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ITAT Rules Non-Submission of Provisional Registration Copy for S.12AB Registration Not a Ground to Determine Pre-Requisite Condition [Read Order]

The Nagpur Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the order of the Commissioner of Income Tax (Exemptions) [CIT(E)] which...

Reassessment After 4 Years With Same Set of Facts Which Already Available During Original Assessment...

Consider GST Registration and Import Export Certificate for Proprietor Claim: ITAT Remands FTC...

BroadBand and Bandwidth Charges Not a Royalty: ITAT Dismisses TDS claim of Revenue [Read Order]

ITAT Quashes Reassessment Against Assessee in NSEL Scam Matter: Says No Failure to Disclose Material...

Conditions For Donees U/s 80G Satisfied: ITAT Allows Deduction of CSR Donations [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the revenue’s appeal and upheld the Commissioner of Income Tax (Appeals) [CIT(A)]’s order to delete the disallowance of a...

Income Tax Dept. has no Material to Prove Existence of Order under “View Notices and Orders” on Portal: Allahabad HC Allows Assessee to Treat SCN as Final Notice [Read Order]

The Allahabad High Court recently granted relief to an assessee, ruling that the Income Tax Department had no material to establish that the impugned assessment order was actually available under...

Section 50C Income Tax Addition Not Applicable When Registered Sale Agreement Precedes Circle Rate Hike: Delhi HC [Read Order]

In a recent ruling, the Delhi High Court held that an addition under Section 50C of the Income Tax Act cannot be made when a registered sale agreement was executed before the circle rate was...

Unexplained 33- Fold Share Price Increase: ITAT Upholds ₹80.17 Lakh Bogus LTCG Addition u/s 68 [Read Order]

The Agra Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the Assessing Officer’s (AO) addition of Rs. 80,17,339 as bogus long-term capital gain (LTCG) under Section 68 of the Income ...

In Absence of Concrete Material Revision u/s 263 of Income Tax Act Not Possible on Assessment Based on DVO's Valuation: Kerala HC [Read Order]

The Kerala High Court ruled that, in the absence of tangible evidence, an assessment based on the Department Valuation Officer's (DVO) valuation cannot be changed under Section 263 of the Income Tax...

ITAT Deletes ₹52.91 Lakh Unexplained Investment Addition on Land Purchase Due to Unreliable Draft MOU Evidence [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) deleted an addition of Rs. 52,91,053 made by the Assessing Officer ( AO ) as unexplained investment under Section 69 and ruled that...

Taxpayer Can Raise Additional Claims Before Appellate Authorities: ITAT Allows ₹4.90 Cr ESOP claim [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed a deduction of Rs. 4,90,35,650 for Employee Stock Option Plans (ESOPs) expenses, including an additional claim of Rs. ...

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