![Revenue Challenges ₹2.41 Crore Deletion by CIT(A): ITAT Confirms Stamp Paper Purchases for Customer as Source, Dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Revenue-Challenges-Deletion-by-CITA-CITA-ITAT-ITAT-Confirms-Stamp-Paper-Purchases-Stamp-Paper-Stamp-Paper-Purchases-Customer-as-Source-taxscan.jpg "Revenue Challenges ₹2.41 Crore Deletion by CIT(A): ITAT Confirms Stamp Paper Purchases for Customer as Source, Dismisses Appeal [Read Order]")
Revenue Challenges ₹2.41 Crore Deletion by CIT(A): ITAT Confirms Stamp Paper Purchases for Customer as Source, Dismisses Appeal [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) confirmed the deletion of Rs. 2.41 crore by asserting the Stamp Paper purchases as the...
![Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Stock-Record-Stock-Record-Discrepancies-ITAT-ITAT-restricts-Profit-Estimation-Purchase-Transactions-Petroleum-Petroleum-Firm-taxscan.jpg "Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]")
![Creditors Written Off and Discount Receipts Linked to Business Income Taxable at Only 8% of Their Value: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Chennai-Business-Income-Taxsacan.jpg "Creditors Written Off and Discount Receipts Linked to Business Income Taxable at Only 8% of Their Value: ITAT [Read Order]")
![ITAT Provides Relief in ₹118 Lakhs Cash Deposit Case: Lowers Income Estimation to 2% Margin for Ticket Agent [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/TAT-Chennai-income-tax-Income-tax-news-ITAT-Provides-Relief-Taxscan.jpg "ITAT Provides Relief in ₹118 Lakhs Cash Deposit Case: Lowers Income Estimation to 2% Margin for Ticket Agent [Read Order]")
![Delay in Filing Appeal Due to Multiple PANs: ITAT Restores Case to AO for Fresh Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Kolkata-Filing-Appeal-Multiple-PAN-cards-AO-for-Fresh-Hearing-Income-Tax-Appellate-Tribunal-Income-Tax-taxscan.jpg "Delay in Filing Appeal Due to Multiple PANs: ITAT Restores Case to AO for Fresh Hearing [Read Order]")
![Unexplained Cash Deposit of ₹6.5 Lakh during Demonetization: ITAT Remands Case for fresh [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Demonetization-Unexplained-Cash-Deposit-ITAT-Remands-Case-taxscan.jpg "Unexplained Cash Deposit of ₹6.5 Lakh during Demonetization: ITAT Remands Case for fresh [Read Order]")
CIT(A) Ignored CBDT Relief for Delayed ITR Filing: ITAT Remands Matter Back for Order Rectification [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter back to CIT(A) for rectification order citing a circular of the Central Board of Direct Taxes (CBDT) which granted relief...
![CIT(A) Ignored CBDT Relief for Delayed ITR Filing: ITAT Remands Matter Back for Order Rectification [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Chennai-Bench-of-Income-Tax-Appellate-Tribunal-Central-Board-of-Direct-Taxes-CIT-CBDT-Relief-for-Delayed-ITR-Filing-ITR-Filing-ITAT-Remands-Matter-CBDT-CPC-return-of-income-and-audit-report-ITR-Taxscan.jpg "CIT(A) Ignored CBDT Relief for Delayed ITR Filing: ITAT Remands Matter Back for Order Rectification [Read Order]")
Deduction u/s 54F Allowable for Property Purchased in Wife's Name: ITAT Directs AO to Approve [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) directed the assessing officer (AO) to approve the deduction under section 54F of the Income Tax Act for the property purchased in the wife’s...
![Deduction u/s 54F Allowable for Property Purchased in Wifes Name: ITAT Directs AO to Approve [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Directs-AO-ITAT-Directs-ITR-CIT-Delhi-High-Court-under-section-54F-of-the-Income-Tax-Act-immovable-property-AO-Taxscan.jpg "Deduction u/s 54F Allowable for Property Purchased in Wifes Name: ITAT Directs AO to Approve [Read Order]")
Procedural Lapse in ₹14.6 Cr Income Tax Dispute: ITAT directs Reassessment for NRI Taxpayer [Read Order]
In a recent ruling, the Bangalore bench of the Income Tax Appellate Tribunal (ITAT) remanded the case back to the assessing officer (AO) in an appeal around the addition of ₹1.46 Cr, made on alleged...
![Procedural Lapse in ₹14.6 Cr Income Tax Dispute: ITAT directs Reassessment for NRI Taxpayer [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/NRI-Reassessment-for-NRI-Taxpayer-Procedural-Lapse-taxscan.jpg "Procedural Lapse in ₹14.6 Cr Income Tax Dispute: ITAT directs Reassessment for NRI Taxpayer [Read Order]")
Genuineness of ₹2.06 Crore Share Capital Received: ITAT Upholds CIT(A) Decision, Deletes Addition u/s 68 [Read Order]
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Commissioner of Income Tax(Appeals)[CIT(A)] decision, confirming the genuineness of ₹2.06 crore share capital received, and...
![Genuineness of ₹2.06 Crore Share Capital Received: ITAT Upholds CIT(A) Decision, Deletes Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Genuineness-Share-Capital-Share-Capital-Received-ITAT-ITAT-Upholds-CITA-Decision-CITA-Deletes-Addition-taxscan.jpg "Genuineness of ₹2.06 Crore Share Capital Received: ITAT Upholds CIT(A) Decision, Deletes Addition u/s 68 [Read Order]")
![ITAT quashes Penalty under Section 271(1)(c), Directs AO to reconsider Quantum Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Agra-Income-Tax-Appellate-Tribunal-Section-2711c-of-ITA-TAXSCAN.jpg "ITAT quashes Penalty under Section 271(1)(c), Directs AO to reconsider Quantum Addition [Read Order]")
ITAT Rules in favor of Assessee, Citing benefit of Doubt in Fraudulent Activity Case [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) has given a significant reprieve to an assessee who had been accused of making unexplained cash deposits. The ITAT has remanded the case...
![ITAT Rules in favor of Assessee, Citing benefit of Doubt in Fraudulent Activity Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Income-Tax-Appellate-Tribunal-Fraudulent-Activity-Case-ITAT-fraudulent-activity-2025-TAXSCAN.jpg "ITAT Rules in favor of Assessee, Citing benefit of Doubt in Fraudulent Activity Case [Read Order]")