ITAT

ITAT: 'Make available' condition relevant for supply of design/drawing; Applies ‘ejusdem generis'

Mumbai ITAT rules that amount received by assessee (a UK resident) towards supply of technical designs, drawings, plans, etc. to Indian entity, under the consulting engineering services contract, not FTS

Feb 21,2019

ITAT: Advance lump-sum lease rental taxable over lease period on discounted value basis

Bangalore ITAT holds that lump-sum lease rental received in advance by assessee-lessor during AY 2010-11 would be taxable proportionately over lease period of 30 years on discounted value basis; Assessee

Feb 19,2019

ITAT: Non-raising of invoices can’t postpone revenue recognition once contract entered with clients

Bangalore ITAT rejects assessee’s (engaged in providing counseling & consulting services) claim of recognizing revenue as per proportionate completion method (as per AS-9) based on bills raised, holds that “The

Feb 18,2019

ITAT: Quashes reassessment; Information from Mauritian Authority insufficient to prove unaccounted money allegation

Chandigarh ITAT dismisses Revenue’s appeal against CIT(A) order quashing re-assessment  beyond 4 years, based on information received from Mauritius Revenue Authorities, holds that though such information creates some suspicion, it

Feb 15,2019

ITAT: 'Bonafide belief' valid reason for TDS non-deduction on salary; Rejects Revenue's Ely Lilly reliance

Bangalore ITAT quashes Sec. 201(1)/(1A) proceedings on assessee-employer (a State Power Transmission company, ‘KPTCL’) with respect to TDS default for AYs 2015-16 on leave encashment payments made to employees on

Feb 15,2019

ITAT: Fresh evidence after passing ITAT order not ground to entertain miscellaneous petition

Mumbai ITAT dismisses Revenue’s Miscellaneous Application against ITAT order quashing assessment u/s 153C in absence of proper satisfaction note, rejects Revenue’s contention that satisfaction note was present when notice was

Feb 15,2019

ITAT: Quashes time-barred assessment; Refuses special-audit period exclusion citing AO's non-application of mind

Delhi ITAT quashes assessment order for AY 2008-09 as time-barred, refuses to exclude period taken for special audit u/s 142(2A) citing non-application of mind by AO while initiating special audit;

Feb 15,2019

ITAT: Disallows cash purchases of land u/s 40A(3) despite not claimed as 'business expense'

Amritsar ITAT treats the land purchase & sale transaction by assessee-individual [dealing in iron/steel, cement, timber, etc.] as a business venture for AY 2012-13, disallows cash payments made for land-purchase

Feb 14,2019

ITAT: Accepts LTCG-claim on gifted shares sale; Ignores UK property while construing RNOR's Sec. 54F benefit

Bengaluru ITAT accepts assessee-individual's [resident but not ordinarily resident in India (RNOR)] claim of long term capital gains (LTCG) of Rs. 26 cr. arising on sale of shares received as

Feb 13,2019

ITAT: No restriction u/s. 54 on investing capital gains from sale of 'multiple' houses

Mumbai ITAT upholds CIT(A)'s order allowing exemption u/s 54 in respect of long term capital gains ('LTCG') arising from sale of 3 residential flats, relies on Bombay HC ruling in

Feb 12,2019

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