ITAT Quick Weekly Flashback

Income Tax Disallowance Can’t Be Made For Non-Submission Of Flat Buyer’s Pan Details: Delhi ITAT

Case Title: ACIT Versus Ardee Infrastructure Pvt. Ltd.

Case No.: ITA No.3584/DEL/2023

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the income tax disallowance cannot be made for non-submission of flat buyer’s PAN details.

Income Tax Appeal Filed On Behalf Of Company Whose Name Is Struck Off Is Maintainable: ITAT

Case Title: Boopendradas (Vikash) Sungker Versus DCIT

Case No.: ITA No.1866/Del/2022

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that income tax appeal filed on behalf of a company whose name is struck off is maintainable.

Interest Received On Damages Is A ‘revenue Receipt’, Income Tax Payable: ITAT

Case Title: Universal Tractor Holding LLC Versus DCIT

Case No.: ITA No. 2216/Del/2022

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that income tax is payable on interest received on damages.

Managerial Service Are Not ‘Technical Services’, No TDS Deductible: ITAT

Case Title: Dy. CIT(IT)-3(1)(2) Versus Lloyds Register of Shipping

Case No.: ITA No. 1777/Mum/2024

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that TDS is not deductible on managerial service as it is not ‘technical services’.

Relief To Union Bank | Income Tax On Book Profits Not Applicable On ‘corresponding New Bank’: ITAT

Case Title: Union Bank of India Versus DCIT

Case No.: ITA No.424/Mum/2020

In a major relief to the Union Bank of India, the Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that the income tax on book profits is not applicable on ‘corresponding new bank’.