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Filing Fee for Increased Share Capital Classified as Revenue Expenditure: ITAT Upholds AO's Decision [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the Assessing Officer's (AO) decision to classify the filing fee for an increase...

Income Tax Deduction Eligibility of Cooperative Society

ITAT Sets Aside CIT(A) Order, Directs NFAC to Resolve Appeal Alongside Pending Assessment Matter...

ITAT Rules S.56(2)(x) Inapplicable to Property Transaction Due to Execution of Agreement Before 01...

ITAT Quashes ₹4.27 cr Addition in Alleged Bogus LTCG from Penny Stock Transactions Citing Lack of...

Curable Defect in Form 35A: ITAT Sets Aside DRP Order [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) set aside the Dispute Resolution Panel's ( DRP ) order, ruling that the defect in Form 35A, which was initially signed by the Authorized...

ITAT Upholds CIT(A) Ruling on Unexplained Cash Credits Due to Acceptance of Genuineness in Remand Report [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)upheld the Commissioner of Income Tax Appeals[CIT(A)]'s ruling on unexplained cash credits, affirming the justified deletion of Rs....

Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCIT's Differing View: ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that the revisionary jurisdiction under Section 263 of the Income Tax Act,1961 cannot be invoked solely based on the Principal...

Relief to ICICI: ITAT Deletes Disallowance of Dividend Income Citing S.44 Overrides S.14A in Computation of Insurance Company Income [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the disallowance on dividend income claimed by ICICI Prudential Life Insurance, ruling that Section 44, being a non-obstante...

ITAT Grants Registration u/s 12AB, Clarifying That S.13(1)(b) Applies Only at the Assessment Stage [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)granted registration under section 12AB of the Income Tax Act,1961 clarifying that section 13(1)(b) of the Act applies only at the assessment...

Disallowance of Interest Expenses: ITAT remands Matter for Fresh Adjudication [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) the matter of disallowance of interest expenses back to the Jurisdictional Assessing Officer for fresh adjudication. Upendra Chinubhai...

AO not at Fault in completing Income Tax Assessment once Jurisdiction to Issue Notice u/s 143(2) is Accepted: Delhi HC [Read Order]

The Delhi High Court recently upheld the powers of an Assessing Officer (AO) to complete a pending Income Tax Assessment, once the jurisdictional competence of the Officer to issue Notice under...

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