ITAT: Rejects firm's deemed dividend addition as partners held shares in personal capacity

Mumbai ITAT deletes deemed dividend addition u/s 2(22)(e) made on assessee (partnership firm) which had taken loan from sister concern, distinguishes SC ruling in Gopal & Sons and National Travel

Feb 11,2019

ITAT: CIT(A) cannot enhance income on 'new source' not considered in assessment proceedings

Delhi ITAT deletes addition u/s 68 made on individual-assessee during AY 2014-15, rules that when the matter in assessment proceedings was with respect to claim u/s 54/54F, CIT(A) should not

Feb 08,2019

ITAT: Allows Sec.54 exemption for amount invested towards construction before sale of house-property

Delhi ITAT allows assessee's claim of exemption  u/s 54 towards investment made in under-construction property before the sale of old residential property; Assessee sold a house property in AY 2009-10

Feb 08,2019

ITAT: Sec.43B not applicable to contribution to Environment Relief Fund since assessee-insurer acted as collecting agent

Pune ITAT deletes disallowance made by the AO for contribution by the assessee (Insurance company) to Environment Relief Fund (ERF) Liability u/s 43B since it was not made till due

Feb 08,2019

ITAT: Foreign consultants' payment covered by article on 'Independent Personal Services', not FTS

Ahmedabad ITAT rules that consultancy fees payment by assessee (a Canadian Co. having PE in India) to foreign consultants in relation to irrigation development project awarded by Govt. of India,

Feb 06,2019

ITAT: Denies presumptive taxation benefit u/s. 44AD to partner on remuneration & interest from firm

Chennai ITAT denies assessee-partner's claim of estimating income on presumptive basis u/s. 44AD with respect to interest and remuneration earned from the partnership firms during AY 2012-13; While filing return

Feb 05,2019

ITAT: Quashes Harshad Mehta's assessment; Second 'order giving effect' to same Tribunal order, invalid

Mumbai ITAT grants relief in case of late Shri Harshad Mehta (assessee, a share broker) for AY 1992-93, quashes assessment order dated 15.03.2016 passed u/s 143(3) r.w.s. 254 of the

Jan 29,2019

ITAT: Grants Sec. 11 benefit to Gujarat Cricket Associations; Rejects Revenue's IPL matches commercialisation plea

Ahmedabad ITAT grants Sec. 11 exemption to various cricket associations based in Gujarat (assessees) for AYs 2009-10 to 2012-13 in a batch of appeals taking Gujarat Cricket Association as the

Jan 28,2019

ITAT: Deletes addition of unexplained silver utensils belonging to married-lady, holds within permissible limits

Indore ITAT deletes addition of unexplained silver utensils found in the locker of assessee-individual (a married lady) during the course of search for AY 2015-16; ITAT observes that, CIT(A) had

Jan 25,2019

ITAT: Carrying 'awareness' program for eradication of HIV AIDS, a charitable activity u/s. 2(15)

Delhi ITAT cancels the order passed by CIT(E) withdrawing registration u/s 12AA granted to India HIV/ AIDS Alliance ( a Sec.25 company and charitable trust) and directs Revenue to grant

Jan 25,2019