Franklin Joshva
![Unexplained Cash Credit Addition u/s 68 unsustainable as Advances from Associate Concern Accepted in Earlier Years: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/500x300_2115685-itat-kolkata-cash-credit-unexplained-cash-credit-cash-credit-addition-itat-ruling-itat-on-cash-credit-taxscan.webp "Unexplained Cash Credit Addition u/s 68 unsustainable as Advances from Associate Concern Accepted in Earlier Years: ITAT [Read Order]")
Unexplained Cash Credit Addition u/s 68 unsustainable as Advances from Associate Concern Accepted in Earlier Years: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeal and held that the provision of Section 68 of the Income...
![Breach of Mandatory Time Limits of Seven Days u/s 148A(b) and Three Months u/s 148 Invalidates Reassessment: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/250x150_2115717-breach-mandatory-time-limits-seven-days-taxscan.jfif "Breach of Mandatory Time Limits of Seven Days u/s 148A(b) and Three Months u/s 148 Invalidates Reassessment: ITAT [Read Order]")
![IGST Refund on Zero-Rated Exports Not Income: ITAT Remands Matter for Limited Verification of Refund Ledger [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/250x150_2115702-igst-refund-zero-rated-exports-not-income-itat-remands-matter-limited-verification-refund-ledger-taxscan.webp "IGST Refund on Zero-Rated Exports Not Income: ITAT Remands Matter for Limited Verification of Refund Ledger [Read Order]")
![Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/250x150_2115716-only-profit-element-must-be-taxed-in-unrecorded-business-receipts-taxsan.webp "Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]")
![S. 68 Not Attracted as Repayment Established by Banking Channels: ITAT upholds Deletion of ₹2.90 Cr Addition [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/250x150_2115705-repayment-established-banking-channels-itat-upholds-deletion-addition-taxscan.webp "S. 68 Not Attracted as Repayment Established by Banking Channels: ITAT upholds Deletion of ₹2.90 Cr Addition [Read Order]")
Customs Broker Not Liable for Penalty u/s 112(a) for Smuggling without Evidence of Abetment: CESTAT Set asides Penalty [Read Order]
The Chennai Bench of the Customs, Excise andService Tax Appellate Tribunal (CESTAT) ruled that a penalty under Section 112(a) of the Customs Act, 1962, was not legally sustainable against a Customs ...
![Customs Broker Not Liable for Penalty u/s 112(a) for Smuggling without Evidence of Abetment: CESTAT Set asides Penalty [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/500x300_2115682-customs-broker-not-liable-penalty-112a-smuggling-without-evidence-abetment-cestat-set-asides-penalty-taxscan.webp "Customs Broker Not Liable for Penalty u/s 112(a) for Smuggling without Evidence of Abetment: CESTAT Set asides Penalty [Read Order]")
Mistaken Identity Allegation in Accommodation Entry Requires Factual Verification: ITAT Remands Matter [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) restored a matter to the Assessing Officer for the Assessment Year 2015-16 and directed a factual verification of whether the assessee ...
![Mistaken Identity Allegation in Accommodation Entry Requires Factual Verification: ITAT Remands Matter [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/500x300_2115302-itat-remands-matter-taxscan.jfif "Mistaken Identity Allegation in Accommodation Entry Requires Factual Verification: ITAT Remands Matter [Read Order]")
Failure to obtain Mandatory Approval from PCCIT for Notice Issued Beyond Three Years: ITAT quashes reassessment order [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) quashed a reassessment order and ruled that the Assessing Officer (AO) failed to obtain mandatory prior approval from the Principal Chief ...
![Failure to obtain Mandatory Approval from PCCIT for Notice Issued Beyond Three Years: ITAT quashes reassessment order [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/500x300_2115279-itat-reassessment-taxscan.jfif "Failure to obtain Mandatory Approval from PCCIT for Notice Issued Beyond Three Years: ITAT quashes reassessment order [Read Order]")
Revenue Failed to Establish Business Transactions as Non-Genuine: ITAT Deletes Addition on Fictitious Sundry Debtors [Read Order]
The Delhi Bench of the Income Tax AppellateTribunal (ITAT) deleted an addition of ₹98,56,165 and held that the Assessing Officer (AO) failed to prove that the assessee was a mere name lender or that ...
![Revenue Failed to Establish Business Transactions as Non-Genuine: ITAT Deletes Addition on Fictitious Sundry Debtors [Read Order]](https://images.taxscan.in/h-upload/2025/12/28/500x300_2115458-revenue-business-transactions-itat-sundry-debtors-taxscan.webp "Revenue Failed to Establish Business Transactions as Non-Genuine: ITAT Deletes Addition on Fictitious Sundry Debtors [Read Order]")
Difference Between Purchase Price and FMV u/s 56(2)(viia) Requires Fresh Verification of Asset Realizable Value: ITAT Remits Matter [Read Order]
The Delhi Bench of the Income Tax AppellateTribunal (ITAT) set aside orders confirming additions under Section 56(2)(viia) and remitted the matter for de-novo adjudication and observed that the...
![Difference Between Purchase Price and FMV u/s 56(2)(viia) Requires Fresh Verification of Asset Realizable Value: ITAT Remits Matter [Read Order]](https://images.taxscan.in/h-upload/2025/12/28/500x300_2115455-purchase-price-fmv-fresh-verification-asset-realizable-value-itat-taxscan.webp "Difference Between Purchase Price and FMV u/s 56(2)(viia) Requires Fresh Verification of Asset Realizable Value: ITAT Remits Matter [Read Order]")
Urban Development Authority Entitled to S.11 Exemption: ITAT Rules Fees and Grants Not Commercial Receipts [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeals and held that the statutory fees and government grants received by the authority did not convert its...
![Urban Development Authority Entitled to S.11 Exemption: ITAT Rules Fees and Grants Not Commercial Receipts [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/500x300_2115333-urban-development-authority-entitled-to-s11-exemption-itat-rules-fees-and-grants-not-commercial-receipts-taxscan.webp "Urban Development Authority Entitled to S.11 Exemption: ITAT Rules Fees and Grants Not Commercial Receipts [Read Order]")