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Rajpal Yadav

Excessive Suo-Motu Disallowance u/s 14A Restricted: ITAT Grants Relief to Hero Cycles Ltd. in Income Tax Appeal [Read Order]

Advika Dwivedi

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench, considered the appeal of an assessee regarding its own disallowance under Section 14A of...

Evidence For Normal Business Activity: ITAT Upholds Surrendered ₹1.60 Cr as Business Income, Rejects...

Addition For Extrapolated Wages Restricted to Date of Survey Due to Lack of Evidence: ITAT Deletes...

80IB(10) Deduction Denial for Housing Project: ITAT Restores ₹1.73 Cr Claim to AO Relying on SC...

Advocate Suffers from Depression/Memory Loss, Fails to Defend Appeal resulting Ex-parte Order: ITAT...

Income Tax Appeal Withdrawn Due to Opting for DTVSV Scheme: ITAT Dismisses Appeal with Conditional Clause of Revival [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal filed by the assessee due to opting for resolution under the Direct Tax Vivad Se Vishwas, 2024 ( DTVSV )...

Only Exempt Income-Yielding Investments to be Considered for S.14A disallowance: ITAT directs for recalculation [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) held that disallowance under section 14A of the Income Tax Act should be made only on exempt income-yielding investments. The tribunal...

Non-Compliance with AO Notices Despite Being Indian Oil Corporation Employee Aware of Tax Obligations: ITAT Upholds Penalty [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the penalty for non-compliance with assessing officer notices stating that the assessee being an Indian Oil Corporation employee...

ITAT invalidates Addition u/s 56(2)(vii) and deletes Deemed Gift due to Incorrect Valuation Date [Read Order]

The Kolkata Bench ofIncome Tax Appellate Tribunal ( ITAT ) invalidated the addition made under Section 56(2)(vii) of the Income Tax Act,1961 and deleted the deemed gift classification due to the...

‘Beyond Scope’ of Section 153A: ITAT quashes Assessment Order [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the assessment order passed beyond the scope of Section 153A of the Income Tax Act, 1961. In this case, the deceased...

ITAT Deletes disallowance of payment made on account of Forward Contract Loss incurred towards hedging Foreign Exchange Fluctuation Loss on FCNRB Loan Account [Read Order]

The Kolkata bench of Income Tax Appellate Tribunal (ITAT) deleted the disallowance of payment made on account of the Forward Contract Loss incurred towards hedging Foreign...

CPC Lacked Authority for Preliminary Deduction u/s 80P of Income Tax Act Pre-April 2021: ITAT [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that the Centralized Processing Centre (CPC) lacked authority for preliminary deduction under Section 80P of the Income Tax...