Judgement

ITAT held that a delayed Form 67 filing cannot deny a foreign tax credit if the required conditions are met.

ITAT Allows Foreign Tax Credit Despite Late Filing of Form 67

ITAT remands case of suspicious transactions to the CIT(A) for fresh consideration after noting that some key issues and Rule 46A application was not initially adjudicated properly. 

ITAT Restores Case of Suspicious Transactions to CIT(A) After Rule 46A Application and Key Issues Were Not Properly Considered

The ITAT Mumbai held that exempt dividend can not be treated as taxable only if not disclosed in Schedule EI


ITAT Rules Mere Omission to Report Exempt Dividend Cannot Convert Tax-Exempt Income into Taxable Income

The ITAT remanded a Rs 79.35 lakh tax addition case to the CIT(A), holding that the appellate authority failed to properly examine the assessee's evidence before confirming the addition.

ITAT Sends Tax Addition Case Back to CIT(A) Over Inadequate Examination of Evidence

ITAT granted an educational trust another opportunity to obtain Section 12AB registration and Section 80G approval by remanding the matter to the CIT(E) for fresh consideration.

ITAT Grants Educational Trust Fresh Opportunity for Seeking 12AB Registration and 80G Approval After CIT(E) Rejection

The ITAT Mumbai Holds Mere Investigation Wing Report Cannot Deny Genuine LTCG Exemption Where Share Transactions Are Supported by Evidence


ITAT Allows Section 10(38) LTCG Exemption on Greencrest Shares

The ITAT deleted the Section 271B penalty after holding that director disputes and pending litigation constituted a reasonable cause under Section 273B.

ITAT Quashes Rs 1.5 Lakh Penalty Under Section 271B, Cites Reasonable Cause

The ITAT Bangalore has allowed tax exemption on BSNL VRS retrenchment compensation and eligible leave encashment, granting major relief to retired employees.

 ITAT Rules BSNL VRS Compensation Exempt from Tax Under Section 10(10B), Grants Leave Encashment Relief

The Central Government has granted an income tax exemption to the Kerala Headload Workers Welfare Board for tax years 2026-27 to 2028-29, subject to compliance with the prescribed conditions under the Income Tax Act, 2025.

Kerala Headload Workers Welfare Board Granted Income Tax Exemption for Three Tax Years

Don't rely on an ITR deadline extension. File early to avoid errors, penalties, and refund delays.

ITR Filing: Why You Shouldn't Rely on a July 31 Deadline Extension

The Income Tax Department has uncovered a Rs 65.5 crore fake tax refund scam involving bogus deduction claims under Section 80GGC. 

Meerut Accountant Accused in Rs 65.5 Crore Income Tax Refund Scam

A professional's viral post about paying nearly Rs 1 crore in taxes but receiving no support after being laid off has reignited the debate on social security and taxpayer benefits in India.

Professional’s Viral Post on Rs 1 Crore Tax Sparks Debate on India’s Social Security

Income Tax

Finance

ICAI

ITAT Delhi

ITAT

Chartered Accountant

CBDT

Institute of Chartered Accountants of India

The ITAT Chennai held mere observation that penalty 'Will be Initiated Separately' does not constitute valid satisfaction under Section 271(1)(c)


ITAT Quashes Penalty as AO Failed to Validly Initiate Proceedings During Assessment

The ITAT Mumbai Rules Cash Deposits During Demonetisation Cannot Be Treated as Unexplained Cash Credit When Supported by Evidence 



ITAT Holds Mere Suspicion Over Surge in Jewellery Sales During Demonetisation Cannot Justify Addition 

The Tribunal quashed the reassessment after finding the AO made no addition on the recorded reason for reopening.

ITAT Allows Foreign Tax Credit Despite Late Filing of Form 67:

ITAT Allows Foreign Tax Credit Despite Late Filing of Form 67

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