![Depreciation On Goodwill allowable Where Excess Consideration Paid For Business Acquisition: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125106-itat-held-that-surplus-consideration-over-asset-value-represents-goodwill-eligible-depreciation-income-tax-act-taxscan.webp "Depreciation On Goodwill allowable Where Excess Consideration Paid For Business Acquisition: ITAT [Read Order]")
Depreciation On Goodwill allowable Where Excess Consideration Paid For Business Acquisition: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that depreciation can be claimed on the goodwill that arises as a result of a ...
![Unsecured Loans Amounting to Rs. 6 Cr from Unreliable Companies in Dispute: ITAT Rejects Appeal Following AOs Remand Report [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125098-unsecured-loans-amounting-unreliable-companies.webp "Unsecured Loans Amounting to Rs. 6 Cr from Unreliable Companies in Dispute: ITAT Rejects Appeal Following AOs Remand Report [Read Order]")
![ITAT Upholds 6% Profit Estimation on Alleged Bogus Diamond Purchases, Dismisses Cross Appeals [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125101-itat-upholds-profit-estimation-alleged-bogus-diamond-purchases-dismisses-cross-appeals-taxscan.webp "ITAT Upholds 6% Profit Estimation on Alleged Bogus Diamond Purchases, Dismisses Cross Appeals [Read Order]")
![lTAT Grants Relief to Tata AIG on Co-Insurance Fees, Employee Bonus Write-Back and Dividend Exemption [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125090-ltat-grants-relief-tata-aig-co-insurance-fees-employee-bonus-write-back-dividend-exemption-taxscan.webp "lTAT Grants Relief to Tata AIG on Co-Insurance Fees, Employee Bonus Write-Back and Dividend Exemption [Read Order]")
![ITAT Quashes Reopening of Assessment against WBEIDC, Holds it was Based on Mere Change of Opinion [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125083-itat-quashes-reopening-assessment-against-wbeidc-holds-based-mere-change-opinion-taxscan.webp "ITAT Quashes Reopening of Assessment against WBEIDC, Holds it was Based on Mere Change of Opinion [Read Order]")
Interest u/s 220(2) Unsustainable Where Income Tax Demand Arose Only Through Subsequent Rectification Order: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that interest under Section 220(2) of the Income Tax Act, 1961 cannot be levied for a period during which no enforceable income...
![Interest u/s 220(2) Unsustainable Where Income Tax Demand Arose Only Through Subsequent Rectification Order: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125073-interest-unsustainable-income-tax-demand-arose.webp "Interest u/s 220(2) Unsustainable Where Income Tax Demand Arose Only Through Subsequent Rectification Order: ITAT [Read Order]")
Once Exercised, Section 115BAB Option Applies to Subsequent Years: ITAT Allows 15% Concessional Tax Rate [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has held that once a manufacturing company validly exercises the option for concessional taxation under Section 115BAB of the Income Tax Act,...
![Once Exercised, Section 115BAB Option Applies to Subsequent Years: ITAT Allows 15% Concessional Tax Rate [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125081-section-115bab-option-applies-subsequent-itat-allows-concessional-tax-rate-taxscan.webp "Once Exercised, Section 115BAB Option Applies to Subsequent Years: ITAT Allows 15% Concessional Tax Rate [Read Order]")
‘Cast Iron’ Documentary Evidence of Identity and Banking Flow Discharges Onus: Calcutta HC Upholds ITAT Deletion u/s 68 [Read Order]
The Calcutta High Court has dismissed the Revenue’s appeal challenging the deletion of an addition of Rs. 7,26,50,000/- made under Section 68 of the Income Tax Act, 1961 on account of unexplained ...
![‘Cast Iron’ Documentary Evidence of Identity and Banking Flow Discharges Onus: Calcutta HC Upholds ITAT Deletion u/s 68 [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125080-cast-iron-documentary-evidence-calcutta-hc-itat-taxscan.webp "‘Cast Iron’ Documentary Evidence of Identity and Banking Flow Discharges Onus: Calcutta HC Upholds ITAT Deletion u/s 68 [Read Order]")
No Seized Documents Supporting Findings of AO: ITAT Mumbai Deletes Estimated Additions on alleged [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has deleted additions made on account of alleged accommodation entries and circular trading, holding that no further income could be...
![No Seized Documents Supporting Findings of AO: ITAT Mumbai Deletes Estimated Additions on alleged [Read Order]](https://images.taxscan.in/h-upload/2026/02/14/2125075-no-seized-documents-supporting-findings-ao-itat-mumbai-estimated-bogus-transactions-taxscan.webp "No Seized Documents Supporting Findings of AO: ITAT Mumbai Deletes Estimated Additions on alleged [Read Order]")
Reply Missed due to Income Tax Notices Served to Mail ID of Old Employee: Karnataka HC Gives Taxpayer Second Chance Conditionally [Read Order]
The Karnataka High Court has granted a taxpayer a fresh opportunity to contest reassessment proceedings after finding that income tax notices and show cause communications were sent only to the email...
![Reply Missed due to Income Tax Notices Served to Mail ID of Old Employee: Karnataka HC Gives Taxpayer Second Chance Conditionally [Read Order]](https://images.taxscan.in/h-upload/2026/02/12/2124817-reply-missed-income-tax-notices-served-mail-id-old-employee-karnataka-hc.webp "Reply Missed due to Income Tax Notices Served to Mail ID of Old Employee: Karnataka HC Gives Taxpayer Second Chance Conditionally [Read Order]")
Final Assessment Orders Passed u/s 144C(13) r.w.s. 153 are Without Jurisdiction: ITAT Quashes Proceedings following Judicial Precedent [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal has quashed the final assessment orders for Assessment Years 2010-11 and 2011-12 on the ground that they were barred by limitation under Section ...
![Final Assessment Orders Passed u/s 144C(13) r.w.s. 153 are Without Jurisdiction: ITAT Quashes Proceedings following Judicial Precedent [Read Order]](https://images.taxscan.in/h-upload/2026/02/12/2124796-final-assessment-orders-jurisdiction-itat-quashes-proceedings-following-judicial-precedent-taxscan.webp "Final Assessment Orders Passed u/s 144C(13) r.w.s. 153 are Without Jurisdiction: ITAT Quashes Proceedings following Judicial Precedent [Read Order]")
Penalty to be Levied on Tax Amount Sought to be Evaded: ITAT Reduces Penalty u/s 271(1)(c) After Adjusting TDS and Self-Assessment Tax [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that while penalty under Section 271(1)(c) of the Income Tax Act, 1961 was rightly leviable in a case of non-filing of return, the...
![Penalty to be Levied on Tax Amount Sought to be Evaded: ITAT Reduces Penalty u/s 271(1)(c) After Adjusting TDS and Self-Assessment Tax [Read Order]](https://images.taxscan.in/h-upload/2026/02/11/2124665-penalty-levied-tax-amount-sought-evaded-itat-reduces-penalty.webp "Penalty to be Levied on Tax Amount Sought to be Evaded: ITAT Reduces Penalty u/s 271(1)(c) After Adjusting TDS and Self-Assessment Tax [Read Order]")