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Manish Borad

ITAT Remands S. 14A Disallowance on Mutual Fund Investments for Fresh Verification, partly allowing Kirloskar Pneumatic’s Appeal [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has restored the issue of disallowance under Section 14A of theIncome Tax Act, 1961 to the...

Taxpayer Claims Income Declared in ITR Wrong & Belonged to Another Year: ITAT Remands Matter for...

ITAT Grants Cummins India ₹210 Cr Relief, Deletes ₹12.7 Cr TP Adjustment, Upholds 10AA & 80JJAA...

Adhoc Disallowance Without Complete Verification Unsustainable: ITAT Deletes ₹22 Lakh Addition for...

AO Estimates Profit without Rejecting Books, Relies on Faulty Comparison with Sister Concern: ITAT...

STCG already Taxed: ITAT deletes Rs. 1.20 Crore Wrong addition [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal ( ITAT ) removed the incorrect addition of Rs. 1.02 crore as Short-Term Capital Gains (STCG) after determining that the income had already been...

Discrepancies in TDS deduction: ITAT Remands Matter due to Lack of Proper Hearing [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) remanded back to the Commissioner of Income Tax (Appeals) [CIT(A)] after observing that the assessee was not given an adequate opportunity...

AO Adds Gross Receipt of ₹24,89,121 u/s 144 for Commission Income Instead of Net Income: ITAT Remands Matter for Fresh Adjudication [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter concerning the addition of Rs. 24,89,121 as gross receipts of commission income under Section 144 of the Income Tax Act,...

Delay in Filing ITR due to COVID-19 Pandemic: ITAT remands matter to consider Condonation of Delay [Read Order]

In a recent ruling, the Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) directed CIT(A) to consider the case of the assessee by condoning the delay as the reason for delay has been...

Mere Suspicion cannot be a Ground for Issuance of Notice u/s 148 of the Income Tax Act: ITAT [Read Order]

In a recent case, the Kolkata Bench of The Income Tax Appellate Tribunal ( ITAT ) has held that mere suspicion cannot be a ground for issuance of notice under section 148 of the Income Tax Act,...

Subsidy received in form of VAT reimbursement from State Governments towards Industrialization shall be termed Capital Receipt: ITAT grants relief to Britannia Industries [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) while granting relief to Britannia Industries held that the subsidy received in the form of Value Added Tax (VAT) reimbursement from the...

No Weighted Average Cost of Capital method can be applied for purpose of computing ALP of Royalty income: ITAT Upholds Deletion of Adjustments in favour of Britannia Industries [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of adjustments in favor of Britannia Industries and held that the weighted average cost of capital (WACC) method...