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ITAT sets aside addition of Rs.10 lakhs u/s 69A as Unexplained Cash Deposits During Demonetization [Read Order]

The Raipur bench of the Income Tax Appellate Tribunal (ITAT) sets aside the addition of Rs. 10 lakhs under Section 69A of the Income Tax Act, 1961,...

Assessee opts for Vivad se Vishwas Scheme: ITAT allows assessee to withdraw appeal [Read Order]

AO adds Unexplained Investment During Demonetization: ITAT Rules Addition Based on Suspicion Cannot...

Kerala HC sets aside Direction to Pay 20% Assessed Income Tax Considering the stay...

ITAT Grants Infrasoft S. 10A Exemption Citing Unit Was Not Converted Export Unit but Newly...

ITAT Directs AO to Delete Rs. 41.47 Lakh Addition for Unexplained Property Investment After Verifying Source of Funds [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) directed the Assessing Officer (AO) to delete the addition of Rs. 41.47 lakh for unexplained property investment after verifying the source of...

Disallowance should not Exceed the Amount of Exempt income: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance should not exceed the amount of exempt income. The assessee, Ambuja Neotia Hotel Ventures, had appealed...

Gross Profit Rate Increase: ITAT Upholds CIT(A)'s Reduction from ₹1.01 Cr to ₹10.21 Lakh [Read Order]

The Lucknow Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals) CIT(A)’s decision to reduce the gross profit addition from ₹1.01 crore to ₹10.21 lakh. The...

Addition of ₹1.22 Crore for Cash Deposits During Demonetization: ITAT Upholds CIT(A)’s Deletion [Read Order]

The Lucknow Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]’s deletion of the ₹1.22 crore addition made under Section 68 of Income Tax Act,1961 for...

Validity of Reassessment Based on AIR Information: ITAT Confirms AO's Decision [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the decision of the Assessing Officer (AO) regarding the validity of the reassessment based on Annual Information Return(AIR)...

ITAT Directs AO to Consider Fresh Evidence in Unexplained Expenditure Addition u/s 69C [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer (AO) to consider fresh evidence in the unexplained expenditure addition under section 69C of the Income...

Notional Rental value of unsold flat not Taxable under House Property Head: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the notional rental value of unsold flat cannot be taxable under house property head. The assessee, Ambuja Neotia Hotel...

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