Total
76224
ITAT Orders
Processing of returns of A.Y. 2008-09 - Steps to clear the backlog - Instruction No. 1/2010, dated 25-2-2010
Interest on loan taken for repayment of earlier loan taken for business purposes is not allowable u/s 24(1)(vi)
Depreciation : Requirement of second proviso to rule 5(1A) of IT Rules is satisfied if option is exercised before expiry of due date of filing of return of income u/s 139(1) of IT Act, 1961
Indo-US Treaty : Profits attributable to transaction of cargo, mail, etc. by aircrafts owned, chartered or leased by assessee cannot be taxed in India
Notifications under section 35(1)(ii) - Public Health Foundation of India/Petroleum Conservation Research Association notified - Notification No. 13 & 14/2010, dated 5-3-2010
Demand raised by AO in assessment does not get vacated only on filing of application before Settlement Commission
Credit to expenditure on improvement, while determining capital gains u/s 50C, can be given when there is evidence
When notice is served through Courier extra caution is required; caution has to be necessarily in the form of proper identification of the person upon whom the notice is service
Transfer Pricing: TNM method requires comparison of net profit margins and not operating margins of enterprises
Once assessee is carrying on a speculation business and profits and gains have arisen from that business during course of assessment year, the assessee is entitled to set off losses carried forward from a speculation business arising out of a previous assessment year
Right of carry forward u/s 74(1) in respect of long term capital loss is not hit by provisions of section 70(3)
Profit derived from contract works does not qualify for relief u/s 80-IB
Section 50C has no application for arriving at value of benefit u/s 2(24)(iv)
Section 35 refers to ‘capital expenditure’ and does not require any further requirement
Section 43A read with Explanation 3 thereto would apply to roll over premium charges paid by an assessee in respect of foreign exchange forward contracts
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On this historic Day of 25th of January, the Income-tax Appellate Tribunal was constituted in 1941. It complets sixty years and celebrates its Diamond Jubilee today The Income Tax Appellate Tribunal, (ITAT) is one of the oldest temple of justice in our country. It is said that the older the temple, the greater is its sanctity and reverence. On this solemn occasion ITAT rededicates itself to the lofty ideals which inspired its creation, namely,
"Sulabh Nyay & Satwar Nyay"
~ which means easy and quick justice. It has adopted the following criteria for the working of the Tribunal.
Inexpensive;
Accessibility;
Freedom from technicalities;
Expedition; and
An expert knowledge of their particular subject
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EMERGENCE OF TRIBUNAL
FORMATION OF BENCHES
QUALIFICATIONS FOR APPOINTMENT OF MEMBERS
Explanation: For the purposes of this sub-section
TENURE OF APPOINTMENT & SELECTION PROCEDURE
PRESENT RULES FOR SELECTION
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PAY SCALE and Service Conditions in the Tribunal
BENCH-WISE JURISDICTION
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OFFICAL PUBLICATION or TRIBUNAL DECISIONS I.e., "ITD"
ELEVATION FROM TRIBUNAL
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