![ITAT Restores Case to AO for Fresh Assessment on Carry Forward of Losses and Unabsorbed Depreciation, Citing Incomplete Evaluation of Merger Impact [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Tax-Assessment-Carry-Forward-of-Losses-taxscan.jpg "ITAT Restores Case to AO for Fresh Assessment on Carry Forward of Losses and Unabsorbed Depreciation, Citing Incomplete Evaluation of Merger Impact [Read Order]")
ITAT Restores Case to AO for Fresh Assessment on Carry Forward of Losses and Unabsorbed Depreciation, Citing Incomplete Evaluation of Merger Impact [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) restores the case to the Assessing Officer ( AO ) for fresh assessment on the carry...
![AO issued Penalty Notice without Specifying Offense of Concealment or Inaccurate Particulars as Mandated u/s 271(1)(c): ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Offense-of-Concealment-AO-Issued-ITAT-Quashes-Order-ITAT-Kolkata-Inaccurate-Particulars-Quashes-Order-Penalty-Notice-Issued-Penalty-taxscan.jpg "AO issued Penalty Notice without Specifying Offense of Concealment or Inaccurate Particulars as Mandated u/s 271(1)(c): ITAT quashes Order [Read Order]")
![Unexplained Income from Rigged Stock Trades: ITAT upholds Rs. 44L Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Surat-Unexplained-Income-Rigged-Stock-Trades-Income-Tax-Appellate-Tribunal-Section-68-of-Income-Tax-Act-Income-Tax-taxscan.jpg "Unexplained Income from Rigged Stock Trades: ITAT upholds Rs. 44L Addition [Read Order]")
![Denial of Fair Hearing Opportunity to Assessee: ITAT deletes Income Tax Addition u/s 69C [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Ahmedabad-ITAT-deletes-Income-Tax-Income-Tax-Section-69C-Denial-of-Fair-Hearing-Opportunity-taxscan.jpg "Denial of Fair Hearing Opportunity to Assessee: ITAT deletes Income Tax Addition u/s 69C [Read Order]")
ITAT sets aside Income Tax Addition due to lack of proper persuasion before Authorities, directs Re examination of Egg Traders Account [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) held that the additions made by the Assessing Officer ( AO ) cannot be sustained due to lack of proper persuasion by the appellant before...
![ITAT sets aside Income Tax Addition due to lack of proper persuasion before Authorities, directs Re examination of Egg Traders Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-Income-Tax-Addition-lack-of-proper-persuasion-Authorities-Re-examination-Egg-Traders-Account-taxscan.jpg "ITAT sets aside Income Tax Addition due to lack of proper persuasion before Authorities, directs Re examination of Egg Traders Account [Read Order]")
ITAT deletes Rs. 19.6 Lakh Addition for AY 2018-19, applying Retrospective 10% Safe Harbour Limit based on Curative Amendment [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the ₹19.6 lakh addition made for AY 2018-19 under Section 56(2)(x)(b) of the Income Tax Act,1961 applying the retrospective 10%...
![ITAT deletes Rs. 19.6 Lakh Addition for AY 2018-19, applying Retrospective 10% Safe Harbour Limit based on Curative Amendment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-AY-2018-Retrospective-Safe-Harbour-Curative-Amendment-taxscan.jpg "ITAT deletes Rs. 19.6 Lakh Addition for AY 2018-19, applying Retrospective 10% Safe Harbour Limit based on Curative Amendment [Read Order]")
ITAT deletes Rs. 38.18 Lakh Disallowance u/s 37, Cites Lack of Evidence for Cash Expenses and Small Impact on Turnover [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the disallowance of Rs.38,18,487,holding that the assessing officer incorrectly applied Section 37 of the Income Tax Act,1961,to...
![ITAT deletes Rs. 38.18 Lakh Disallowance u/s 37, Cites Lack of Evidence for Cash Expenses and Small Impact on Turnover [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-deletes-Disallowance-Cites-Lack-of-Evidence-Cash-Expenses-Small-Impact-Turnover-taxscan.jpg "ITAT deletes Rs. 38.18 Lakh Disallowance u/s 37, Cites Lack of Evidence for Cash Expenses and Small Impact on Turnover [Read Order]")
Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]
In a recent ruling, the Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that reassessment under section 147 of the Income Tax Act was valid on reopening already closed assessment. The...
![Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Section-147-153C-of-Income-Tax-Applied-Interchangeably-ITAT-Reassessment-Bogus-Purchase-Matter-taxscan.jpg "Section 147 and 153C of Income Tax can be Applied Interchangeably: ITAT upholds Reassessment u/s 147 in Bogus Purchase Matter [Read Order]")
Delay in Income Tax Filing due to Technical Defect Condonable: ITAT rants S. 115BAA Benefits [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) granted benefits under Section 115BAA of the Income Tax Act, 1961 explaining that Income Tax filing delay caused by technical default...
![Delay in Income Tax Filing due to Technical Defect Condonable: ITAT rants S. 115BAA Benefits [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delay-in-Income-Tax-Filing-Technical-Defect-Condonable-ITAT-Benefits-taxscan.jpg "Delay in Income Tax Filing due to Technical Defect Condonable: ITAT rants S. 115BAA Benefits [Read Order]")
![ITAT Allows Rs.2.44 Lakh Cost of Improvement as Deductible Expense for Capital Gains Deduction [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Ahmedabad-Capital-Gains-Deduction-Capital-Gains-Deductible-Expense-Deductible-Expense-for-Capital-Gains-Deduction-taxscan.jpg "ITAT Allows Rs.2.44 Lakh Cost of Improvement as Deductible Expense for Capital Gains Deduction [Read Order]")
ITAT Remands Case to CIT(A) for Fresh Consideration, Imposes Cost of Rs. 10,000 on Assessee for Non-Compliance with Notices [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case to Commissioner of Income Tax(Appeals)[CIT(A)] for fresh consideration and imposed a cost of Rs.10,000 on the assessee...
![ITAT Remands Case to CIT(A) for Fresh Consideration, Imposes Cost of Rs. 10,000 on Assessee for Non-Compliance with Notices [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Appeal-income-tax-taxscan.jpg "ITAT Remands Case to CIT(A) for Fresh Consideration, Imposes Cost of Rs. 10,000 on Assessee for Non-Compliance with Notices [Read Order]")