![Books Rejected for Absence of Stock Register and Abnormal Cash Sales: ITAT Upholds Rejection and Confirms 5% Profit Estimation u/s 145(3) [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070842-books-rejected-absence-stock-register-abnormal-cash-sales-itat-upholds-rejection-confirms-5-profit-estimation-taxscan.webp "Books Rejected for Absence of Stock Register and Abnormal Cash Sales: ITAT Upholds Rejection and Confirms 5% Profit Estimation u/s 145(3) [Read Order]")
Books Rejected for Absence of Stock Register and Abnormal Cash Sales: ITAT Upholds Rejection and Confirms 5% Profit Estimation u/s 145(3) [Read Order]
The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) upheld the rejection of books of accounts under Section 145(3) of the Income Tax Act,...
![ITAT Rules in Favor of Co-op Society: Bank Interest Income Eligible for 80P Deduction [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070979-itat-rules-favor-co-op-society-bank-interest-income-eligible-80p-deduction-taxscan.webp "ITAT Rules in Favor of Co-op Society: Bank Interest Income Eligible for 80P Deduction [Read Order]")
![Foreign Exchange Loss Allowed as Revenue Expenditure: ITAT Deletes Disallowance Citing Non-Capitalization [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070957-foreign-exchange-loss-revenue-expenditure-itat-deletes-disallowance-citing-non-capitalization-taxscan.webp "Foreign Exchange Loss Allowed as Revenue Expenditure: ITAT Deletes Disallowance Citing Non-Capitalization [Read Order]")
![Income Tax Dept Could not Place alleged accommodation entries which led to Addition u/s 69A: ITAT dismisses Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/250x150_2071599-income-tax-dept-income-tax-dept-could-not-place-alleged-accommodation-entries-taxscan.webp "Income Tax Dept Could not Place alleged accommodation entries which led to Addition u/s 69A: ITAT dismisses Appeal [Read Order]")
![ITAT Strikes Down Reassessment Due to Wrong Authority’s Approval, Co-op Society Wins Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/250x150_2070993-itat-pune-quashes-reassessment-order-taxcsan.webp "ITAT Strikes Down Reassessment Due to Wrong Authority’s Approval, Co-op Society Wins Appeal [Read Order]")
Section 14A Disallowance Restricted to Exempt Income Investments: ITAT Upholds CIT(A)’s Order, Rejects Retrospective Amendment Application [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that disallowance should be restricted to investments that actually yielded exempt income, rejecting the Revenue’s contention for ...
![Section 14A Disallowance Restricted to Exempt Income Investments: ITAT Upholds CIT(A)’s Order, Rejects Retrospective Amendment Application [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070951-itat-mumbai-section-14a-disallowance-income-investments-taxscan.webp "Section 14A Disallowance Restricted to Exempt Income Investments: ITAT Upholds CIT(A)’s Order, Rejects Retrospective Amendment Application [Read Order]")
Bogus Purchase Addition Restricted to 12.5% Gross Profit: ITAT Upholds CIT(A)’s Order, Citing Judicial Precedent [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)] order restricting bogus purchase addition to 12.5% of gross profit and dismissed...
![Bogus Purchase Addition Restricted to 12.5% Gross Profit: ITAT Upholds CIT(A)’s Order, Citing Judicial Precedent [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070917-bogus-purchase-addition-taxscan.webp "Bogus Purchase Addition Restricted to 12.5% Gross Profit: ITAT Upholds CIT(A)’s Order, Citing Judicial Precedent [Read Order]")
Unaccounted Cash Sales Reconciled with Invoices and Stock: ITAT Upholds Deletion of ₹30 Lakh Addition u/s 69C [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of the Rs. 30,01,023 addition under Section 69C of the Income Tax Act, 1961 and ruled that the assessee's...
![Unaccounted Cash Sales Reconciled with Invoices and Stock: ITAT Upholds Deletion of ₹30 Lakh Addition u/s 69C [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070914-unaccounted-cash-sales-cash-sales-cash-sales-reconciled-with-invoices-and-stock-taxscan.webp "Unaccounted Cash Sales Reconciled with Invoices and Stock: ITAT Upholds Deletion of ₹30 Lakh Addition u/s 69C [Read Order]")
Satisfaction Note by the AO for S.153C Assessment Need to Be Recorded for Each AY: ITAT Quashes ₹2.11 Crore Addition Citing Combined Satisfaction Note [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the satisfaction note under Section 153C of the Income Tax Act, 1961, must be recorded separately for each assessment year and...
![Satisfaction Note by the AO for S.153C Assessment Need to Be Recorded for Each AY: ITAT Quashes ₹2.11 Crore Addition Citing Combined Satisfaction Note [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070883-itat-quashes-211-crore-addition-citing-combined-satisfaction-note-taxscan.webp "Satisfaction Note by the AO for S.153C Assessment Need to Be Recorded for Each AY: ITAT Quashes ₹2.11 Crore Addition Citing Combined Satisfaction Note [Read Order]")
Housewife Taxpayer Not Complied to Notices for Stock Transaction: ITAT Remits ₹11.16 Lakh Unexplained Income Matter with 10k Costs [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) remitted to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication, imposing a cost of ₹10,000 for non-compliance with...
![Housewife Taxpayer Not Complied to Notices for Stock Transaction: ITAT Remits ₹11.16 Lakh Unexplained Income Matter with 10k Costs [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070867-housewife-taxpayer-not-complied-notices-stock-transaction-itat-remits-1116-lakh-unexplained-income-matter-10k-costs-taxscan.webp "Housewife Taxpayer Not Complied to Notices for Stock Transaction: ITAT Remits ₹11.16 Lakh Unexplained Income Matter with 10k Costs [Read Order]")
Ex-Parte Appellate Order Without Reasonable Opportunity: ITAT Restores Rs. 2.55 Cr Matter for Fresh Adjudication [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) restored the matter to the Commissioner of Income Tax (Appeals) [CIT(A)] for de novo adjudication and held that the ex-parte appellate...
![Ex-Parte Appellate Order Without Reasonable Opportunity: ITAT Restores Rs. 2.55 Cr Matter for Fresh Adjudication [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070880-parte-appellate-order-without-reasonable-opportunity-itat-restores-matter-adjudication-taxscan.webp "Ex-Parte Appellate Order Without Reasonable Opportunity: ITAT Restores Rs. 2.55 Cr Matter for Fresh Adjudication [Read Order]")