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CSR Donations Eligibility for Section 80G Deduction: ITAT Quashes PCIT Revision Order in Hapag Lloyd Matter [Read Order]

Sneha Sukumaran Mullakkal

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) quashed the Principal Commissioner of Income Tax ( PCIT )’s revision order in Hapag Lloyd...

Depreciation on Goodwill from HC Approved Amalgamation not a Representation of Land Value: ITAT...

Net Taxable Interest Higher Than Expense Bars Disallowance u/s. 14A: ITAT [Read Order]

ITAT Allows Abu Dhabi Commercial Bank to Set Off PE Losses Against ECB Interest Income, Upholds 5%...

Income Classified as Business Income, not Taxable in India for Non-Resident Assessee: ITAT upholds...

ITAT allows Foreign Tax Credit despite Delayed Filing of Form No. 67, Rules Income Tax Rule 128(9) Directory, not Mandatory [Read Order]

The New Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) allowed foreign tax credit despite the delay in filing Form No. 67 and ruled that Rule 128(9) under Income Tax Rule, 1962 is a directory...

Jewelry Addition u/s 69B by Assuming Equal Ownership Among Cohabitants Invalid: ITAT [Read Order]

In a recent case, the Delhi ‘A’ bench of the Income Tax Appellate Tribunal ( ITAT ) held that income tax additions made on jewelry under section 69B of the Income Tax Act, 1961 was invalid as...

Routine Support Services not FTS under India-UK DTAA: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribual ( ITAT ) recently in a case held that routine support services are not to be classified under “Fee for Technical Services” ( FTS ) under the...

Revisionary Jurisdiction under Income Tax Act cannot be invoked on allegation of Improper Inquiry by AO: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that revisionary jurisdiction under the Income Tax Act, 1961 cannot be invoked on allegation of improper inquiry by Assessing...

Taxpayer fails to Construct Residential House within Prescribed Time: ITAT disallows Section 54 Deduction under Income Tax Act [Read Order]

In a recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) disallowed the claim of deduction under Section 54 of the Income Tax Act,1961, because the taxpayer failed construct...

Approval Granted u/s 153 D clearly indicates Approving Authority neither Examined Assessment Records nor Seized Materials: ITAT quashes Assessment Order [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the assessment order, stating that the approval granted under Section 153D clearly indicates the approving authority neither...

JCIT issues Penalty Order under Income Tax Act beyond Limitation, Deemed Invalid: ITAT deletes Penalty [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty, noting that the Joint Commissioner of Income Tax ( JCIT ) ought to have passed the order on or before 31.03.2015,...