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ITAT - ITAT Rejects Fresh Section 80-IA Claim in Absence of Incriminating Material; Explains Application of Abhisar Buildwell Ruling.
HES Infra Pvt. Ltd Vs Dy. Commissioner of Income Tax
(2023) TaxCorp(LJ) 32063 (ITAT-HYDERABAD) · Section 80-IA
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TITAT - Hyderabad ITAT Allows Appeals by IBM India Employees, Foreign Assignment Allowance Not Taxable in India
Tadimarri Prasanth Reddy Vs Income Tax Officer
(2023) TaxCorp(LJ) 31908 (ITAT-HYDERABAD)
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Consideration paid in excess of the book value of the assets acquired consists of goodwill and the same is an intangible asset, eligible for depreciation.
Blujay Solutions (India) Private Limited Vs Dy. Commissioner of Income Tax
(2023) TaxCorp(LJ) 31625 (ITAT-HYDERABAD)
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There is no illegality or perversity in CIT(A) order directing AO to rectify mistake of omission to make addition of the unaccounted income, which was apparent from record.
Petla Jagannadh Vs Asstt. C. I. T.
(2023) TaxCorp(LJ) 31613 (ITAT-HYDERABAD)
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There cannot be two contradictory orders of the Tribunal one upholding the assessment and other quashing the assessment based on the jurisdictional error.
Krishna Kumar D Shah (HUF) Vs Income Tax Officer
(2023) TaxCorp(LJ) 31565 (ITAT-HYDERABAD)
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It cannot be said that there was any mistake apparent from record or that the proceedings are amenable to the jurisdiction of the learned Assessing Officer under section 154.
Anjanee Vijetha Kasturi Vs Asst. Commissioner of Income Tax
(2023) TaxCorp(LJ) 31537 (ITAT-HYDERABAD) · Sections 115BBE, 68, 69
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Since the Assessee received the property on account of approval of the scheme of amalgamation in the year under consideration, the income is required to be charged in the year under consideration.
Vertex Projects LLP Vs ACIT
(2023) TaxCorp(LJ) 31465 (ITAT-HYDERABAD) · Sections 47(vi), 56(2)(viia)
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Gift of house to father just prior to sale of land was a camouflage to claim Section 54F deduction as the Assessee owned two house properties.
Rachit V Shah Vs ITO-7(3)
(2023) TaxCorp(LJ) 31199 (ITAT-HYDERABAD) · Section 54F
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No addition can be made on the basis of the statement of a third party under Section 153C and based on a dumb document which does not contain name, year and particulars of Assessee.
Kanipakam Hariprasad Reddy Vs ACIT
(2023) TaxCorp(LJ) 31130 (ITAT-HYDERABAD) · Section 65B
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ITAT - Hyderabad ITAT Decides Consolidated Rent Taxation on Accrual Basis over Lease Life as it takes character of income as per Section 4.
Mytrah Wind Developers Private Limited Vs Income Tax Officer
(2023) TaxCorp(LJ) 30791 (ITAT-HYDERABAD)
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Additional evidence cannot be admitted without calling for a remand report or comments from the Revenue in accordance with Rule 46A.
Ascend Telcom Infrastructure (P) Ltd. Vs ACIT
(2022) TaxCorp(LJ) 30552 (ITAT-HYDERABAD)
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Demonetised currency was received by the Assessee and was wrongfully deposited with the bank.
Vaishnavi Bullion Private Limited Vs ACIT
(2022) TaxCorp(LJ) 30512 (ITAT-HYDERABAD) · Section 68
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The assessee is justified in adopting the ALP of the electricity supply bites captive power generation plant to its AEs at Rs. 8.74 and the Revenue is not justified in excluding certain heads of charges from out of it.
Sree Rayalaseema Hi Strength Hypo Limited Vs DCIT
(2022) TaxCorp(LJ) 30375 (ITAT-HYDERABAD)
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CIT(A) was not justified by estimating the receipts at 16% and deleting the addition.
Western Constructions Vs ACIT
(2022) TaxCorp(LJ) 30314 (ITAT-HYDERABAD)
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Mere projections by the assessee and accepted by the auditors with qualifications cannot be considered as a proper valuation and especially when the auditors have qualified the report.
Quark Enterprises Private Limited Vs ITO
(2022) TaxCorp(LJ) 30136 (ITAT-HYDERABAD) · Section 56(2)(viib)
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Services which are ancillary and essentially linked to the purchase of equipment and cannot be provided on stand alone basis would fall outside the purview of fee of included services under India-US DTAA, thus, liability to deduct tax at source shall not arise.
Electronics Corporation of India Ltd. Vs Commissioner of Income Tax
(2022) TaxCorp(LJ) 30085 (ITAT-HYDERABAD)
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Since the Assessee had understated the profit for the relevant AY, the net gain of Rs.4.05 Cr was to be charged and brought to tax under Section 115JB.
Nikhil Refineries Pvt. Limited Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30054 (ITAT-HYDERABAD)
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Payment made towards data storage services are not in the nature of royalty within the meaning of Section 9(1)(vi) and accordingly TDS liability under Section 195 does not arise.
Reasoning Global EApplication Ltd Vs Dy. C.I.T.
(2022) TaxCorp(LJ) 29961 (ITAT-HYDERABAD)
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Limitation for rectification under Section 154(7) is 4 years even for intimation under Section 143(1).
Zintec Software (P) Ltd Vs Dy. C.I.T.
(2022) TaxCorp(LJ) 29928 (ITAT-HYDERABAD)
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A Company cannot be allowed to set off losses arising from trading in shares conducted by the Directors under their unique client code by using the money lent by the Company.
Nekkanti Systems Private Limited Vs Income Tax Officer
(2022) TaxCorp(LJ) 29799 (ITAT-HYDERABAD)
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