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

Depreciation at 60% Not Allowable on Robotix Kits: ITAT [Read Order]

Aparna. M

The Chennai Income Tax Appellate Tribunal ( ITAT ) has recently held that 60 percent depreciation would not be allowed on robotix kits. Assessee...

Interest Paid on Borrowing by Assessee carrying out Business in Investing in Shares Allowable as...

“Deemed Dividend” Not Applicable to Payment by Company on behalf of Shareholder for Purchase...

SOP Guidelines issued by CBDT Not Applicable to Unlisted Scrips: ITAT Quashes Revision Order [Read...

ITAT Member's Appointment can't be delayed on non-filing of Income Tax Return: SC [Read Judgement]

Vague Notice Invalidates Penalty Proceedings u/s 271(1)(c) of Income Tax Act: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently in an appeal filed before it, held that vague notice invalidates penalty proceedings u/s 271(1)(c) of income tax act. The...

Provisions of Deemed Gift u/s 56(2)(vii)(b) of Income Tax Act cannot be Applied Retrospectively: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) has recently held that provisions of deemed gift under section 56(2)(vii)(b) of Income Tax Act 1961 could not be applied retrospectively. ...

Vehicles form part of "Plant and Machinery": ITAT allows Depreciation on Hired Cars [Read Order]

The Mumbai bench of Income Tax Appellate Tribunal ( ITAT ) has recently while allowing depreciation on hired cars held that vehicles are forming part of plant and machinery. Assessee Transindia...

ITAT deletes Addition against ESPN Star Sports [Read Order]

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) has recently deleted the addition made by the assessing officer against ESPN star sports. Assesee ESPN Star Sports a foreign company,...

Ceremonial Expenses performed as part of Tradition shall be Allowable as Business Expenditure: ITAT [Read Order]

The Pune Bench of Income Tax Appellate Tribunal (ITAT) has held that ceremonial expenses performed as part of tradition would be allowable as business expenditure. The assessee Bhimashankar...

2% TDS u/s 194C Applicable to CAM Charges, S. 194I Not Applicable: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) recently held that the 2 % of Tax Deducted at Source ( TDS ) is applicable to Common Area Maintenance charges under section 194C and the...

Conditions of Invoking Revisional Jurisdiction u/s 263 Not Satisfied: ITAT deletes Proceedings Against Saif Partners India IV Limited [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, deleted the proceedings against Saif Partners India IV Limited, on the ground that conditions...

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