ITAT Hyderabad
Explore the latest ITAT Hyderabad judgments, orders, and appellate decisions on direct tax matters from the Hyderabad bench of the Income Tax Appellate Tribunal
![An Unscheduled Bank has to Recognize its Income on NPAs on Accrual Basis: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/12/Unscheduled-Bank-Taxscan.jpg "An Unscheduled Bank has to Recognize its Income on NPAs on Accrual Basis: ITAT [Read Order]")
An Unscheduled Bank has to Recognize its Income on NPAs on Accrual Basis: ITAT [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal, while confirming the orders of the lower authorities, observed that since the assessee is...
![TDS is Payable on Payment of Non-Competent Fee when Assessee treated the same as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/09/TDS-Taxscan.jpg "TDS is Payable on Payment of Non-Competent Fee when Assessee treated the same as Business Expenditure: ITAT [Read Order]")
![Interest Income from Depositing Share Capital in FDs with Bank under constraint is Capital Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Sale-of-Shares-Tax-Scan.jpg "Interest Income from Depositing Share Capital in FDs with Bank under constraint is Capital Receipt: ITAT [Read Order]")
![Purchase and Sale of Shares through Stock Exchange can’t be treated as ‘Bogus’ when the Same was Evident through Broker’s Note: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Stock-Exchange-Taxscan.jpg "Purchase and Sale of Shares through Stock Exchange can’t be treated as ‘Bogus’ when the Same was Evident through Broker’s Note: ITAT [Read Order]")
Rent received during Eviction of Tenants on a Property Purchased for Setting Up of Project is not Taxable: ITAT [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has held that rent received during eviction of tenants on a property purchased for setting up of project is not taxable as ”income from house...
![Rent received during Eviction of Tenants on a Property Purchased for Setting Up of Project is not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Rental-Income-Taxscan.jpg "Rent received during Eviction of Tenants on a Property Purchased for Setting Up of Project is not Taxable: ITAT [Read Order]")
Assessee is entitled to Exemption u/s 54 even if he holds more than one Residential Property: ITAT [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has held that an assessee is entitled to claim exemption under section 54F of the Income Tax Act even if he holds more than one residential...
![Assessee is entitled to Exemption u/s 54 even if he holds more than one Residential Property: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/05/Deduction-Residential-Property.jpg "Assessee is entitled to Exemption u/s 54 even if he holds more than one Residential Property: ITAT [Read Order]")
Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]
Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has recently held that section 50C of the Income Tax Act, 1961 cannot be invoked in case of a distress sale where the assessee transferred land...
![Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "Sec 50C cannot be invoked in case of a distress Sale where Land was transferred to a Govt Company: ITAT [Read Order]")
Re-Assessment Only on the direction from Superiors is Invalid when AO was satisfied that Original Assessment was Proper: ITAT [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal held that if the AO was satisfied with the original assessment then the re-assessment order under section 147/ 148 of the Income Tax Act passed only on...
No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]
Hyderabad bench of Income Tax Appellate Tribunal held that penalty under section 271B of the Income Tax Act is not leviable where the assessee was under a bonafide belief that books need not be...
![No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Ahmedabad.jpg "No Penalty If there is a Bonafide belief that Books need not be Subjected to Audit: ITAT Hyderabad [Read Order]")
Activity of Letting Out of Marriage Hall by Trust would not constitute ‘Commercial Activity’: ITAT Allows Exemption [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT), while allowing tax exemption under section 11 of the Income Tax Act to Kalinga Cultural Trust, held that the activity of letting out of...
![Activity of Letting Out of Marriage Hall by Trust would not constitute ‘Commercial Activity’: ITAT Allows Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Letting-Out-of-Marriage-Hall-Taxscan.jpg "Activity of Letting Out of Marriage Hall by Trust would not constitute ‘Commercial Activity’: ITAT Allows Exemption [Read Order]")
A Time-barred Notice cannot be deemed as valid u/s 292BB since it is a Jurisdictional Error: ITAT [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has held that a notice issued after the period of limitation cannot be deemed to be valid by invoking section 292BB of the Income Tax Act,...