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M.Balaganesh

Penalty Invalid If Specific Charge u/s 270A is Not Mentioned in Income Tax SCN: ITAT Deletes Penalties for Four Assessment Years [Read Order]

Akhaigha T Josh

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted penalties levied on an assessee under Section 270A of the Income Tax Act,...

Survey Team Mistakenly Multiplies Bundle Weights instead of Accurate Weighing Leading to Quantity...

Taxpayer entitles to Deduction for CENVAT Credit Written Off out of Assets acquired from GAPAIL...

ITAT allows Depreciation claims on Aircraft put to use for a period less than 180 days [Read Order]

Interest on Enhanced Compensation is Taxable as Income from Other Sources: ITAT [Read Order]

Relief to Cricket Club of India: ITAT quashes Revision u/s 263 and upholds claim of Mutuality [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has quashed revision under section 263 and upholds the claim of Mutuality by the Cricket Club of India. The appellant, M/s. Cricket...

Cost of Improvement and due Indexation benefit on House Property is Deductible while computing Capital Gain: ITAT [Read Order]

The Income Tax Appellate Tribunal(ITAT), Mumbai bench has held that cost of improvement and due indexation benefit on house property is deductible while computing capital gain. The appellant,...

Disallowance u/s.40A (3) cannot be made in intimation u/s.143(1) of the Income Tax Act: ITAT [Read Order]

Disallowance under Section 40A (3) of the Income Tax Act cannot be made in intimation under Section 143(1) of the Income Tax Act, so was held by the Income Tax Appellate Tribunal (ITAT), Mumbai. ...

Revisional Jurisdiction can be invoked for 'Lack of Inquiry', not for 'Inadequate Inquiry': ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the revisional jurisdiction under section 263 of the Income Tax Act, 1961 can be invoked only for “lack of inquiry” and not for...

PCIT not justified in invoking Revisionary Jurisdiction merely on basis of different opinion: ITAT grants Relief to Grasim Industries

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench while granting the Relief to Grasim Industries ruled that the PCIT not justified in invoking revisionary jurisdiction merely on the basis of...

ITAT directs Charitable Trust to submit Requisite Documents to CIT to seek Registration u/s 12A [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench directed the charitable trust to submit requisite documents to CIT(Exemption) to seek registration under section 12A of the Income Tax Act. ...

ITAT quashes Reopening of Assessment against Red Hat India [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench quashed reopening of assessment against Red Hat India. The assessee company, Red Hat India is engaged in the business of marketing,...