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Income Tax Appellate Tribunal Case Commentaries

ITA Reverses Section 68 Addition on Proven Genuine Share Capital Transactions

ITA Reverses Section 68 Addition on Proven Genuine Share Capital Transactions

Date: Oct 22, 2022
ITA Reverses Section 68 Addition on Proven Genuine Share Capital Transactions Introduction The case of M/s Lalbaba Seamless Tubes Pvt. Limited vs. DCIT, Circle - 3(1), Kolkata adjudicated by the...
ITA Mumbai Requires Detailed Validation for Transfer Pricing Adjustments in Intra-Group Services and Royalty Payments

ITA Mumbai Requires Detailed Validation for Transfer Pricing Adjustments in Intra-Group Services and Royalty Payments

Date: Oct 21, 2022
ITA Mumbai Requires Detailed Validation for Transfer Pricing Adjustments in Intra-Group Services and Royalty Payments Introduction The case of Ingredion India Pvt. Ltd. v. Income Tax Officer (ITA No....
Tribunal Recognizes Eligibility of Interest Income from Co-operative Banks under Section 80P(2)(d) for Co-operative Credit Societies

Tribunal Recognizes Eligibility of Interest Income from Co-operative Banks under Section 80P(2)(d) for Co-operative Credit Societies

Date: Oct 20, 2022
Tribunal Recognizes Eligibility of Interest Income from Co-operative Banks under Section 80P(2)(d) for Co-operative Credit Societies Introduction The case of M/s. Bhavasar Kshatriya Co-Operative...
Burden of Proof under Section 68 Reinforced: ITAT Holds Share Premium Explained Legitimately Dissolves Additions

Burden of Proof under Section 68 Reinforced: ITAT Holds Share Premium Explained Legitimately Dissolves Additions

Date: Oct 20, 2022
Burden of Proof under Section 68 Reinforced: ITAT Holds Share Premium Explained Legitimately Dissolves Additions Introduction The case of ITO, Ward-7(1), Kolkata v. M/s Anvil Electricals Pvt. Limited...
Clarifying Valuation Standards under Section 56(2)(viib): Insights from S.A. Metro Plots Pvt. Ltd. vs ITO

Clarifying Valuation Standards under Section 56(2)(viib): Insights from S.A. Metro Plots Pvt. Ltd. vs ITO

Date: Oct 20, 2022
Clarifying Valuation Standards under Section 56(2)(viib): Insights from S.A. Metro Plots Pvt. Ltd. vs ITO Introduction The case of S.A. Metro Plots Pvt. Ltd. v. Income Tax Officer (ITO), Corporate...
ITA Surat Bench Upholds Blanket Exemption on Cash Deposits During Demonetization

ITA Surat Bench Upholds Blanket Exemption on Cash Deposits During Demonetization

Date: Oct 19, 2022
ITA Surat Bench Upholds Blanket Exemption on Cash Deposits During Demonetization Introduction The Income Tax Appellate Tribunal (ITAT), Surat Bench adjudicated the appeal filed by Jitesh Vithalbhai...
ITA Raipur Establishes Precedent on Quantifying Additions for Bogus Purchases Based on Gross Profit Rate Matching

ITA Raipur Establishes Precedent on Quantifying Additions for Bogus Purchases Based on Gross Profit Rate Matching

Date: Oct 18, 2022
ITA Raipur Establishes Precedent on Quantifying Additions for Bogus Purchases Based on Gross Profit Rate Matching Introduction The case of M/s Balaji Rice Industries, Raipur v. Income Tax Officer,...
Invalid Assessment Due to Jurisdictional Error under CBDT Instructions

Invalid Assessment Due to Jurisdictional Error under CBDT Instructions

Date: Oct 18, 2022
Invalid Assessment Due to Jurisdictional Error under CBDT Instructions Introduction The case of Shri Shri Sudhir Kumar Agrawal, Durg, Durg(CG) v. The Income Tax Officer, Ward-2(2), Bhilai, Bhilai(CG)...
ITA Upholds Disallowance of LTCG Exemptions under Section 10(38) for Penny Stock Transactions

ITA Upholds Disallowance of LTCG Exemptions under Section 10(38) for Penny Stock Transactions

Date: Oct 18, 2022
ITA Upholds Disallowance of LTCG Exemptions under Section 10(38) for Penny Stock Transactions Introduction The Income Tax Appellate Tribunal (ITA), Kolkata Bench, in its consolidated judgment dated...
CIT v. M/S Stock Mandi: Validating Loss Claims and Clarifying Partner Capital Additions

CIT v. M/S Stock Mandi: Validating Loss Claims and Clarifying Partner Capital Additions

Date: Oct 18, 2022
CIT v. M/S Stock Mandi: Validating Loss Claims and Clarifying Partner Capital Additions Introduction The case of THE INCOME TAX OFFICER -3(4), RAIPUR (CG) v. M/S Stock Mandi, Raipur (CG) adjudicated...
ITAT Raipur Reaffirms Reliability of Assessee's Yield Rates and Strict Criteria for Section 14A Disallowance

ITAT Raipur Reaffirms Reliability of Assessee's Yield Rates and Strict Criteria for Section 14A Disallowance

