![Penny Stock Transactions Found Genuine: ITAT Deletes ₹1 Cr Addition Relying on SEBI Report and Sister Case Precedent [Read Order]](https://images.taxscan.in/h-upload/2025/07/18/2064911-site-img18-2.webp "Penny Stock Transactions Found Genuine: ITAT Deletes ₹1 Cr Addition Relying on SEBI Report and Sister Case Precedent [Read Order]")
Penny Stock Transactions Found Genuine: ITAT Deletes ₹1 Cr Addition Relying on SEBI Report and Sister Case Precedent [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) deleted additions under Sections 68 and 69C in a case involving penny stock...
![ITAT restores appeal to CIT(A) over property valuation, Citing assessees inability to access Notice Through emails [Read Order]](https://images.taxscan.in/h-upload/2025/07/17/2064737-emails-property-valuation-cita-taxscan.webp "ITAT restores appeal to CIT(A) over property valuation, Citing assessees inability to access Notice Through emails [Read Order]")
![CIT(A) cannot Reject Additional evidence u/r 46 A of Income Tax Rules against unexplained Investment Merely because of non-furnishing before AO: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/07/17/2064739-cita-cita-cannot-reject-additional-evidence-evidence-section-46-a-of-income-tax-rules-taxscan.webp "CIT(A) cannot Reject Additional evidence u/r 46 A of Income Tax Rules against unexplained Investment Merely because of non-furnishing before AO: ITAT [Read Order]")
![CBDT Grants Income Tax Exemption to Baddi Barotiwala Nalagarh Development Authority [Read Notification]](https://images.taxscan.in/h-upload/2025/07/15/2064134-income-tax-exemption-development-authority-income-tax-taxscan.webp "CBDT Grants Income Tax Exemption to Baddi Barotiwala Nalagarh Development Authority [Read Notification]")
Circular Transactions could be added Substantively Only Once: ITAT quashes Income Tax Demand [Read Order]
The Income Tax Appellate Tribunal (ITAT), ITAT Chennai Bench, has delivered a significant verdict in the case of Shri Tharanipathy Rajkumar relating to Assessment Year 2017-18, ruling that circular...
![Circular Transactions could be added Substantively Only Once: ITAT quashes Income Tax Demand [Read Order]](https://images.taxscan.in/h-upload/2025/07/14/2063787-itat-chennai-income-tax-demand-circular-transactions-taxscan.webp "Circular Transactions could be added Substantively Only Once: ITAT quashes Income Tax Demand [Read Order]")
Assessee could not Produce Evidence before Tribunal due to Judicial Custody: ITAT sets aside Addition of Bank Credits to Income Tax [Read Order]
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has set aside additions made on account of cash deposits and bank credits for Assessment Years (AY) 2019–20 and 2020–21, noting that...
![Assessee could not Produce Evidence before Tribunal due to Judicial Custody: ITAT sets aside Addition of Bank Credits to Income Tax [Read Order]](https://images.taxscan.in/h-upload/2025/07/16/2064490-assessee-could-not-produce-evidence-produce-evidence-evidence-produce-evidence-before-tribunal-due-taxscan.webp "Assessee could not Produce Evidence before Tribunal due to Judicial Custody: ITAT sets aside Addition of Bank Credits to Income Tax [Read Order]")
Additions u/s 153A for Unabated Years Set Aside in Absence of Incriminating Material: ITAT Remands as Assessee was under Judicial Custody [Read Order]
The ITAT Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has set aside additions made under Section 153A of the Income Tax Act, 1961 for Assessment Years (AYs) 2017-18 and 2018-19,...
![Additions u/s 153A for Unabated Years Set Aside in Absence of Incriminating Material: ITAT Remands as Assessee was under Judicial Custody [Read Order]](https://images.taxscan.in/h-upload/2025/07/16/2064489-judicial-custody-incriminating-material-itat-remands-taxscan.webp "Additions u/s 153A for Unabated Years Set Aside in Absence of Incriminating Material: ITAT Remands as Assessee was under Judicial Custody [Read Order]")
ITAT Allows Genpact to Exclude Telecom and Training Receipts from Total Turnover u/s 10AA as They Are Already Excluded from Export Turnover [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) allowed Genpact to exclude telecommunication expenses and recovery receipts for migration and on-the-job training from total turnover under...
![ITAT Allows Genpact to Exclude Telecom and Training Receipts from Total Turnover u/s 10AA as They Are Already Excluded from Export Turnover [Read Order]](https://images.taxscan.in/h-upload/2025/07/16/2064467-itat-itat-allows-genpact-to-exclude-telecom-and-training-receipts-telecom-and-training-receipts-taxscan.webp "ITAT Allows Genpact to Exclude Telecom and Training Receipts from Total Turnover u/s 10AA as They Are Already Excluded from Export Turnover [Read Order]")
![Relief for Genpact: ITAT Allows S.10AA Deduction on Interest from FDs and Staff Loans [Read Order]](https://images.taxscan.in/h-upload/2025/07/16/2064441-relief-for-genpact-genpact-itat-itat-allows-s10aa-deduction-on-interest-deduction-on-interest-taxscan.webp "Relief for Genpact: ITAT Allows S.10AA Deduction on Interest from FDs and Staff Loans [Read Order]")
Appeal Against Interim Order Granting Custody of Cash to Assessee Fails After Cash Release: Kerala HC Dismisses Income Tax Dept’s Appeal [Read Order]
The Kerala High Court dismissed the Income Tax department’s appeal, holding that a challenge against an order granting interim custody of cash to the assessee does not survive after the release of...
![Appeal Against Interim Order Granting Custody of Cash to Assessee Fails After Cash Release: Kerala HC Dismisses Income Tax Dept’s Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/07/17/2064605-kerala-hc-income-tax.webp "Appeal Against Interim Order Granting Custody of Cash to Assessee Fails After Cash Release: Kerala HC Dismisses Income Tax Dept’s Appeal [Read Order]")