ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
Builder’s Fault might cost you Additional Capital Gains Tax Liability u/s 54 IT Act: Here’s What You Need to Know
Section 54 of the Income Tax Act allows for an exemption on long-term capital gains tax for individuals and HUF (Hindu Undivided Family) if the...
![ITAT deletes Disallowance u/s 40A(3) when assessee made Payment in Cash not directly to the Seller [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Disallowance-Payment-Cash-TAXSCAN.jpg "ITAT deletes Disallowance u/s 40A(3) when assessee made Payment in Cash not directly to the Seller [Read Order]")
![Loss from Sale of Shares and Mutual Funds on which STT paid cant be set off against LTCG arising out as per S.70(3): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Sale-of-Shares-Mutual-Funds-STT-LTCG-ITAT-taxscan.jpg "Loss from Sale of Shares and Mutual Funds on which STT paid cant be set off against LTCG arising out as per S.70(3): ITAT [Read Order]")
![No Evidence to prove lack of ownership: ITAT upholds order of CIT(A) accepting LTCG [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Evidence-ITAT-CITA-LTCG-taxscan.jpg "No Evidence to prove lack of ownership: ITAT upholds order of CIT(A) accepting LTCG [Read Order]")
Portfolio Management Company cannot determine Performance Fee on Estimate Basis to pay Advance Tax: ITAT deletes Excess Interest u/s 234C [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) in a recent ruling deleted the excess interest under Section 234C of the Income Tax Act 1961 observing that the Portfolio Management Company...
![Portfolio Management Company cannot determine Performance Fee on Estimate Basis to pay Advance Tax: ITAT deletes Excess Interest u/s 234C [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Portfolio-Management-Company-Portfolio-Management-Performance-Fee-Advance-Tax-Tax-ITAT-Interest-Income-Tax-taxscan.jpg "Portfolio Management Company cannot determine Performance Fee on Estimate Basis to pay Advance Tax: ITAT deletes Excess Interest u/s 234C [Read Order]")
Assessee shall file Rectification Application to Rectify Typographical Errors in ITR, Not Appeal: ITAT [Read Order]
The Income Tax Appellate Tribunal Recently held that assessee should file a rectification application to rectify typographical errors in Income Tax Return hence the assessee could not prefer appeal...
![Assessee shall file Rectification Application to Rectify Typographical Errors in ITR, Not Appeal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Rectification-Application-to-Rectify-Typographical-Errors-ITR-ITAT-TAXSCAN.jpg "Assessee shall file Rectification Application to Rectify Typographical Errors in ITR, Not Appeal: ITAT [Read Order]")
ITAT Allows NRI to Rectify Income Tax Return after 7 Years as Tax Benefit was Not Claimed by Mistake [Read Order]
Income Tax Appellate Tribunal (ITAT) recently allowed non -resident Indian (NRI) vto rectify Income Tax Return after seven years as tax benefit was not claimed by mistake. P.R.Mohanty who had...
![ITAT Allows NRI to Rectify Income Tax Return after 7 Years as Tax Benefit was Not Claimed by Mistake [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-NRI-Income-Tax-Return-Tax-TAXSCAN.jpg "ITAT Allows NRI to Rectify Income Tax Return after 7 Years as Tax Benefit was Not Claimed by Mistake [Read Order]")
Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Chennai Bench ruled that the disallowance imposed under Section 40(a)(i) of the Income Tax Act, 1961, prohibiting Tax Deduction Source (TDS) on payments to...
![Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Disallowance-us.-40ai-Retrospective-Amendment-to-S.-195-Imposing-TDS-Payment-Non-Residents-ITAT-Taxscan.jpg "Disallowance u/s. 40(a)(i) cannot be Invoked in view of Retrospective Amendment to S. 195 Imposing TDS on Payment to Non-Residents: ITAT [Read Order]")
Rental Income is Inseparably connected with Business of Cargo Handling Services: ITAT Allows Income Tax Deduction u/s. 80IA [Read Order]
In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ), Bangalore bench has held that the rental income which is inseparably connected with the business of cargo handling services shall...
![Rental Income is Inseparably connected with Business of Cargo Handling Services: ITAT Allows Income Tax Deduction u/s. 80IA [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Rental-Income-Income-Business-of-Cargo-Handling-Services-Cargo-Handling-Services-ITAT-Income-Tax-Deduction-Income-Tax-Deduction-Tax-taxscan.jpg "Rental Income is Inseparably connected with Business of Cargo Handling Services: ITAT Allows Income Tax Deduction u/s. 80IA [Read Order]")
![Issue Not subject to Limited Scrutiny cannot be raised in Revisionary Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Scrutiny-Revisionary-Proceedings-ITAT-Limited-Scrutiny-taxscan.jpg "Issue Not subject to Limited Scrutiny cannot be raised in Revisionary Proceedings: ITAT [Read Order]")
![Sale of Unsold Flats by Builder Taxable as “Business Income”: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Sale-of-Unsold-Flats-Sale-Unsold-Flats-Builder-Taxable-Business-Income-Business-Income-ITAT-taxscan.jpg "Sale of Unsold Flats by Builder Taxable as “Business Income”: ITAT [Read Order]")