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![Mechanical 145A Addition Set Aside: ITAT Rules Profit-Neutral MODVAT Adjustment Can’t Trigger Tax [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/2115310-mechanical-145a-addition-set-aside-itat-rules-profit-neutral-modvat-adjustment-cant-trigger-tax-taxscan.webp "Mechanical 145A Addition Set Aside: ITAT Rules Profit-Neutral MODVAT Adjustment Can’t Trigger Tax [Read Order]")
Mechanical 145A Addition Set Aside: ITAT Rules Profit-Neutral MODVAT Adjustment Can’t Trigger Tax [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that a mechanical adjustment under Section 145A of the Income Tax Act, 1961,...
![Failure to obtain Mandatory Approval from PCCIT for Notice Issued Beyond Three Years: ITAT quashes reassessment order [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/2115279-itat-reassessment-taxscan.jfif "Failure to obtain Mandatory Approval from PCCIT for Notice Issued Beyond Three Years: ITAT quashes reassessment order [Read Order]")
![Revenue Failed to Establish Business Transactions as Non-Genuine: ITAT Deletes Addition on Fictitious Sundry Debtors [Read Order]](https://images.taxscan.in/h-upload/2025/12/28/2115458-revenue-business-transactions-itat-sundry-debtors-taxscan.webp "Revenue Failed to Establish Business Transactions as Non-Genuine: ITAT Deletes Addition on Fictitious Sundry Debtors [Read Order]")
![Difference Between Purchase Price and FMV u/s 56(2)(viia) Requires Fresh Verification of Asset Realizable Value: ITAT Remits Matter [Read Order]](https://images.taxscan.in/h-upload/2025/12/28/2115455-purchase-price-fmv-fresh-verification-asset-realizable-value-itat-taxscan.webp "Difference Between Purchase Price and FMV u/s 56(2)(viia) Requires Fresh Verification of Asset Realizable Value: ITAT Remits Matter [Read Order]")
![Annual Income Tax Case Digest: ITAT Decisions 2025 [Part XVI]](https://images.taxscan.in/h-upload/2025/12/27/2115245-annual-income-tax-case-digest-itat-decisions-2025-part-xvi-taxscan.webp "Annual Income Tax Case Digest: ITAT Decisions 2025 [Part XVI]")
![Special Allowances - Exemptions and Taxability Under Income Tax Act [Old vs New Tax Act Series]](https://images.taxscan.in/h-upload/2025/12/27/2115348-income-tax-act-2025.webp "Special Allowances - Exemptions and Taxability Under Income Tax Act [Old vs New Tax Act Series]")
Urban Development Authority Entitled to S.11 Exemption: ITAT Rules Fees and Grants Not Commercial Receipts [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue's appeals and held that the statutory fees and government grants received by the authority did not convert its...
![Urban Development Authority Entitled to S.11 Exemption: ITAT Rules Fees and Grants Not Commercial Receipts [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/2115333-urban-development-authority-entitled-to-s11-exemption-itat-rules-fees-and-grants-not-commercial-receipts-taxscan.webp "Urban Development Authority Entitled to S.11 Exemption: ITAT Rules Fees and Grants Not Commercial Receipts [Read Order]")
Statutory Income Tax Appeal Pending for Over Two Years: Calcutta HC Orders Expeditious Disposal, Refuses Refund Direction without Stay [Read Order]
In a recent ruling, the Calcutta High Court directed expeditious disposal of a statutory income tax appeal that had been pending for more than two years and refused to pass any mandatory order...
![Statutory Income Tax Appeal Pending for Over Two Years: Calcutta HC Orders Expeditious Disposal, Refuses Refund Direction without Stay [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/2115307-statutory-income-tax-appeal-pending-for-over-two-years-calcutta-hc-orders-expeditious-disposal-refuses-refund-direction-without-stay-taxscan.webp "Statutory Income Tax Appeal Pending for Over Two Years: Calcutta HC Orders Expeditious Disposal, Refuses Refund Direction without Stay [Read Order]")
![No S.68 Addition on Sale of Inherited Jewellery Backed by Valuation Report: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/2115289-no-s68-addition-sale-inherited-jewellery-backed-valuation-report-itat-taxscan.webp "No S.68 Addition on Sale of Inherited Jewellery Backed by Valuation Report: ITAT [Read Order]")
Reassessment beyond Three Years Invalid as Escaped Income Below ₹50 Lakh Threshold: ITAT quashes Order [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) quashed a reassessment order and ruled that proceedings initiated beyond the three year limitation period are invalid if the income...
![Reassessment beyond Three Years Invalid as Escaped Income Below ₹50 Lakh Threshold: ITAT quashes Order [Read Order]](https://images.taxscan.in/h-upload/2025/12/27/2115273-reassessment-invalid-income-below-threshold-itat-quashes-order-taxscan.webp "Reassessment beyond Three Years Invalid as Escaped Income Below ₹50 Lakh Threshold: ITAT quashes Order [Read Order]")