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Income Tax Annual Digest 2024: ITAT Cases [Part 2]

Manu Sharma

This annual round-up analytically summarizes all the Income Tax related Orders of the Income Tax Appellate Tribunal ( ITAT ) Benches of India...

ITAT allows Deduction Claim u/s 80IB (10) of Income Tax Act in respect of Flats which Area Exceeds...

Project Completion Method is Right Method Prescribed by ICAI for determining Profit, Eligible for...

CIT(A) fails to provide Evidence of Notice Served: ITAT deletes Penalty u/s 271 (1) (b) of Income...

ITAT - SEBI - violations found by SEBI - tax payers - SEBI and brokers - TAXSCAN

No Violation found by SEBI on Broker or Taxpayer w.r.t alleged CCM Transactions: ITAT directs AO to...

No Corroborative Evidence to Prove that Taxpayer made any Payment of Rs. 5 crore: ITAT deletes Addition [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) has deleted the addition of 5 crore, citing the absence of corroborative evidence to prove that the taxpayer had indeed made any payment of Rs. 5 crores. ...

ITAT upholds 10% Tax on Fee for Technical Services under Article 12(4) India-Singapore DTAA as Service Provider Transfers all Documents to Service Receiver [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the lower authorities have rightly treated the amounts received by the assessee from RCITP as fees for technical services under...

No Concealment of Income or Furnishing of Inaccurate Particulars: ITAT upholds Deletion of Penalty u/s 271(1)(c) [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no penalty could be imposed under section 271(1)(c) as no concealment of income or furnishing of inaccurate particulars was done...

Next Gen Films isn’t the PE of a UK based non-resident Corporate entity, No demand of Interest can be made for delay in payment of TDS/TCS: ITAT

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the Assessee, Next Gen Films Pvt. Ltd. is not the Permanent Establishment (PE) of a UK based non-resident corporate entity and so no...

ITAT orders to grant Interest on Refund under Section 244 of the Income Tax Act, 1961 to Tata Steel [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai ordered the AO to grant interest under Section 244 of the Income Tax Act, 1961 to the Tata Steel Limited. In this case, the AO had finally adjusted...

‘ IMD Bonds ’ can be treated as Securities and Therefore it does not fall within the Meaning of Any Some of Money: ITAT [Read Order]

A division bench of Mumbai ITAT including Judicial Member C.N. Prasad and Accountant Member Rajesh Kumar, recently held that ‘ IMD Bonds ’ can be treated as Securities and therefore it does not fall...

ITAT deletes Penalty since Notice u/s 274 was issued without Application of Mind [Read Order]

The Income Tax Appellate Tribunal, Mumbai bench, recently deleted the penalty imposed under Section 271(1) (c) of the Income Tax Act by finding that the Notice under section 274 was issued due to non-...