Judgement

The ITAT has held that a penalty imposed under Section 271G of the Income Tax Act cannot survive when the very transfer pricing adjustment forming its basis has already been deleted in quantum proceedings.

ITAT Deletes Rs 5.46 Crore Penalty Under Section 271G After Transfer Pricing Addition Was Quashed

ITAT quashes reassessment after finding approval obtained from an authority not prescribed by law.

ITAT Quashes Reassessment Over Approval from Wrong Sanctioning Authority

The ITAT Mumbai upheld the order of the National Faceless Appeal Centre (NFAC) deleting an addition of Rs 6.14 crore made under Section 68 of the Income Tax Act

ITAT Deletes Rs 6.14 Crore Addition, Holds Assessee is Not Required to Prove Source of Loan Creditor

ITAT holds no additional PE profits taxable once Indian entities are remunerated at arm's length.

No Separate PE Profits Taxable After TP Acceptance: ITAT

ITAT ruled that unsecured loan claims require proper documentary verification and sent the matter back to the AO to verify Rs 45.16 lakh invested in property.

Unsecured Loan Claims Need Verification, Rules Mumbai ITAT in Property Investment Case

ITAT holds MAT inapplicable to banks and allows deduction of RBI-related payments.

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ITAT Deletes Rs 5.46 Crore Penalty Under Section 271G After Transfer Pricing Addition Was Quashed

ITAT Quashes Reassessment Over Approval from Wrong Sanctioning Authority

ITAT Deletes Rs 6.14 Crore Addition, Holds Assessee is Not Required to Prove Source of Loan Creditor

No Separate PE Profits Taxable After TP Acceptance: ITAT

Unsecured Loan Claims Need Verification, Rules Mumbai ITAT in Property Investment Case

ITAT Reaffirms MAT Provisions Inapplicable to Banking Companies