Judgement

Tribunal allows ESOP deduction but denies loss carry forward under Section 72A.

ITAT Denies Section 72A Benefit Where Resulting Company Failed to Issue Shares

The ITAT held the entire rectification proceedings invalid, as the AO had initially accepted the charging of Section 234C interest at Rs 7.82 lakh; hence, it cannot increase the amount later.

ITAT Invalidates Rectification Proceedings As Interest Was Already Charged Under Section 234C; AO Cannot Revise It Later

ITAT quashed the reassessment against Kedia Carbon Pvt. Ltd., holding that the AO reopened the assessment on incorrect facts, borrowed satisfaction, and without independent application of mind.

ITAT Rules Reassessment Invalid Where AO Relied on Erroneous Facts

The Income Tax Appellate Tribunal (ITAT) Kolkata has held that payments made by an Indian company to a UAE-based consultant for advisory and consultancy services cannot be treated as Fees for Technical Services (FTS).

ITAT Holds Advisory and Consultancy Services Rendered by a UAE company are not Taxable as FTS

The ITAT remands charitable tax exemption dispute to CIT(A) for fresh review, allowing the assessee another opportunity to substantiate its Section 11 exemption claim with supporting evidence.

ITAT Sends Charitable Tax Exemption Matter Back to CIT(A) for Fresh Review

The ITAT Delhi has held that an application for registration under Sections 12AB and 80G of the Income-tax Act cannot be rejected without granting the applicant an effective opportunity of being heard.

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ITAT Denies Section 72A Benefit Where Resulting Company Failed to Issue Shares

ITAT Invalidates Rectification Proceedings As Interest Was Already Charged Under Section 234C; AO Cannot Revise It Later

ITAT Rules Reassessment Invalid Where AO Relied on Erroneous Facts

ITAT Holds Advisory and Consultancy Services Rendered by a UAE company are not Taxable as FTS

ITAT Sends Charitable Tax Exemption Matter Back to CIT(A) for Fresh Review

ITAT Sets Aside Rejection of 12AB and 80G Registration Passed Without Hearing Assessee