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Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.

Revisional Jurisdiction can be invoked for 'Lack of Inquiry', not for 'Inadequate Inquiry': ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the revisional jurisdiction under section 263 of the Income Tax Act, 1961 can be...

Capital Gain Exemption u/s 54F not available for Purchase of 'Office Premises': ITAT [Read Order]

Payment for Transponder Services does not amount to 'Royalty': ITAT [Read Order]

Assessee couldn’t Realize the Effect of Assessment Order: ITAT condones Delay of 41 Months, says...

Lenskart not liable to pay TDS on Payment to Facebook Ireland: ITAT [Read Order]

Interest received on Enhanced Compensation does not come under ‘Income from Other Sources’ u/s 56 and does not Attracts TDS u/s 194A: ITAT [Read Order]

The New Delhi bench of Income Tax Appellate Tribunal( ITAT ) has held that interest received on enhanced compensation not comes under ‘income from other sources’ u/s 56 and not attracts Tax Deduction...

Non-Cooperation during Remand Proceedings: ITAT imposes Rs. 1000 Cost on Assessee, Directs Fresh Consideration of Matter [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has imposed a cost of Rs. 1000 on a taxpayer for not cooperating with the assessing officer during remand proceedings and directed the...

Mere Amalgamation would not invalidate Income Tax Proceedings as It would not amount to Winding Up of Company, rules Supreme Court [Read Judgment]

The Supreme Court, on Tuesday, held that whether corporate death of amalgamating entity upon amalgamation per se invalidates an assessment order issued under the Income Tax Act, 1961 cannot be...

Royalty Expenditure for Use of Technical Know-How can be treated as Revenue Expenditure: ITAT [Read Order]

The ITAT, Delhi bench has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure for the purpose of the Income Tax Act, 1961. Before the Tribunal, the...

Depreciation not allowable on Non-Compete Fee: ITAT [Read Order]

The ITAT, Delhi bench has held that the depreciation under section 32 of the Income Tax Act, 1961 is not allowable on non-compete fee. The assessee, a resident-companyits return of income on...

Black Money Act Provisions cannot be invoked for Minor Breach of Law: ITAT [Read Order]

In a major relief to philanthropist and pharma company Chairperson Leena Gandhi-Tiwari, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the provisions of the Black Money...

Amount spent on Consumable Items cannot be claimed as Cost of Improvement while computing Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal, Mumbai Bench has held that the amount spent on consumable items including sofa, tiles, etc., cannot be claimed as cost of improvement while calculating the amount...

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