Judgement

The ITAT Chennai has deleted a penalty of Rs 1.50 lakh imposed under Section 271B of the Income Tax Act on Tamil Sports & Recreation Club for failure to obtain a tax audit report. 

ITAT Rules Mutuality Based Club's Liquor Supply to Members Cannot Automatically Trigger Tax Audit Penalty

 ITAT sends transfer pricing issues back to TPO for fresh examination following later-year developments.

ITAT Remands Rs 36.60 Crore TP Adjustment in Veolia Intra-Group Services Case

The ITAT Bangalore has granted partial relief to Qliktech International in a dispute concerning taxation of income arising from its Indian operations.

ITAT Deletes DAPE Based Tax Addition And Remits Income Tax Refund Interest Issue to AO

The ITAT deletes the Rs 45.91 lakh LTCG addition, holding that a mere investigation wing report without direct evidence cannot prove bogus share transactions under section 68.

ITAT Deletes Bogus LTCG Addition, Holds Investigation Wing Report Alone Cannot Prove Sham Share Transactions

The ITAT allows depreciation claim on foreign exchange loss capitalised under Section 43A and deletes Rs 2.42 lakh disallowance.

ITAT Deletes Rs 2.42 Lakh Disallowance, Allows Depreciation on Capitalised Forex Loss Under Section 43A

Notifications

DPCC has been exempted from income tax on specified income under Section 10(46), subject to prescribed conditions.

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ITAT Rules Mutuality Based Club's Liquor Supply to Members Cannot Automatically Trigger Tax Audit Penalty

ITAT Remands Rs 36.60 Crore TP Adjustment in Veolia Intra-Group Services Case

ITAT Deletes DAPE Based Tax Addition And Remits Income Tax Refund Interest Issue to AO

ITAT Deletes Bogus LTCG Addition, Holds Investigation Wing Report Alone Cannot Prove Sham Share Transactions

ITAT Deletes Rs 2.42 Lakh Disallowance, Allows Depreciation on Capitalised Forex Loss Under Section 43A

Centre Grants Income Tax Exemption to Delhi Pollution Control Committee u/s Section 10(46)