![Undervaluation of Closing Stock: ITAT upholds CIT(A)s decision to delete Rs. 2.92 Crore addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Undervaluation-of-Closing-Stock-Income-Tax-Act-taxscan.jpg "Undervaluation of Closing Stock: ITAT upholds CIT(A)s decision to delete Rs. 2.92 Crore addition [Read Order]")
Undervaluation of Closing Stock: ITAT upholds CIT(A)'s decision to delete Rs. 2.92 Crore addition [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s decision to delete the addition...
![Disallowance of ₹16.84 Lakhs as LC Discounting Charges u/s 36(1)(iii): ITAT Finds Addition Unjustified [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-LC-Discounting-Charges-Section-361iii-of-Income-Tax-Act-Disallowance-of-money-taxscan.jpg "Disallowance of ₹16.84 Lakhs as LC Discounting Charges u/s 36(1)(iii): ITAT Finds Addition Unjustified [Read Order]")
![ITAT Remands Rs. 1473.8 Crore Unexplained Money Addition for Fresh Assessment, due to Lack of Fair Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Unexplained-Money-Fresh-Assessment-Lack-of-Fair-Hearing-Tax-Dispute-Remand-Income-Tax-Reassessment-Fair-Hearing-ITAT-Delhi-taxscan.jpg "ITAT Remands Rs. 1473.8 Crore Unexplained Money Addition for Fresh Assessment, due to Lack of Fair Hearing [Read Order]")
![Supreme Court & High Courts Weekly Round-up [Jan 18th to Jan 24th,2025]](https://www.taxscan.in/wp-content/uploads/2025/01/Supreme-Court-High-Courts-Weekly-Round-up-Supreme-Court-High-Courts-Supreme-Court-High-Courts-Weekly-Round-up-Weekly-round-Up-in-2025-taxscan.jpg "Supreme Court & High Courts Weekly Round-up [Jan 18th to Jan 24th,2025]")
![Verification of Cash Deposits as Trust Income: ITAT Remands Matter to AO [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Mumbai-Income-Tax-News-Verification-of-Cash-Deposits-Taxscan.jpg "Verification of Cash Deposits as Trust Income: ITAT Remands Matter to AO [Read Order]")
[Breaking] S. 87A Rebate Update: Bombay HC Rules Rebate Applies to Total Tax, Including Special Rates Unless Explicitly Excluded [Read Order]
In a recent ruling, the Bombay High Court ruled that the rebate under Section 87A of the Income Tax Act, 1961, applies to the total tax liability of eligible taxpayers, including tax on income...
![[Breaking] S. 87A Rebate Update: Bombay HC Rules Rebate Applies to Total Tax, Including Special Rates Unless Explicitly Excluded [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Rebate-Update-Bombay-HC-Rebate-Applies-Total-Tax-Including-Special-Rates-Unless-Explicitly-Excluded-taxscan.jpg "[Breaking] S. 87A Rebate Update: Bombay HC Rules Rebate Applies to Total Tax, Including Special Rates Unless Explicitly Excluded [Read Order]")
![Unexplained Cash Credits of Rs. 12.83 Crores Added u/s 68: ITAT Upholds CIT(A)s Deletion [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Mumbai-Income-Tax-Appellate-Tribunal-Unexplained-Cash-Credits-CITA-Commissioner-of-Income-TaxAppeals-taxscan.jpg "Unexplained Cash Credits of Rs. 12.83 Crores Added u/s 68: ITAT Upholds CIT(A)s Deletion [Read Order]")
Rejection of Trust Registration Due to Non-Submission of Required Documents: ITAT Restores Matter to CIT(E) [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) restored the matter to the Commissioner of Income Tax(Exemption)[CIT(E)] after rejecting the trust registration application under Section 12AB...
![Rejection of Trust Registration Due to Non-Submission of Required Documents: ITAT Restores Matter to CIT(E) [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/itat-itat-mumbai-Trust-Registration-Taxscan.jpg "Rejection of Trust Registration Due to Non-Submission of Required Documents: ITAT Restores Matter to CIT(E) [Read Order]")
ITAT upholds CIT(A) Order Deleting ₹12.92 Crore Income Tax Addition relying on Past Agricultural Purchases to fix 5.02% Gross Profit [Read Order]
The Ahmedabad Income Tax Appellate Tribunal ( ITAT ) recently affirmed an order passed by the Commissioner of Income Tax (Appeals) ( CIT(A) ) deleting an income tax addition of ₹12.92 Crore towards...
![ITAT upholds CIT(A) Order Deleting ₹12.92 Crore Income Tax Addition relying on Past Agricultural Purchases to fix 5.02% Gross Profit [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-ITAT-Ahmedabad-CITA-Order-CITA-Income-Tax-Past-Agricultural-Purchases-Commissioner-of-Income-Tax-taxscan.jpg "ITAT upholds CIT(A) Order Deleting ₹12.92 Crore Income Tax Addition relying on Past Agricultural Purchases to fix 5.02% Gross Profit [Read Order]")
 ITAT Excludes Inter-Branch Transfers from Turnover, Grants Concessional Tax Rate to Power and Instrumentation Ltd. [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) excluded inter-branch transfers from turnover grants concessional tax rate to Power and Instrumentation Ltd. The main issue in...
![Â ITAT Excludes Inter-Branch Transfers from Turnover, Grants Concessional Tax Rate to Power and Instrumentation Ltd. [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Ahmedabad-Income-Tax-News-Inter-Branch-Transfers-Taxscan.jpg "Â ITAT Excludes Inter-Branch Transfers from Turnover, Grants Concessional Tax Rate to Power and Instrumentation Ltd. [Read Order]")
Failure to prove Benefit Alone, not grounds for Transfer Pricing Disallowance: ITAT in Bosch Automotive Electronics case [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ), in the case of Bosch Automotive Electronics, held that the failure to prove benefit alone cannot be accepted as a grounds for...
![Failure to prove Benefit Alone, not grounds for Transfer Pricing Disallowance: ITAT in Bosch Automotive Electronics case [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Banglore-Income-tax-Income-Tax-News-Transfer-Pricing-Disallowance-Taxscan.jpg "Failure to prove Benefit Alone, not grounds for Transfer Pricing Disallowance: ITAT in Bosch Automotive Electronics case [Read Order]")
ITAT Condones Delay in Appeal Due to serious dispute among Partners, Remands Case for Fresh Assessment with Costs [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) condoned a 355-day delay in appeal due to a serious dispute among partners and remanded the matter for fresh assessment with costs. ...
![ITAT Condones Delay in Appeal Due to serious dispute among Partners, Remands Case for Fresh Assessment with Costs [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-condones-delay-appeal-serious-dispute-partners-remands-case-fresh-assessment-costs-ITAT-Bangalore-taxscan-1.jpg "ITAT Condones Delay in Appeal Due to serious dispute among Partners, Remands Case for Fresh Assessment with Costs [Read Order]")