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ITAT Mumbai Overturns Assessment Order Over Procedural Fairness Violations
ITAT Mumbai overturned an assessment order, citing procedural fairness violations and emphasizing the taxpayer's right to be heard in tax cases.
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ITAT Mumbai Clarifies Critical Banking Taxation Standards for AY 2010-11
ITAT Mumbai's landmark ruling clarifies banking taxation for AY 2010-11, resolving disputes on pension funds, bad debts, and regulatory disallowances.
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ITAT Ruling Clarifies Tax Audit Errors Do Not Justify Automatic Disallowances
The Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling, determining that a tax audit report containing erroneous figures cannot serve as the sole legal basis for invoking disallowances…
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Pune ITAT Caps Contract Profit Estimation at 8%, Providing Significant Relief to Taxpayers
The Pune bench of the Income Tax Appellate Tribunal (ITAT) delivered a landmark ruling this week, declaring that an 18% net profit estimation on contract receipts is excessive without concrete…
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ITAT Rules Cash Deposits in Medical Business Are Not Fully Taxable Under Section 69A
Clarifying Tax Treatment for Business Cash DepositsIn a significant ruling for small-scale retailers, the Income Tax Appellate Tribunal (ITAT) has clarified that cash deposits made into a medical store's bank…
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ITAT Condonation Ruling: Prioritizing Substantial Justice Over Procedural Delays
The Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling, condoning a nearly three-year delay in filing an appeal after the taxpayer cited erroneous professional advice as the primary…
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CIT(E) Cannot Act Merely on AO’s Recommendation – Independent Satisfaction Mandatory for Grant or Rejection of U/s 12AB Registration
In a significant ruling, the Income Tax Appellate Tribunal (ITAT) has clarified that the Commissioner of Income Tax (Exemption) [CIT(E)] cannot reject applications for registration under Section 12AB of the…
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ITAT Ruling Provides Crucial Relief for Trusts Facing Section 11(2) Exemption Denials
A New Procedural Path for Charitable TrustsThe Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling providing a procedural lifeline to charitable trusts that have failed to file Form…
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ITAT Rules BSNL VRS Compensation Fully Exempt from Income Tax
In a significant legal victory for thousands of former employees, the Income Tax Appellate Tribunal (ITAT) ruled this week that compensation received under the Bharat Sanchar Nigam Limited (BSNL) Voluntary…
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ITAT Ruling Clarifies Section 54F Relief for Property Acquisitions
ITAT's new ruling offers significant relief for taxpayers, clarifying Section 54F property acquisition timelines even with delayed registration.