![ITAT Deletes AOs Excess Stock Addition based on Misinterpretation of Finished Goods Accounting System and Unsubstantiated Sales Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Excess-stock-arisen-normal-business-income-business-stock-ITAT-TAXSCAN-1536x806-1.jpg "ITAT Deletes AOs Excess Stock Addition based on Misinterpretation of Finished Goods Accounting System and Unsubstantiated Sales Evidence [Read Order]")
ITAT Deletes AO's Excess Stock Addition based on Misinterpretation of Finished Goods Accounting System and Unsubstantiated Sales Evidence [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the excess stock addition made by the assessing officer due to the...
![Relief to JN Tata Endowment: ITAT dismisses Revenue Appeal against Income Tax Act Section 11 Exemption Availment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Tata-Endowement-site-img.jpg "Relief to JN Tata Endowment: ITAT dismisses Revenue Appeal against Income Tax Act Section 11 Exemption Availment [Read Order]")
![Additions on Land Purchase: ITAT grants Stay from Recovery of Rs. 45 Lakhs for Pendency of Income Tax Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Ahmedabad-Land-Purchase-Additions-on-Land-Purchase-ITAT-grants-Stay-Income-Tax-Appeal-TAXSCAN.jpg "Additions on Land Purchase: ITAT grants Stay from Recovery of Rs. 45 Lakhs for Pendency of Income Tax Appeal [Read Order]")
![Second Chance to Shilp Gravures Ltd: ITAT Remands Matter Back to CIT(A) for Non-Examination of Facts of Deduction Claim u/s 80IA [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/TAT-ITAT-Ahmedabad-Shilp-Gravures-Ltd-ITAT-Remands-Matter-Back-to-CITA-Non-Examination-TAXSCAN.jpg "Second Chance to Shilp Gravures Ltd: ITAT Remands Matter Back to CIT(A) for Non-Examination of Facts of Deduction Claim u/s 80IA [Read Order]")
![No Concrete Evidence on Record for Cash Transaction Limit Violation: ITAT directs AO to delete Income Tax Penalties [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-ITAT-Ahmedabad-Cash-Transaction-Limit-2024-TAXSCAN.jpeg "No Concrete Evidence on Record for Cash Transaction Limit Violation: ITAT directs AO to delete Income Tax Penalties [Read Order]")
Justice Should Not only be Done but also Appears to be Done: ITAT Remands Disallowance of Purchases Matter to AO for Verification [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the disallowance of purchases matter back to the file of the assessing officer for verification ensuring justice should not...
![Justice Should Not only be Done but also Appears to be Done: ITAT Remands Disallowance of Purchases Matter to AO for Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-Disallowance-of-Purchases-AO-assessing-officer-Justice-Appears-itat-about-Disallowance-of-Purchases-itat-on-Disallowance-of-Purchases-Disallowance-purchase-Verification-by-ao-taxscan.jpg "Justice Should Not only be Done but also Appears to be Done: ITAT Remands Disallowance of Purchases Matter to AO for Verification [Read Order]")
No Disallowance u/s 14A when no Exempt Income earned by Assessee: ITAT dismisses Revenue Appeal [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of disallowance under Section 14A of the Income Tax Act, by the Commissioner of Income Tax (Appeals [CIT(A)], on...
![No Disallowance u/s 14A when no Exempt Income earned by Assessee: ITAT dismisses Revenue Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Section-14A-of-the-Income-Tax-Act-Income-Tax-Income-Tax-Act-ITAT-dismisses-Revenue-Appeal-taxscan.jpg "No Disallowance u/s 14A when no Exempt Income earned by Assessee: ITAT dismisses Revenue Appeal [Read Order]")
Limitation u/s 263 of Ties to Original Assessment Order when Reassessment Order is Distinct and Different: Rajasthan HC [Read Order]
The Rajasthan High Court set aside the notice issued under Section 263 of the Income Tax Act, 1961 stating the limitation invoking revisionary powers relate back to original income tax assessment...
![Limitation u/s 263 of Ties to Original Assessment Order when Reassessment Order is Distinct and Different: Rajasthan HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Rajasthan-HC-Rajasthan-High-Court-under-Section-263-of-the-Income-Tax-Act-Income-Tax-Act-Income-Tax-Reassessment-Order-Assessment-Order-High-Court-news-Income-Tax-News-taxscan.jpg "Limitation u/s 263 of Ties to Original Assessment Order when Reassessment Order is Distinct and Different: Rajasthan HC [Read Order]")
Stay Application Rejected by Income Tax Dept Over alleged Under-Reporting: Madras HC directs to Resolve Appeal in 4 Months [Read Order]
In a recent ruling, the Madras High Court instructed the Income Tax Department to resolve an appeal within four months in a matter where the department had rejected the stay application based on an...
![Stay Application Rejected by Income Tax Dept Over alleged Under-Reporting: Madras HC directs to Resolve Appeal in 4 Months [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-Department-Income-Tax-Act-Madras-HC-Stay-Application-TAXSCAN.jpg "Stay Application Rejected by Income Tax Dept Over alleged Under-Reporting: Madras HC directs to Resolve Appeal in 4 Months [Read Order]")
Relief to EY: ITAT rules Reimbursement of Secondment Charges not FTS under Article 12 of India-USA DTAA [Read Order]
The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) recently in a case ruled that reimbursement of secondment charges are not Fee For Technical Services ( FTS ) under Article 12 of India -USA...
![Relief to EY: ITAT rules Reimbursement of Secondment Charges not FTS under Article 12 of India-USA DTAA [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/income-Tax-ITAT-ITAT-Rules-India-USA-DTAA-EY-under-ITAT-TAXSCAN.jpg "Relief to EY: ITAT rules Reimbursement of Secondment Charges not FTS under Article 12 of India-USA DTAA [Read Order]")
![Proper Enquiry done by AO: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-ITAT-Ahmedabad-Revision-order-under-Income-Tax-TAXSCAN-1.jpg "Proper Enquiry done by AO: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]")
![Routine Support Services not FTS under India-UK DTAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-India-UK-DTAA-Double-Taxation-Avoidance-Agreement-DTAA-Fee-for-Technical-Services-taxscan.jpg "Routine Support Services not FTS under India-UK DTAA: ITAT [Read Order]")