Latest Income Tax News, Updates & Judgments

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Unexplained Cash Credit Addition of Rs. 1.36 Crore u/s 69A: ITAT Upholds CIT(A) Decision to Delete Addition [Read Order]

The Lucknow Bench of Income Tax Appellate Tribunal(ITAT) upheld the decision of the Commissioner of Income Tax(Appeals)[CIT(A)] to delete an...

Unexplained Income Addition of ₹5.78 Lakh: ITAT Orders AO to Delete Addition Based on Past Savings...

Failure to File Return and Pay Tax: ITAT Remands Case to CIT(A) [Read Order]

Disallowance for Non-Deduction of TDS on Reimbursements: ITAT Rules It Unjustified Due to Tax...

Denial of video conferencing without Justification: ITAT sets aside NFAC Order [Read Order]

Interconnect Charges not Subject to Tax as Royalty: ITAT [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal(ITAT)The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) ruled that interconnect charges are not taxable as royalty. The...

Setback to AAI: ITAT Directs Recalculation of Exempt Income Disallowance u/r 8D at 1%, Rejecting Sufficient Interest-Free Funds Claim [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) directed the recalculation of exempt income disallowance under Rule 8D at 1%, rejecting the Airport Authority of India (AAI)’s claim of...

Lack of Specific FCRA Violation Details u/s S.12AB: ITAT quashes Registration Rejection Order [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal (ITAT) quashed the rejection order of the Commissioner of Income Tax (Exemption) [CIT(E)] citing that the order lacked specific details of violation...

Marketing Expenses are Revenue Expenditure u/s 37 of Income Tax Act: ITAT deletes ₹2.16 Cr Disallowance [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) bench recently ruled that marketing expenses can be considered revenue per Section 37 of the Income Tax Act. The assessee, ARI...

Relief for Air India: ITAT directs Use of Average Value u/r 8D for Accurate Investment Calculation, Replacing AO's Market Value Approach [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) granted relief for Air India by directing the Assessing Officer (AO) to use the Average Value of Investment to recalculate disallowance under...

₹44 Lakh Difference in Agricultural Income Calculation: ITAT calls on Income Tax Department to examine Assessee’s Generation Operations [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad recently directed the Income Tax Department to re-examine the agricultural operations of Sanjay Jayantibhai Patel, whose declared agricultural...

ITAT Dismisses Appeal after Assessee Opts for Settlement under Vivad Se Vishwas Scheme 2024 [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) bench at Kolkata dismissed the appeal filed by the assessee as the bench observed that the assessee had opted for Settlement Under Vivad Se Vishwas Scheme...

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