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Income tax Appellate Tribunal

ITAT: Taxes paid in foreign jurisdiction on foreign income not allowable as deduction u/s 37(1)

Feb 14, 2025
  • In Favour of Revenue
  • Citation Number : TS-105-ITAT-2025(CHNY)
  • Tax Payer : Zoho Corporation Private Limited
Supreme Court

SC: Expression ‘found in the course of search’ includes documents from third party investigation; Interprets Sec.271AAA(1) penalty

Feb 13, 2025
  • In Favour of Both, Partially
  • Citation Number : TS-103-SC-2025
  • Tax Payer : K. Krishnamurthy
High Court

HC: Quashes assessment on non-searched entity sans separate satisfactory note by AO on searched person

Feb 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-102-HC-2025(MAD)
  • Tax Payer : SRM Systems and Software Pvt Ltd
Income tax Appellate Tribunal

ITAT: Eligible for benefit u/s 115BAA for subsequent years, cannot deny benefit on belated filing of Form 10-IC

Feb 11, 2025
  • In Favour of Assessee
  • Citation Number : TS-101-ITAT-2025(HYD)
  • Tax Payer : Sandor Medicaids Private Limited
High Court

HC: Delhi HC lacks jurisdiction, original assessment order passed by AO in Amritsar & not Delhi

Feb 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-100-HC-2025(DEL)
  • Tax Payer : Chemester Food Industries Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Deletes addition u/s 68, nature & source of SBNs provided along with relevant evidences

Feb 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-99-ITAT-2025(CHNY)
  • Tax Payer : Ayyan Fire Works-Factory Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Offer to pay tax on additional amount does not tantamount to discovery of undisclosed income; Deletes penalty

Feb 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-97-ITAT-2025(CHNY)
  • Tax Payer : Future Gaming and Hotel Services Private Limited
Income tax Appellate Tribunal

ITAT: Section 2(22)(e) inapplicable, transactions undertaken ‘regularly’ & ‘consistently’, for commercial expediency

Feb 10, 2025
  • In Favour of Assessee
  • Citation Number : TS-95-ITAT-2025(Kol)
  • Tax Payer : Merino Industries Ltd
Income tax Appellate Tribunal

ITAT: Sec.69A addition qua cash deposit on Revenue’s mere disbelief of explanation offered, not sustainable

Feb 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-62-ITAT-2025(PUN)
  • Tax Payer : Nathmal Rupchand Jain
Income tax Appellate Tribunal

ITAT: Upholds validity of reassessment, sans filing of ROI; Partially deletes unaccounted cash deposits

Feb 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-93-ITAT-2025(PUN)
  • Tax Payer : Rehana Abdul Wahab Sain
Income tax Appellate Tribunal

ITAT: TDS liability on year-end provision accrues only for ascertained liability

Feb 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-71-ITAT-2025(CHNY)
  • Tax Payer : Cognizant Technology Solutions India Private Limited
High Court

HC: Validates CBDT Notification limiting Sec. 80IB(10) benefit for slum redevelopment project; Denies Sec. 80IB(10) benefit

Feb 08, 2025
  • In Favour of Revenue
  • Citation Number : TS-70-HC-2025(BOM)
  • Tax Payer : Kiran Harsukhlal Hemani
High Court

HC: Quashes reassessment proceedings being time barred, follows SC judgments in Ashish Agarwal & Rajiv Bansal

Feb 08, 2025
  • In Favour of Assessee
  • Citation Number : TS-90-HC-2025(DEL)
  • Tax Payer : Ram Balram Buildhome Pvt. Ltd
Supreme Court

SC: Compounding of offences allowable in deserving cases, voluntary disclosure covered under 'first offence'; Allows Assessee's SLP

Feb 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-94-SC-2025
  • Tax Payer : Vinubhai Mohanlal Dobaria
Income tax Appellate Tribunal

ITAT: SB allows expenses allocated to Indian PE, u/Article7(3) of India-UAE DTAA, restrictions u/s 44C not applicable

Feb 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-92-ITAT-2025(Mum)
  • Tax Payer : Mashreq Bank PSC
Income tax Appellate Tribunal

ITAT: Sets aside CIT(A) order, not reasoned & speaking, violates principles of natural justice

Feb 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-91-ITAT-2025(Bang)
  • Tax Payer : SLK Software Pvt. Ltd
Income tax Appellate Tribunal

ITAT: Adjustment in purchase consideration due to increase in GST rates, not within ambit of Section 56(2)(x)

Feb 07, 2025
  • In Favour of Assessee
  • Citation Number : TS-89-ITAT-2025(Mum)
  • Tax Payer : Jayantilal Umashankar Chavji
Income tax Appellate Tribunal

ITAT: Power u/s 263 can be invoked on basis of ‘record’ at the time of examination, sets aside Sec. 263 order

Feb 06, 2025
  • In Favour of Assessee
  • Citation Number : TS-88-ITAT-2025(Bang)
  • Tax Payer : Vinod Kumar Singhal
Prohibition of Benami Property Transactions Appellate Tribunal

PBPTAT: Confirms attachment of seized items as Benami; Benamidar lent its name, didnot disclose beneficial owners

Feb 06, 2025
  • In Favour of Assessee
  • Citation Number : TS-87-PBPTAT-2025(DEL)
  • Tax Payer : SRS Mining
Income tax Appellate Tribunal

ITAT: Quashes penalty u/s 270A, claim made under bonafide belief; Interprets word "may" u/s 270A as discretionary

Feb 06, 2025
  • In Favour of Assessee
  • Citation Number : TS-86-ITAT-2025(CHNY)
  • Tax Payer : Chitra Jaikumar