automatically Prove Guilty of...

Not Business Income, But Still Deductible; ITAT Sides with Kerala Co-op Bank, Quashes Tax Demand...

ITAT Rebukes CIT(A) for "Lazy" Dismissal, Orders Fresh Hearing on Demonetization Cash Deposits [rEad...

ITAT rejects Cable Operator's Plea, Upholds ₹5.2 Lakh Income Addition from Seized Records [Read...

Profits from Kuri Business Held Under Trust Eligible for Exemption u/s 11 of ITA: ITAT [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) held that profits earned from the Kuri business run by a registered charitable trust were eligible for exemption under Section 11 of the ...

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

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 that the cash payments were made for capital assets...

Trust Charging Fees Alone Does Not Attract Proviso to S. 2(15): ITAT Remands S. 11 Exemption Denial Matter for Fresh Consideration [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal (ITAT) remanded Section 11 matter for fresh adjudication holding that trust charging fees alone does not attract provision to Section 2(15) of the...

ITAT sets aside Addition of Rs. 45.74 Lakh Cash Deposit during Demonetisation, Remands matter for fresh Examination [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT), set aside an addition of Rs. 45.74 lakh made by the assessing officer (AO) on cash deposits in specified bank notes (SBN) during the...

Income Tax Annual Digest 2024: ITAT Cases [Part 14]

This annual round-up analytically summarizes all the Income Tax related Orders of the Income Tax Appellate Tribunal (ITAT) Benches of India reported at Taxscan.in during 2024. Hearing Notices Sent...

ITAT directs to Examine allowability of claim for Deduction of Service Tax made during Assessment Proceedings [Read Order]

The Pune bench of Income Tax Appellate Tribunal ( ITAT ) directed to examine the allowability of the claim for the deduction of service tax made during the assessment proceedings. The assessee,...

Interest Expenditure incurred on Capital allowable as Deduction u/s 24 of Income Tax Act, not part of Cost Acquisition: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Interest expenditure incurred on capital allowable as deduction under Section 24 of Income Tax Act 1961 and not part of cost...