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Kul Bharat

Assessing Authority exceeds Jurisdiction for making Assessment in respect of Acquisition of the Property: ITAT Deletes Addition [Read Order]

Aparna. M

The Jodhpur bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the Assessing officer exceeded jurisdiction for making...

Income of Fine, Lab Fee, Founder Day Charges, Photograph Charges are Incidental to Running of...

Brokerage not part of Income unless Received: ITAT deletes Income Tax Addition [Read Order]

No One should be Condemned Unheard: ITAT directs Re-Adjudication of Appeal filed without Impugned...

Deduction of Foreign Exchange Loss suffered is duly allowable as Loss incurred during year: ITAT...

Failure to Pay Court Fees despite ample opportunities: ITAT dismisses Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench dismissed appeal filed by the assessee as there was failure to pay Court Fees despite ample opportunities. The Assessing Officer (AO) had...

Grant to operate Project under Government is License, eligible for Depreciation of Intangible Asset: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the grant to operate a project under the government is a license and is eligible for depreciation of the intangible asset. The...

Loan obtained in non-gratuitous nature will not fall U/s 2(22)(e): ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that a loan obtained of non-gratuitous nature will not fall under section 2(22)(e) of the Income Tax Act,1961. The assessee,...

Nature of Land Sold is to be Ascertained based on Sale Deed Executed: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the nature of land sold is to be ascertained based on the sale deed executed. The appellant, Phool Singh is an agriculturist....

Evidence for Verification of Cash Deposit would invalidate Reopening of Assessment u/s 147: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Amritsar bench has held that reopening of assessment u/s 147 of Income Tax Act 1961 would invalidate in the presence of evidence for verification of cash...

AO fails to Point out on which Bills and Vouchers disallowance is made: ITAT deletes Estimated Addition [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal has held that Assessing Officer fails to point out on which bills and vouchers disallowance is made and deletes estimated addition. The appellant,...

No Deliberate Attempt on part of Assessee to take Advantage of Delay in filing Appeal: ITAT condones Delay [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that since there is no deliberate attempt on the part of the assessee to take advantage of delay in filing the appeal, the delay can be...

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