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Laxmi Prasad Sahu

Habitual Default of Non-filing of Income Tax Returns despite having Taxable Income: ITAT Upholds Penalty [Read Order]

Rasheela Basheer

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the non-filing of income tax returns for a period of four years despite...

Cash deposited during Demonetization period: ITAT directs Assessment as per CBDT guidelines [Read...

No proof that Assessee has not earned any Exempt Income for relevant Assessment Year: ITAT restores...

Relief to Conduent Services: ITAT directs to apply MAP rate on Transactions [Read Order]

Demand of Late Fee u/s. 234E on TDS Default before 01/06/2015 not sustainable: ITAT [Read Order]

Capital Gain does not attract in case of permissive Possession in Immovable Property, not Taxable: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench consisting of Beena Pillai, Judicial Member, and Laxmi Prasad Sahu, Accountant Member held that Capital Gain does not attract in case of...

Deduction u/s 80IA of Income Tax Act cannot be disallowed on the failure of Form No.10CCB submission: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench has held that the Claim of deduction under section 80IA of Income Tax Act 1961 cannot be disallowed only for the omission of From NO.10CCB...

Income Tax: ITAT deletes Disallowance on Finance Charges [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad bench deleted the disallowance in respect of the finance charges. The assessee, BP Ferrium Industries Private Limited assailed the order of the...

Joint Holder in Husband’s Salary Account cannot be classified as Undisclosed Foreign Account: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Hyderabad has dismissed an appeal by the revenue department wherein it ruled that being a joint account holder in husband’s Salary Account does not classify...

Income to Owner of Land as per Development Agreement is Short-Term Capital Gain, Not Business Income: ITAT

While upholding the orders of the income tax authorities, the Income Tax Appellate Tribunal (ITAT), Hyderabad Bench upheld addition in respect of Short Term Capital Gains on account of development...

Managing Director can't be liable for Unaccounted Income of the Company: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the additions are not attributable to the Managing Director for undisclosed and unaccounted income of the Company. The assessee,...

No Addition to be made merely on the basis of Dumb documents: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench ruled that no Addition can be made merely on the basis of Dumb documents. The assessee has challenged the correctness of the lower...

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