Franklin Joshva
![Unexplained Credit Addition u/s 68: ITAT Upholds CIT(A)’s Order, Citing Retraction of Statements and Documentary Evidence [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/500x300_2071634-unexplained-credit-unexplained-credit-addition-section-68-of-the-income-tax-act-taxscan.webp "Unexplained Credit Addition u/s 68: ITAT Upholds CIT(A)’s Order, Citing Retraction of Statements and Documentary Evidence [Read Order]")
Unexplained Credit Addition u/s 68: ITAT Upholds CIT(A)’s Order, Citing Retraction of Statements and Documentary Evidence [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of the addition of Rs. 6,93,00,000 under Section 68 of the Income...
![Foreign Exchange Loss Allowed as Revenue Expenditure: ITAT Deletes Disallowance Citing Non-Capitalization [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070957-foreign-exchange-loss-revenue-expenditure-itat-deletes-disallowance-citing-non-capitalization-taxscan.webp "Foreign Exchange Loss Allowed as Revenue Expenditure: ITAT Deletes Disallowance Citing Non-Capitalization [Read Order]")
![Section 14A Disallowance Restricted to Exempt Income Investments: ITAT Upholds CIT(A)’s Order, Rejects Retrospective Amendment Application [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070951-itat-mumbai-section-14a-disallowance-income-investments-taxscan.webp "Section 14A Disallowance Restricted to Exempt Income Investments: ITAT Upholds CIT(A)’s Order, Rejects Retrospective Amendment Application [Read Order]")
![Bogus Purchase Addition Restricted to 12.5% Gross Profit: ITAT Upholds CIT(A)’s Order, Citing Judicial Precedent [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070917-bogus-purchase-addition-taxscan.webp "Bogus Purchase Addition Restricted to 12.5% Gross Profit: ITAT Upholds CIT(A)’s Order, Citing Judicial Precedent [Read Order]")
![Unaccounted Cash Sales Reconciled with Invoices and Stock: ITAT Upholds Deletion of ₹30 Lakh Addition u/s 69C [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070914-unaccounted-cash-sales-cash-sales-cash-sales-reconciled-with-invoices-and-stock-taxscan.webp "Unaccounted Cash Sales Reconciled with Invoices and Stock: ITAT Upholds Deletion of ₹30 Lakh Addition u/s 69C [Read Order]")
Satisfaction Note by the AO for S.153C Assessment Need to Be Recorded for Each AY: ITAT Quashes ₹2.11 Crore Addition Citing Combined Satisfaction Note [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the satisfaction note under Section 153C of the Income Tax Act, 1961, must be recorded separately for each assessment year and...
![Satisfaction Note by the AO for S.153C Assessment Need to Be Recorded for Each AY: ITAT Quashes ₹2.11 Crore Addition Citing Combined Satisfaction Note [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070883-itat-quashes-211-crore-addition-citing-combined-satisfaction-note-taxscan.webp "Satisfaction Note by the AO for S.153C Assessment Need to Be Recorded for Each AY: ITAT Quashes ₹2.11 Crore Addition Citing Combined Satisfaction Note [Read Order]")
Housewife Taxpayer Not Complied to Notices for Stock Transaction: ITAT Remits ₹11.16 Lakh Unexplained Income Matter with 10k Costs [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) remitted to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication, imposing a cost of ₹10,000 for non-compliance with...
![Housewife Taxpayer Not Complied to Notices for Stock Transaction: ITAT Remits ₹11.16 Lakh Unexplained Income Matter with 10k Costs [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070867-housewife-taxpayer-not-complied-notices-stock-transaction-itat-remits-1116-lakh-unexplained-income-matter-10k-costs-taxscan.webp "Housewife Taxpayer Not Complied to Notices for Stock Transaction: ITAT Remits ₹11.16 Lakh Unexplained Income Matter with 10k Costs [Read Order]")
Ex-Parte Appellate Order Without Reasonable Opportunity: ITAT Restores Rs. 2.55 Cr Matter for Fresh Adjudication [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) restored the matter to the Commissioner of Income Tax (Appeals) [CIT(A)] for de novo adjudication and held that the ex-parte appellate...
![Ex-Parte Appellate Order Without Reasonable Opportunity: ITAT Restores Rs. 2.55 Cr Matter for Fresh Adjudication [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070880-parte-appellate-order-without-reasonable-opportunity-itat-restores-matter-adjudication-taxscan.webp "Ex-Parte Appellate Order Without Reasonable Opportunity: ITAT Restores Rs. 2.55 Cr Matter for Fresh Adjudication [Read Order]")
Reassessment Invalid Due to Lack of New Tangible Material and Credible Information: ITAT Quashes ₹33.81 Lakh Addition [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the reassessment under Section 147 of the Income TaxAct, 1961, was invalid due to the lack of new tangible material and credible...
![Reassessment Invalid Due to Lack of New Tangible Material and Credible Information: ITAT Quashes ₹33.81 Lakh Addition [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/500x300_2071541-reassessment-itat-taxscan.webp "Reassessment Invalid Due to Lack of New Tangible Material and Credible Information: ITAT Quashes ₹33.81 Lakh Addition [Read Order]")
Pre-Deposit Waiver Denied for CESTAT Appeal u/s 35F of Excise Act: Delhi HC Grants Extension Till 31 Oct 2025 for Remaining Payment [Read Order]
The Delhi High Court has rejected a plea for partial waiver of the mandatory pre-deposit required under Section 35F of the Central Excise Act, 1944, for filing an appeal before the Customs, Excise and...
![Pre-Deposit Waiver Denied for CESTAT Appeal u/s 35F of Excise Act: Delhi HC Grants Extension Till 31 Oct 2025 for Remaining Payment [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070934-the-court-denied-petitioners-request-partial-waiver-pre-deposit-filing-appeal-before-cestat-citing-settled-legal-precedents-granted-an-extension-remaining-payment-taxscan.webp "Pre-Deposit Waiver Denied for CESTAT Appeal u/s 35F of Excise Act: Delhi HC Grants Extension Till 31 Oct 2025 for Remaining Payment [Read Order]")
Disallowance in Unabated Assessment Without Incriminating Material: ITAT Upholds Deletion of ₹16.29 Lakh Penalty u/s 271(1)(c) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of penalty under Section 271(1)(c) of the Income Tax Act, 1961 and held that adhoc disallowance in an unabated...
![Disallowance in Unabated Assessment Without Incriminating Material: ITAT Upholds Deletion of ₹16.29 Lakh Penalty u/s 271(1)(c) [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070898-itat-penalty-deletes-taxscan.webp "Disallowance in Unabated Assessment Without Incriminating Material: ITAT Upholds Deletion of ₹16.29 Lakh Penalty u/s 271(1)(c) [Read Order]")
Disallowance of Agricultural Income in Revisionary Proceedings: ITAT Deletes Addition, Confirms 88.62 Acres under Cultivation Including Eucalyptus Trees [Read Order]
The Cuttack Bench of the Income Tax Appellate Tribunal (ITAT) deleted the disallowance of agricultural income in revisionary proceedings under Section 263 of the Income Tax Act, 1961, and ruled that...
![Disallowance of Agricultural Income in Revisionary Proceedings: ITAT Deletes Addition, Confirms 88.62 Acres under Cultivation Including Eucalyptus Trees [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070921-itat-cuttack-agricultural-income-revisionary-proceedings-taxscan.webp "Disallowance of Agricultural Income in Revisionary Proceedings: ITAT Deletes Addition, Confirms 88.62 Acres under Cultivation Including Eucalyptus Trees [Read Order]")