Date: Oct 18, 2022
ITAT Raipur Reaffirms Reliability of Assessee's Yield Rates and Strict Criteria for Section 14A Disallowance Introduction The case of Assistant Commissioner Of Income Tax (Central)-2, Raipur v....
Clarifying Cash Deposits During Demonetization: Umamaheswari v. ITO Establishes Key Precedent

Clarifying Cash Deposits During Demonetization: Umamaheswari v. ITO Establishes Key Precedent

Date: Oct 15, 2022
Clarifying Cash Deposits During Demonetization: Umamaheswari v. ITO Establishes Key Precedent Introduction The judgment in Umamaheswari, Coimbatore v. ITO, Coimbatore, delivered by the Income Tax...
Exemption of Land Acquisition Compensation under RFCTLARR Act 2013: Insights from DCIT 27(1) Mumbai v. M/S. Ganga Developers

Exemption of Land Acquisition Compensation under RFCTLARR Act 2013: Insights from DCIT 27(1) Mumbai v. M/S. Ganga Developers

Date: Oct 13, 2022
Exemption of Land Acquisition Compensation under RFCTLARR Act 2013: Insights from DCIT 27(1) Mumbai v. M/S. Ganga Developers Introduction The case of DCIT 27(1) Mumbai v. M/S. Ganga Developers is a...
Clarification on Section 54 Exemption: Investment Deadlines under the Capital Gains Account Scheme

Clarification on Section 54 Exemption: Investment Deadlines under the Capital Gains Account Scheme

Date: Oct 13, 2022
Clarification on Section 54 Exemption: Investment Deadlines under the Capital Gains Account Scheme 1. Introduction The case of Dharmista Mehta, Mumbai v. ITO 34(1)(3), Mumbai adjudicated by the...
Vodafone Idea Ltd. vs DCIT: Principal-to-Principal Relationship and TDS Implications under Section 194H

Vodafone Idea Ltd. vs DCIT: Principal-to-Principal Relationship and TDS Implications under Section 194H

Date: Oct 13, 2022
Vodafone Idea Ltd. vs DCIT: Principal-to-Principal Relationship and TDS Implications under Section 194H Introduction In the case of Vodafone Idea Ltd. vs Deputy Commissioner of Income Tax (DCIT),...
Reaffirmation of Burden of Proof under Section 68: Mahacol Tie Up (P) Ltd. v. I.T.O., Ward-1(4), Kolkata

Reaffirmation of Burden of Proof under Section 68: Mahacol Tie Up (P) Ltd. v. I.T.O., Ward-1(4), Kolkata

Date: Oct 13, 2022
Reaffirmation of Burden of Proof under Section 68: Mahacol Tie Up (P) Ltd. v. I.T.O., Ward-1(4), Kolkata Introduction The case of Mahacol Tie Up (P) Ltd., Kolkata v. I.T.O., Ward-1(4), Kolkata...
India-UAE DTAA Article 22 Upholds Non-Taxability of Unexplained Investments by Non-Resident Indians

India-UAE DTAA Article 22 Upholds Non-Taxability of Unexplained Investments by Non-Resident Indians

Date: Oct 12, 2022
India-UAE DTAA Article 22 Upholds Non-Taxability of Unexplained Investments by Non-Resident Indians 1. Introduction The Income Tax Appellate Tribunal (ITAT) in Mumbai delivered a landmark judgment on...
Presumptive Taxation Protections Under Section 44AD: Analysis of Sh. Surinder Kumar Mahajan v. ITO, Pathankot

Presumptive Taxation Protections Under Section 44AD: Analysis of Sh. Surinder Kumar Mahajan v. ITO, Pathankot

Date: Oct 11, 2022
Presumptive Taxation Protections Under Section 44AD: Analysis of Sh. Surinder Kumar Mahajan v. ITO, Pathankot Introduction The case of Sh. Surinder Kumar Mahajan v. Income Tax Officer, Pathankot...
Clarifying Deductions under Section 80P: ITAT Nagpur's Landmark Judgment in Krushi Vibhag Karmchari Vrund Sahakari Pat Sanstha Maryadit vs. ITO, Wardha

Clarifying Deductions under Section 80P: ITAT Nagpur's Landmark Judgment in Krushi Vibhag Karmchari Vrund Sahakari Pat Sanstha Maryadit vs. ITO, Wardha

Date: Oct 8, 2022
Clarifying Deductions under Section 80P: ITAT Nagpur's Landmark Judgment in Krushi Vibhag Karmchari Vrund Sahakari Pat Sanstha Maryadit vs. ITO, Wardha Introduction The case of Krushi Vibhag...
ITA Delhi Tribunal Clarifies Cross-Examination Requirements in Re-Assessment Proceedings: Gahlot v. ITO

ITA Delhi Tribunal Clarifies Cross-Examination Requirements in Re-Assessment Proceedings: Gahlot v. ITO

Date: Oct 5, 2022
ITA Delhi Tribunal Clarifies Cross-Examination Requirements in Re-Assessment Proceedings: Gahlot v. ITO Introduction In the landmark case of Manjit Singh Gahlot, New Delhi v. ITO, Ward-43(5), New...
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