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Income tax Appellate Tribunal Latest

ITAT: Deletes LTCG addition sans beneficial ownership & non-receipt of sale proceeds

Mar 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-245-ITAT-2025(Mum)
  • Tax Payer : Vinod Nihalchand Jain Ltd
Income tax Appellate Tribunal

ITAT: Quashes Sec. 148 notice issued beyond 3 years due to improper sanction; Follows Rajeev Bansal judgement

Mar 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-250-ITAT-2025(DEL)
  • Tax Payer : Genpact India Holdings
Income tax Appellate Tribunal

ITAT: Denying FTC for belated filing of Form-67 ‘not justified’; Allows Assessee’s claim

Mar 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-251-ITAT-2025(Kol)
  • Tax Payer : Timirbaran Mazumder
High Court

HC: Excise-duty exemption for setting up plywood unit not taxable as revenue receipt; Follows Sahney Steel

Mar 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-248-HC-2025(GAUH)
  • Tax Payer : Greenply Industries Ltd
High Court

HC: Imposes costs on assessee for taking ‘chances’ with judicial process despite alternate remedy

Mar 22, 2025
  • In Favour of Assessee
  • Citation Number : TS-249-HC-2025(BOM)
  • Tax Payer : Sawai Fragrances
Income tax Appellate Tribunal

ITAT: Invalid jurisdiction assumption, assessment basis principal place of business & not PAN history

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-247-ITAT-2025(DEL)
  • Tax Payer : Vee Gee Industrial Enterprises Pvt. Ltd
High Court

HC: Mere uploading of assessment order/demand on portal not 'service' on assessee

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-246-HC-2025(BOM)
  • Tax Payer : Mythri Movie Makers Mumbai
Income tax Appellate Tribunal

ITAT: Allows Assessee to avail benefit of VsV 2024, considers an extension of VsV 2020

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-244-ITAT-2025(JPR)
  • Tax Payer : Vimal Kumar Garg
Income tax Appellate Tribunal

ITAT: Grants tax exemption, cites no "Adventure in the Nature of Trade" in agricultural land sale

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-242-ITAT-2025(COCH)
  • Tax Payer : P.C. Jose
High Court

HC: BARC share acquisition deemed charitable, not investment; Affirms Sec.11/12 exemption for Indian Broadcasting

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-241-HC-2025(DEL)
  • Tax Payer : Indian Broadcasting Foundation
Income tax Appellate Tribunal

ITAT: Recording of dissatisfaction u/s 14A not required in case of suo moto disallowance

Mar 21, 2025
  • In Favour of Revenue
  • Citation Number : TS-235-ITAT-2025(Mum)
  • Tax Payer : NSE Clearing Limited
Income tax Appellate Tribunal

ITAT: Only ‘real income’ embedded in commission can be taxed, not entire amount of receipts

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-237-ITAT-2025(Mum)
  • Tax Payer : Vasant Nivrutti Zimur
Income tax Appellate Tribunal

ITAT: Assessee eligible for FTC as requirement of filing Form 67 directory, not mandatory

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-238-ITAT-2025(Bang)
  • Tax Payer : Madan Kumar Sivinigari
Income tax Appellate Tribunal

ITAT: Intimation u/s 143(1) merges with scrutiny-assessment u/s 143(3) when proposed adjustments part of subject matter

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-239-ITAT-2025(Mum)
  • Tax Payer : Aditya Birla Housing Finance Limited
Income tax Appellate Tribunal

ITAT: AO cannot introduce fresh grounds, not confronted in SCN to salvage reassessment

Mar 21, 2025
  • In Favour of Assessee
  • Citation Number : TS-240-ITAT-2025(Mum)
  • Tax Payer : CEC-ITD CEM TPL Joint Venture
Income tax Appellate Tribunal

ITAT: Allows advance tax credit despite payment in prior AY citing delayed transaction settlement

Mar 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-236-ITAT-2025(DEL)
  • Tax Payer : Marguerite Lasusa Chawla
Income tax Appellate Tribunal

ITAT: DCF method applies to pending assessments; Deletes addition u/s 56(2)(viib) sans over-valuation of shares

Mar 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-234-ITAT-2025(DEL)
  • Tax Payer : East Delhi Leasing P. Ltd
High Court

HC: Criticizes Revenue for 16-year refund delay, warns of interest recovery from Officers responsible

Mar 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-233-HC-2025(BOM)
  • Tax Payer : Nirmalkumar Mulchand Puruswani
High Court

HC: Can't initiate re-opening merely because AO failed to disallow expense; Allows Glaxo's writ

Mar 20, 2025
  • In Favour of Assessee
  • Citation Number : TS-232-HC-2025(BOM)
  • Tax Payer : GlaxoSmithKline Pharmaceuticals Ltd
Income tax Appellate Tribunal

ITAT: Incorrect invocation of Sec. 69C, payments duly shown in books, no adverse material against Assessee

Mar 19, 2025
  • In Favour of Assessee
  • Citation Number : TS-229-ITAT-2025(Mum)
  • Tax Payer : Milestone Finvest Limited