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Indian Income Tax Appellate Tribunal rulings
Overview
The Income Tax Appellate Tribunal (ITAT) in India continues to issue diverse rulings addressing complex tax disputes, transfer pricing, and assessment procedures. In mid-August, the Hyderabad bench upheld a 16% profit estimation for Western Constructions on unverified seized material, while the New Delhi bench allowed Escorts Ltd to claim capital losses on unlisted shares. In Bangalore, the tribunal quashed a revision order against Karnataka Hitech Agro Enterprises regarding partner remuneration, and the Pune bench ruled in favor of Schlumberger India Technology Centre Private Ltd. regarding transfer pricing comparables. The Delhi ITAT also remanded an assessment for Hitachi Astemo Haryana Private Ltd. due to a failure to follow Dispute Resolution Panel directions. By late August, the Mumbai ITAT delivered a major ruling for Reliance Jio Infocomm, deleting a ₹11,003 crore disallowance by stating that accounting classifications do not unilaterally determine if expenses are capital or revenue. The tribunal also upheld the tax exemption status of the National Payments Corporation of India (NPCI), ruling its services serve a “general public utility.” Other decisions included a Jaipur ruling that Section 69A additions require proof of ownership, and a Mumbai ruling that deposited TDS cannot be recovered as a principal liability. In early September, the Pune ITAT deleted a penalty against a Vodafone-Idea distributor, ruling that recharge voucher values do not constitute business turnover for audit purposes. In Delhi, the ITAT deleted a ₹10.13 crore disallowance for Jammu Pigments Limited, citing that the assessment relied on mere allegations of bogus purchases, and ruled that reassessment notices issued to deceased individuals are “void ab initio.” In Mumbai, a Tech Mahindra transfer pricing dispute was remanded for fresh benchmarking. Additionally, the Delhi ITAT deleted a ₹1,91,60,000 addition against Isha Mehta regarding unsecured loans, finding the assessee provided necessary tax returns.
Entities
Income Tax Appellate Tribunal · India · Schlumberger India Technology Centre Private Ltd. · National Payments Corporation of India · Western Constructions
Timeline
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[BUSINESS] 3 sourcesIndian courts quash tax notices issued to non-existent entities
Indian courts have quashed income tax reassessment notices issued to non-existent entities, including a deceased individual and a company that had previously merged.
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[BUSINESS] 2 sourcesIndian tax tribunals and courts issue multiple rulings on assessments and penalties
Indian courts and tax tribunals have issued multiple rulings on income tax matters, including deleting penalties for distributors, invalidating notices issued to deceased persons, and addressing technical IT-R'
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[BUSINESS] 5 sourcesIndia's ITAT issues major rulings for Reliance Jio and NPCI
The Indian Income Tax Appellate Tribunal has issued multiple rulings, including a major ₹11,003 crore tax victory for Reliance Jio and upholding tax exemptions for the NPCI.
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[BUSINESS] 2 sourcesIncome Tax Appellate Tribunal issues multiple rulings on Indian tax disputes
The Income Tax Appellate Tribunal has issued multiple rulings in India, covering cases on transfer pricing, capital losses for unlisted shares, and partner remuneration deductions.
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[BUSINESS] 2 sourcesIndia's ITAT rejects Section 80P deduction claim and restores TDS credit in tax appeals
India's ITAT denied a Section 80P deduction for a co‑operative society that missed its original return and ordered a review of income classification, while it granted TDS credit under Section 194Q to commission
Sources
newsbytesapp.com · taxguru.in · taxscan.in · thetaxtalk.com · timesnownews.com
This summary has been updated 6 times: see revision history