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Partial Relief Granted on Cash Deposits During Demonetisation: ITAT Restricts Addition to ₹6,000 under Income Tax [Read Order]

The bench of the Income Tax Appellate Tribunal (ITAT), Amritsar granted partial relief to the assessee by restricting the addition of cash deposits...

No Incriminating Material: ITAT Quashes Search Assessments over Mechanical 153D Approval, Deletes...

Presumption u/s 292C of Income Tax is Rebuttable and Not Conclusive: ITAT Deletes ₹18 Lakh Addition...

Prior Year Share Receipts Not Taxable in Current Year: ITAT upholds Investor Credibility [Read...

Relief to Sacred Heart Church u/s 11: ITAT rules Form 10B filing Directory, Condones Delay of 39...

ITAT Deletes Penalties u/s 271(1)(c) for Four Years Citing Vague and Defective IT Notice [Read Order]

In a recent case, the Income Tax Appellate Tribunal (ITAT), Delhi, has quashed penalties imposed on the assessee under Section 271(1)(c) of the Income Tax Act, 1961, for assessment years 2008-09 to ...

Intra-Group Services Not Stewardship: ITAT Deletes ₹28.74 Cr TP Adjustment for Corteva Agriscience [Read Order]

In a major relief to Corteva Agriscience India Pvt. Ltd. (formerly E.I. DuPont India Pvt. Ltd.), the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted a ₹28.74 crore transfer...

Delayed EPF/ESIC Payments Not Deductible: ITAT Upholds Rs 12.91 Lakh Disallowance u/s 36(1)(va) r.w.s 43B [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently dismissed an appeal filed by an assessee challenging the disallowance of Rs.12,91,486 under section 36(1)(va) read with section...

ITAT Decision to uphold Higher 22% LTCG u/s 115BAA on Domestic Company raises Eyebrows [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the 22% tax rate on Long-Term Capital Gains (LTCG) for domestic companies that have opted for the concessional tax regime...

ITAT Holds Bona Fide Belief and Lack of Technical Knowledge Constitute Sufficient Cause, Condones 972-Day Delay by 71-Year-Old Assessee [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has condoned a delay of 972 days in filing an appeal by Mr. Kirtikumar Champaklal Bhimani, a 71-year-old individual taxpayer and held...

Time-Barred and Vague Satisfaction Note: ITAT Quashes Assessments Beyond Six-Year Limit u/s 153C [Read Order]

In a consolidated ruling covering multiple assessment years, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has invalidated reassessments initiated under Section 153C of the Income Tax...

S. 68 Applies to Cash Credits in Books Even under Presumptive Tax: ITAT Deletes Ad Hoc Profit Addition [Read Order]

In a detailed ruling clarifying the interaction between presumptive taxation and unexplained cash credit provisions, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that...

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