The Latest Breaking News from ITAT

Gratuity tax deduction denied due to ITR filing error? ITAT Chennai says genuine claims can't be rejected

Due to incorrect schedule in original ITR gratuity tax deduction under Section 43B denied; ITAT Chennai gives relief and says a genuine deduction cannot be denied merely because it was reported under an incorrect schedule in the ITR

The Economic Times · Aug 8

Rs 1.33 crore cash deposit, no ITR filing, yet senior citizen wins income tax case; ITAT Bangalore explains why

Retired teacher from Mysore deposits Rs 1.33 crore cash in bank, files no ITR; tax dept issues notice; he wins case in ITAT Bangalore as tax notice was issued 26 days after the limitation period had expired. Know how he won case in ITAT Bangalore.

The Economic Times · Aug 6

Wife paid husband Rs 7.5 crore after selling her shares and bought his Mumbai property, filed ITR claiming 54F tax exemption, got tax notice; she fought and won the case in ITAT Mumbai

Wife got tax notice as she claimed Section 54F tax exemption by purchasing her husband’s own Mumbai property for Rs 7.5 crore; ITAT Mumbai rules that a property transaction between spouses does not become sham merely because they are related. Know how she won the case in ITAT Mumbai.

The Economic Times · Aug 5

Are you an NRI who sold an under-construction property? Here's what actually counts as your “Date of Purchase” for capital gains calculation

NRIs selling under-construction property must use the allotment date for capital gains. This date determines long-term versus short-term capital gains tax treatment. The Bombay High Court and other rulings support the allotment date as the acquisition point. This principle applies even when possession or registration occurs much later. Proper documentation…

The Economic Times · Jul 29

Employee wrongly declared Rs 14 lakh Australian salary in Indian ITR: ITAT grants tax relief but denies Rs 3.4 lakh foreign tax credit

Employee mistakenly declared Rs 14 lakh Australia salary in Indian ITR, later sought Rs 3.4 lakh foreign tax credit in India for tax paid in Australia; ITAT gives him full tax exemption on salary but denies Rs 3.4 lakh foreign tax credit. Know how employee won the fight in ITAT…

The Economic Times · Jul 28

Rs 17.41 lakh penalty for ITR filing mistake: CA firm's owner's affidavit helps taxpayer get relief in ITAT Mumbai; know how

Rs 17.41 lakh penalty imposed due to error in ITR filed by junior staff in CA firm; Here's how affidavit from the CA firm's owner helps taxpayer get relief from penalty in ITAT Mumbai. Know how taxpayer won case in ITAT Mumbai

The Economic Times · Jul 27

Rs 9.48 lakh income tax demand on coaching centre quashed: ITAT explains why attendance alone doesn't make contractual teachers employees

Contractual teachers held as employees by the tax department and on this ground, Rs 9.48 lakh tax demand raised; ITAT Cochin rules administrative supervision over timings, attendance and leave does not automatically create an employer-employee relationship. Know what ITAT Cochin said about TDS on salary paid to contractual employees.

The Economic Times · Jul 24

Lady with Rs 5.28 lakh income pays no tax despite Rs 1.42 lakh STCG from equities; Know why ITAT Mumbai allowed the Section 87A rebate

Ever since the Income Tax utility has disabled the option to claim Section 87A tax rebate on short term capital gains (STCG) from listed equities in 2024, a flurry of taxpayers from across the country were left with either a tax demand or an uncertain thought. Read to know how…

The Economic Times · Jul 24

Rs 5.26 lakh capital loss carry forward was claimed in original ITR but a lesser claim was denied in revised ITR; Taxpayer fights back and wins in ITAT Bangalore

Filed revised ITR but lost Rs 2.99 lakh capital loss carry forward benefit claimed in original ITR; Know how a man challenged tax dept's decision and won case in ITAT Bangalore. Know how the taxpayer won the case in ITAT Bangalore.

The Economic Times · Jul 22

Employee wrongly reported Rs 65.21 lakh VRS payout in ITR, lost tax relief; ITAT Pune rules the amount is not taxable and grants him relief

Employee got Rs 65.21 lakh as VRS after company shut plant, but wrong ITR reporting led to tax dispute; ITAT Pune rules in his favour and gives him relief from tax. Know how this empoyee won the case in ITAT Pune.

The Economic Times · Jul 18