ITAT allowed multiple grounds of appeal, deleting disallowances ...

Multiple Tax Deductions Reinstated: ITAT Allows Comprehensive Relief for Assessee Across Disputed Taxation Grounds

June 2, 2025

Case Laws Income Tax AT

ITAT allowed multiple grounds of appeal, deleting disallowances across several taxation issues. The tribunal found in favor of the assessee regarding unclaimed balances written off, prior period expenses, and advances received on land sale. Specifically, the ITAT deleted additions under Section 2(22)(e) relating to deemed dividend, rejected capital nature claims for repair expenses, and removed proportionate interest expenditure disallowance. The tribunal emphasized that expenses were business-related, repairs were necessary for operational purposes, and borrowed funds could be presumed to have been utilized from owned funds when sufficient internal resources existed. The decision comprehensively reinstated the assessee's claimed deductions and income treatments across multiple disputed taxation aspects.

View Source

← Previous Next →

ITAT allowed multiple grounds of appeal, deleting disallowances ...

Multiple Tax Deductions Reinstated: ITAT Allows Comprehensive Relief for Assessee Across Disputed Taxation Grounds

June 2, 2025

Case Laws Income Tax AT

You may also like:

ITAT Decision Summary: The ITAT comprehensively allowed multiple tax-related claims for the assessee, including: (a) validating internal CUP benchmarking for interest on...

ITAT adjudicated multiple tax-related issues in favor of the assessee. The tribunal held that efficiency gain amounts must be set aside for regulatory consideration,...

ITAT adjudicated a tax penalty case involving multiple PAN registrations. The assessee demonstrated inadvertent income reporting across different PAN statuses (from...

ITAT upheld multiple findings from CIT(A), predominantly favoring the assessee across various contested issues. Key determinations include deletion of additions under...

ITAT allowed partial relief to the Assessee, directing recalculation of tax liability. The tribunal rejected Revenue's contentions regarding Section 80IA deduction,...

The ITAT adjudicated a tax dispute involving multiple service charges, systematically examining the taxability of royalty receipts under section 9(1)(vi) and DTAA...

Disallowance u/s 40(a)(ia) for non-deduction of tax at source (TDS) - assessee in default - Assessee has paid interest u/s 201(1A) for non-deduction/short deduction of...

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

ITAT ruled in favor of the assessee, comprehensively addressing multiple taxation issues. The tribunal deleted disallowances under section 14A and section 115JB, finding...

Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

ITAT adjudicated a tax dispute concerning expense allocation and deduction claims under Section 80IC. The tribunal remanded the matter to the Assessing Officer for...

The amount of tax paid in a foreign country which is not eligible for benefit u/s 91 of the Act, is expenditure eligible for deduction u/s 37(1) of the Act. It is...

ITAT partially allowed the appeal. In the transfer pricing dispute, the tribunal directed the TPO to exclude XS CAD India Private Limited from comparables, recognizing...

The ITAT partially allowed the assessee's appeal, directing deletion of several additions and modifications to income calculations. Key outcomes include: (1) commission...

Quick Updates: