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S.S. Viswanethra Ravi

Only Unutilized Capital Gains Amount u/s 54F Taxable, Not Entire Capital Gains: ITAT [Read Order]

Franklin Joshva

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) directed that only the unutilized amount of the Capital Gains Deposit Scheme, and not...

Interest on Partner's Capital Not Restricted to Business Start Date: ITAT Deletes ₹1.83 Lakh...

No Restriction of Payment of Remuneration to Partners u/s 40(b): ITAT Deletes ₹4.45 Lakh...

Disallowance of ₹2.26 Lakh Bonus as Dividend Due to Audit Report Error: ITAT Deletes Addition Based...

Minor Daughter’s Share Deposited as per Court’s Order cannot be Clubbed with Father’s Income : ITAT...

Co-op Society wins ₹10.14L Tax Relief: ITAT rules FDR Interest Eligible for 80P Deduction [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has granted substantial tax relief to a cooperative credit society, holding that interest earned on fixed deposits (FDRs) with cooperative...

ITAT Remands Rs. 2.31 Crore Addition Matter to Conduct Appropriate Enquiry for Cash Deposit and S. 40(a) Disallowance Matter [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has remanded a case involving additions of Rs. 2.31 crore back to the Assessing Officer (AO) for fresh adjudication, citing the need for...

Assessee opts for Vivad-se-Vishwas Scheme 2024: ITAT dismisses appeal as Infructuous [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) dismissed an appeal filed by the as infructuous after the assessee opted to settle the tax dispute under the Vivad-se-Vishwas Scheme...

Disallowance Claim on Loans written Off to Titan International: ITAT remands matter for Consideration of additional Evidence brought by Assessee [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the matter to the AO for a fresh examination concerning the write-off of loans amounting to Rs. 29.52 crore advanced by the...

Exemption u/s 10(38) of Income Tax Act shall be denied when Assessee enters into Sham Transaction with Paper Companies: ITAT upholds Order of CIT(A) [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the exemption under Section 10(38) of the Income Tax Act, 1961 shall be denied when the assessee enters into a sham transaction...

Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the interest paid on delayed payments of Tax Deducted at Source (TDS) under Section 201(1A) of the Income Tax Act, 1961 is not...

ITAT quashes Revision Order passed u/s 263 of Income Tax Act during Covid -19 Pandemic [Read Order]

The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently quashed the revision order passed under Section 263 of Income Tax Act 1961 during covid-19 pandemic. The assessee Subhash...