ITAT: Income-tax computation sheet, not assessment order unless preceded by order computing taxable income

Chandigarh ITAT rules that income tax computation sheet cannot be treated as an assessment order “unless and until it is preceded by an order computing the taxable income of the

Jan 02,2019

ITAT: Deduction u/s 80IC – 'undertaking' specific; Allows claim before loss set-off from other eligible-units

Chandigarh ITAT allows assessee-company's claim of deduction u/s. 80-IC (available for undertaking in special area) vis-à-vis profits earned by its eligible undertakings without setting off the losses of the other eligible

Jan 02,2019

ITAT: 'Online' TDS payment date, not actual credit to Exchequer a/c, relevant; Deletes interest u/s. 201(1A)

Delhi ITAT deletes interest levy u/s. 201(1A) for AY 2015-16 for depositing TDS through online banking channel for the quarter ending June, 2014, on the due-date i.e. 7th July, though

Dec 31,2018

ITAT: Disallows Sec.37(1) deduction to director for advertisement expenses for exhibiting film

Chennai ITAT disallows deduction u/s. 37 towards advertisement/marketing expenses incurred by assessee (Director of Cinema-Autography) for AY 2008-09; During relevant AY, Revenue had not doubted the genuineness of the expenses,

Dec 28,2018

ITAT: Rejects taxpayer's plea of funding 'cash deposits' from old savings, upholds addition

Ahmedabad ITAT upholds addition of unexplained cash deposits to the tune of Rs 10.18 lakhs on individual-assessee during AY 2012-13, rules that there was no cogent material to support assessee's

Dec 28,2018

ITAT: Allows exemption u/s 54F for jointly held property

Chennai ITAT allows exemption from capital gains u/s 54F to the assessee for AY 2009-10 where the property was jointly held by him with his brother; Notes that the assessee

Dec 28,2018

ITAT: Deletes fees levied u/s 234E for period prior to June 1, 2015

Indore ITAT deletes the fees levied u/s 234E for delay in filing TDS statements for period prior to June 1, 2015 in bunch of 135 appeals; Holds that the amendment

Dec 28,2018

ITAT: No TDS u/s 194-I on demurrage charges paid to foreign company

Rajkot ITAT holds that no tax was deductible u/s 194-I on demurrage charges paid to foreign company for AY 2009-10; Rejects the AO's contention that since the demurrage charges were

Dec 28,2018

ITAT: Deletes Sec.40(a)(ia) disallowance on commission to retailers/dealers by distributors on behalf of Idea-Cellular

Jaipur ITAT deletes addition u/s 40a(ia) on individual-assessee (distributor of Idea Cellular Limited) with respect to commission paid to retailers/dealers, rejects Revenue's contention that the commission paid was liable to

Dec 28,2018

ITAT: Special Bench: Formulates guidelines for expeditious hearing of cases referred to Special Benches & Third Members

Ahmedabad ITAT Special Bench formulates guidelines for expeditious hearing of cases referred to Special Benches and Third Members, setting out 120 days threshold for commencing the hearing and 30 days

Dec 28,2018