![‘8% profit on alleged WIP cannot be estimated as assessee is a developer’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-ITAT-on-WIP-profit-estimation-TAXSCAN.jpg "‘8% profit on alleged WIP cannot be estimated as assessee is a developer’: ITAT [Read Order]")
‘8% profit on alleged WIP cannot be estimated as assessee is a developer’: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the deletion of the addition on account of business income of Rs. 9.42 crore...
![Income Tax Annual Digest 2024: ITAT Cases [Part 31]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Annual-Digest-2024-ITAT-Cases-Income-Tax-Cases-Part-31-taxscan.jpg "Income Tax Annual Digest 2024: ITAT Cases [Part 31]")
![Income Tax Annual Digest 2024: ITAT Cases [Part 30]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-Annual-Digest-2024-ITAT-Cases-Part-30-taxscan.jpg "Income Tax Annual Digest 2024: ITAT Cases [Part 30]")
ITAT quashes Rs.6.99 Crore Presumptive Addition on Share Transfer due to lack of evidence [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the addition of Rs. 6.99 crore presumptive addition on share transfer due to lack of evidence. Here Revenue has appealed...
![ITAT quashes Rs.6.99 Crore Presumptive Addition on Share Transfer due to lack of evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Share-Transfer-ITAT-Presumptive-Addition-taxscan.jpg "ITAT quashes Rs.6.99 Crore Presumptive Addition on Share Transfer due to lack of evidence [Read Order]")
Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness Proven [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) ruled that Section 68 of Income Tax Act,1961 did not apply to Corporate Social Responsibility (CSR) funds received by the assessee and...
![Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness Proven [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/CSR-Funds-ITAT-Rules-ITAT-Ahmedabad-ITAT-Income-Tax-Act-Section-68-Corporate-Social-Responsibility-Income-Tax-Income-Tax-Appellate-Tribunal-taxscan.jpg "Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness Proven [Read Order]")
Con Banega Crorepati?! Incarcerated Sukesh Chandrashekhar writes to FM offering to pay Income Tax of ₹7,640 Crore
Alleged Conman Sukesh Chandrashekhar has come clean in a tell-all letter addressed to Finance Minister Nirmala Sitharaman, offering to pay income tax on his global income of ₹22,410 Crore acquired...
Addition of ₹20.44 Lakh as Unexplained Cash Deposits During Demonetization: ITAT Directs Fresh Adjudication [Read Order]
The Agra Bench of Income Tax Appellate Tribunal(ITAT) set aside the Commissioner of Income Tax(Appeals)[CIT(A)] order and directed for fresh adjudication regarding the addition of ₹20.44 lakh as...
![Addition of ₹20.44 Lakh as Unexplained Cash Deposits During Demonetization: ITAT Directs Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Unexplained-Cash-Deposits-ITAT-Commissioner-of-Income-Tax-Specified-Financial-Transactions-demonetization-period-demonetized-currency-Demonetization-SFT-Income-Tax-Returns-Taxscan.jpg "Addition of ₹20.44 Lakh as Unexplained Cash Deposits During Demonetization: ITAT Directs Fresh Adjudication [Read Order]")
AO cannot question Creditor's Creditworthiness When Books Clearly Reflect Source, Identity, and Repayment of Funds: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the Assessing Officer ( AO ) cannot question the creditworthiness of creditors when the assessee’s books of account and...
![AO cannot question Creditors Creditworthiness When Books Clearly Reflect Source, Identity, and Repayment of Funds: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "AO cannot question Creditors Creditworthiness When Books Clearly Reflect Source, Identity, and Repayment of Funds: ITAT [Read Order]")
Unexplained Investment in Shares not part of Reopening Reasons recorded by AO: ITAT deletes Additions towards Accommodation Entry [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Ahmedabad, recently delivered a judgment favoring Amey Pravinbhai Brahmbhatt in a case concerning unexplained investments not forming part of the reasons...
![Unexplained Investment in Shares not part of Reopening Reasons recorded by AO: ITAT deletes Additions towards Accommodation Entry [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Unexplained-Investment-Shares-not-part-Reopening-Reasons-recorded-AO-ITAT-towards-Accommodation-Entry-taxscan.jpg "Unexplained Investment in Shares not part of Reopening Reasons recorded by AO: ITAT deletes Additions towards Accommodation Entry [Read Order]")
ITAT Deletes Disallowance of Cash Payments u/s 40A(3), Upholds Claims of Rule 6DD Exemptions on Property Transactions [Read Order]
In a recent ruling, the Jaipur bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of ₹8.36 lakh made by the AO under Section 40A(3) of the Income Tax Act. The appeal was against...
![ITAT Deletes Disallowance of Cash Payments u/s 40A(3), Upholds Claims of Rule 6DD Exemptions on Property Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Deletes-Disallowance-of-Cash-Payments-Disallowance-of-Cash-Payments-Cash-Payments-Exemptions-on-Property-Transactions-Property-Transactions-taxscan.jpg "ITAT Deletes Disallowance of Cash Payments u/s 40A(3), Upholds Claims of Rule 6DD Exemptions on Property Transactions [Read Order]")