ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Newly-Purchased-Asset-Residential-Property-Physical-Inquiry-ITAT-Capital-Gain-Exemption-Taxscan.jpeg "Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]")
Newly Purchased Asset was found as Residential Property on Physical Inquiry: ITAT allows Capital Gain Exemption [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption shall be allowed since it was found on physical...
![PE can’t be established merely because Employees of Foreign Company visited India to render some Services: ITAT grants Relief to FCC Co. Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/PE-Foreign-Company-Services-ITAT-FCC-Co.-Ltd-TAXSXCAN.jpeg "PE can’t be established merely because Employees of Foreign Company visited India to render some Services: ITAT grants Relief to FCC Co. Ltd [Read Order]")
![Capital Gain to be determined as per Share of Parties in Property, Internal Family Arrangement need not be considered: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Capital-Gain-Share-of-Parties-Property-Internal-Family-Arrangement-ITAT-Taxscan.jpg "Capital Gain to be determined as per Share of Parties in Property, Internal Family Arrangement need not be considered: ITAT [Read Order]")
![Licensing of Microsoft Softwares in India is not Taxable as ‘Royalty’ as per Indo-US Treaty: Delhi HC [Read judgment]](https://www.taxscan.in/wp-content/uploads/2022/03/Licensing-of-Microsoft-Softwares-in-India-Taxable-Royalty-Indo-US-Treaty-Delhi-High-Court-Taxscan.jpg "Licensing of Microsoft Softwares in India is not Taxable as ‘Royalty’ as per Indo-US Treaty: Delhi HC [Read judgment]")
![If Assesse failed to discharge the Onus under Section 68 of the Income Tax Act, There is No Escape from Tax Liabilities: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Assesse-failed-to-discharge-the-Onus-Section-68-Income-Tax-Act-Tax-Liabilities-ITAT.jpg "If Assesse failed to discharge the Onus under Section 68 of the Income Tax Act, There is No Escape from Tax Liabilities: ITAT [Read Order]")
Unascertained Liability cannot be allowed as Embezzlement Losses in computing Business Income: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Bangalore has held that the embezzlement loss stated by the assesse is not ascertained liability and hence cannot allow as loss in business income. The...
![Unascertained Liability cannot be allowed as Embezzlement Losses in computing Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Unascertained-Liability-Embezzlement-Losses-computing-Business-Income-ITAT.jpeg "Unascertained Liability cannot be allowed as Embezzlement Losses in computing Business Income: ITAT [Read Order]")
CIT (A) has No Power u/s 251 (1)(A) to set aside Matter before the AO; Reasonable Opportunity of hearing should be given to AO: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Chennai has held that section 251(1) (a) of the Income Tax Act, 1961 does not provide power to the CIT(A) for setting aside the matter to the file of the...
![CIT (A) has No Power u/s 251 (1)(A) to set aside Matter before the AO; Reasonable Opportunity of hearing should be given to AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/CIT-A-251-1A-AO-ITAT-Taxscan.jpeg "CIT (A) has No Power u/s 251 (1)(A) to set aside Matter before the AO; Reasonable Opportunity of hearing should be given to AO: ITAT [Read Order]")
Foreign Exchange Fluctuation Loss is an Expenditure allowable u/s 37(1) Income Tax Act: ITAT [Read Order]
The Income Tax Appellant Tribunal, Chennai has held that the loss suffered by the assessee on account of foreign exchange difference as on the date of the balance sheet is an item of expenditure...
![Foreign Exchange Fluctuation Loss is an Expenditure allowable u/s 37(1) Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Foreign-Exchange-Fluctuation-Loss-Expenditure-IT-Act-ITAT-taxscan.jpg "Foreign Exchange Fluctuation Loss is an Expenditure allowable u/s 37(1) Income Tax Act: ITAT [Read Order]")
Failure to participate in Appellate Proceedings: ITAT directs Assessee to Pay Rs. 10,000 to PM’s National Relief Fund [Read Order]
The Delhi bench of the ITAT has asked the assessee to pay an amount of Rs. 10,000 to the PM’s National Relief Fund for miserably failing in participation in the appellate proceedings. The...
![Failure to participate in Appellate Proceedings: ITAT directs Assessee to Pay Rs. 10,000 to PM’s National Relief Fund [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Appellate-Proceeding-ITAT-PMs-National-Relief-Fund-Taxscan.jpeg "Failure to participate in Appellate Proceedings: ITAT directs Assessee to Pay Rs. 10,000 to PM’s National Relief Fund [Read Order]")
Appellate Authority shall dispose Appeal on Merits even in the Absence of Assessee during Proceedings: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the appellate authority shall dispose the appeal on merits even in the absence of assessee during proceedings. The assessee, Mr....
![Appellate Authority shall dispose Appeal on Merits even in the Absence of Assessee during Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Appellate-Authority-dispose-Appeal-on-Merits-absence-of-Assessee-during-Proceedings-ITAT.jpg "Appellate Authority shall dispose Appeal on Merits even in the Absence of Assessee during Proceedings: ITAT [Read Order]")
Re-opening of Assessment cannot be done in a Mechanical Manner and on a Change of Opinion: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the re-opening of an assessment cannot be done in a mechanical manner and on the basis of change of opinion by the Assessing...
![Re-opening of Assessment cannot be done in a Mechanical Manner and on a Change of Opinion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Re-opening-cof-assessment-ITAT.jpg "Re-opening of Assessment cannot be done in a Mechanical Manner and on a Change of Opinion: ITAT [Read Order]")
![Revisional Jurisdiction cannot be invoked on Highly Debatable Issues: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Revisional-Jurisdiction-Highly-Debatable-Issues-Debatable-Issues-ITAT-Jurisdiction-Taxscan.jpg "Revisional Jurisdiction cannot be invoked on Highly Debatable Issues: ITAT [Read Order]")