![₹51L Income Tax Addition u/s.56(2) by Arbitrary Rejection of Share Value Report to Tax Entire Share Premium and Capital: ITAT Orders Deletion [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Income-Tax-Addition-Share-Value-Report-Share-Premium-Capital-ITAT-Orders-taxscan.jpg "₹51L Income Tax Addition u/s.56(2) by Arbitrary Rejection of Share Value Report to Tax Entire Share Premium and Capital: ITAT Orders Deletion [Read Order]")
₹51L Income Tax Addition u/s.56(2) by Arbitrary Rejection of Share Value Report to Tax Entire Share Premium and Capital: ITAT Orders Deletion [Read Order]
The Jodhpur Bench of the Income Tax Appellate Tribunal (ITAT) recently ordered the deletion of an income tax addition of ₹51,00,000/-, observing that...
![Demonetization Cash Deposits: ITAT directs Fresh Assessment, Gives Assessee Opportunity to Submit Relevant Documents [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Chennai-Assessment-Demonetization-Cash-Deposits-Demonetization-taxscan.jpg "Demonetization Cash Deposits: ITAT directs Fresh Assessment, Gives Assessee Opportunity to Submit Relevant Documents [Read Order]")
![Incorrect Section Code No Grounds for Rejection: Mumbai ITAT Orders CIT(E) to Grant Final Approval u/s 80G [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Mumbai-ITAT-Orders-CITE-ITAT-Orders-Taxscan.jpg "Incorrect Section Code No Grounds for Rejection: Mumbai ITAT Orders CIT(E) to Grant Final Approval u/s 80G [Read Order]")
![ITAT allows Withdrawal of Appeal Due to Lack of Objection from Department [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Allows-Withdrawal-of-Appeal-Due-Withdrawal-of-Appeal-Due-Withdrawal-of-Appeal-Lack-of-Objection-from-Department-Lack-of-Objection-taxscan.jpg "ITAT allows Withdrawal of Appeal Due to Lack of Objection from Department [Read Order]")
![ITAT Sets Aside CIT(A) Order for Non-Consideration of Merits and Non-Exemption of Advance Tax Payment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Kolkata-Income-Tax-Appellate-Tribunal-CITA-TAXSCAN.jpg "ITAT Sets Aside CIT(A) Order for Non-Consideration of Merits and Non-Exemption of Advance Tax Payment [Read Order]")
![Supreme Court Grants One Week Time to News Click Against Income Tax Demands [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2025/02/Supreme-Court-Income-Tax-Demand-Supreme-Court-grants-relief-to-News-Click-TAXSCAN.jpg "Supreme Court Grants One Week Time to News Click Against Income Tax Demands [Read Judgment]")
ITAT Allows Assessee to Withdraw Appeal, with Option to Revoke if Vivad Se Vishwas Scheme is Unsuccessful [Read Order]
The Income Tax Appellate Tribunal (ITAT) Bangalore SMC-‘C’ Bench has allowed the withdrawal of an appeal filed by appellant for the Assessment Year 2008-09. The tribunal permitted the withdrawal...
![ITAT Allows Assessee to Withdraw Appeal, with Option to Revoke if Vivad Se Vishwas Scheme is Unsuccessful [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Bangalore-Vivad-Se-Vishwas-Scheme-TAXSCAN.jpg "ITAT Allows Assessee to Withdraw Appeal, with Option to Revoke if Vivad Se Vishwas Scheme is Unsuccessful [Read Order]")
![Supreme Court & High Courts Weekly Round-up [Feb 15th to Feb 21st,2025]](https://www.taxscan.in/wp-content/uploads/2025/02/Supreme-court-High-court-Judgments-Supreme-court-tax-judgments-high-court-case-updates-TAXSCAN.jpg "Supreme Court & High Courts Weekly Round-up [Feb 15th to Feb 21st,2025]")
No Interference with Trading Results and Gross Profits if Proof of Sales, Purchases, Quantity, Delivery, and Payment are Provided: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) while adjudicating a issue pertaining to additions based on alleged bogus purchases ruled that the trading results and gross profits...
![No Interference with Trading Results and Gross Profits if Proof of Sales, Purchases, Quantity, Delivery, and Payment are Provided: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Mumbai-Trading-Results-Taxscan-.jpg "No Interference with Trading Results and Gross Profits if Proof of Sales, Purchases, Quantity, Delivery, and Payment are Provided: ITAT [Read Order]")
ITAT Directs Inclusion of Magma Advisory Services as Comparable, Rejects Exclusion Based on Negative Cash Flow [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal(ITAT) directed the inclusion of Magma Advisory Services Ltd. as a comparable, rejecting its exclusion based on negative cash flow. Honda R & D...
![ITAT Directs Inclusion of Magma Advisory Services as Comparable, Rejects Exclusion Based on Negative Cash Flow [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-site-img-4.jpg "ITAT Directs Inclusion of Magma Advisory Services as Comparable, Rejects Exclusion Based on Negative Cash Flow [Read Order]")
![ITAT Sets Aside PCITs Revision, Upholds Deduction u/s 10AA Due to Proper AO Review [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Sets-Aside-PCITs-Revision-PCITs-Revision-PCITs-Upholds-Deduction-Section-10AA-Due-to-Proper-AO-Review-AO-Review-taxscan.jpg "ITAT Sets Aside PCITs Revision, Upholds Deduction u/s 10AA Due to Proper AO Review [Read Order]")
![Neither CIT(A) Nor AO Accurately Computed Taxpayers Income: ITAT Remands Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-12.jpg "Neither CIT(A) Nor AO Accurately Computed Taxpayers Income: ITAT Remands Matter [Read Order]")