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Registration of House 24 months after Sale not ground to deny Exemptions u/s 54F: ITAT [Read Order]

Avinash Kurungot

The Visakhapatnam Bench of the Income Tax Appellate Tribunal ( ITAT ) recently held that a delay above 24 months to conduct registration of house...

Challenge against Genuineness of Transaction not raised before ITAT does not survive before HC:...

ITAT Grants Interest on Self-Assessment Tax Refund, Rules Adjustment of Tax Liability Affects...

Income Tax Dept to Scrutinize 'High-Risk' Refund Claims for AY 2024-25 under new SOP

CBDT grants Income Tax Exemption to 4 Govt Bodies u/s 10(46) [Read Notification]

Reassessment Proceedings under Income Tax Act Can't Be Initiated Against Deceased Assessee: Kerala HC [Read Order]

In a significant case, the Kerala High Court ruled that reassessment proceedings under the Income Tax Act, 1961 cannot be initiated against a deceased assessee. Section 148A of the Income Tax Act...

CIT(A) Deletion of Bogus Expenditure Additions upheld: ITAT affirms need for Substantive Evidence [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal(ITAT) upheld the deletion of bogus expenditure additions made by the Commissioner of Income Tax (Appeals) [CIT(A)]. This decision reinforced the...

ITAT upholds CIT(A) Ruling on Accounting Manipulation and Tax Evasion Due to Insufficient Evidence [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal(ITAT) upheld the ruling of the Commissioner of Income Tax (Appeals) [CIT(A)] regarding accounting manipulation and tax evasion due to insufficient...

Partnership Firm Converted into LLP: ITAT quashes Revision Proceedings Due to Non-Existence of Entity [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the revision order passed under Section 263 of the Income Tax Act, 1961 because the entity in question did not exist during the...

Unsigned, Undated and Unstamped Satakhat has No Evidentiary value in Eyes of Law: ITAT deletes Rs. 1.19 crore Addition [Read Order]

The Surat bench of Income Tax Appellate Tribunal ( ITAT ) has ruled that an unsigned, undated, and unstamped Satakhat has no evidentiary value in the eyes of law, thereby deleting an addition of...

ITAT upholds CIT(A) Decision, Dismissing Additions for AY 2015-16 Due to Lack of Evidentiary Value in Excel Sheet [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal(ITAT) upheld the decision of the Commissioner of Income Tax (Appeals)[CIT(A)],dismissing the additions made for Assessment Year(AY)...

AO Wrongly allowed Posco India's set-off of Brought-Forward Loss of ₹1.4 cr: ITAT directs Disallowance, Citing Adjustments made in Previous Years [Read Order]

The Cuttack Bench of Income Tax Appellate Tribunal ( ITAT ) directed disallowance of set-off of the brought-forward loss of Rs.1,47,26,425 citing that adjustments had already been made in previous...

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