![Disallowance in Unabated Assessment Without Incriminating Material: ITAT Upholds Deletion of ₹16.29 Lakh Penalty u/s 271(1)(c) [Read Order]](https://images.taxscan.in/h-upload/2025/07/30/500x300_2070898-itat-penalty-deletes-taxscan.webp "Disallowance in Unabated Assessment Without Incriminating Material: ITAT Upholds Deletion of ₹16.29 Lakh Penalty u/s 271(1)(c) [Read Order]")
Disallowance in Unabated Assessment Without Incriminating Material: ITAT Upholds Deletion of ₹16.29 Lakh Penalty u/s 271(1)(c) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of penalty under Section 271(1)(c) of the Income Tax Act, 1961 and...
![AO Accepts Taxpayers ITR Without Reflecting Prior Adjustments Made u/s 143(1): ITAT Deletes Deferred Tax Adjustment [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-Mumbai-Income-Tax-ITAT-Deletes-AO-Accepts-Income-Tax-Appellate-Tribunal-Assessing-office-taxscan.jpg "AO Accepts Taxpayers ITR Without Reflecting Prior Adjustments Made u/s 143(1): ITAT Deletes Deferred Tax Adjustment [Read Order]")
![Chhagan Bhujbals Agricultural Income under Scanner: ITAT directs AO to Verify Sales Records [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Chhagan-Bhujbal-Agricultural-Income-Income-Tax-Appellate-Tribunal-Assessment-Officer-Sales-Records-Under-Scanner-taxscan.jpg "Chhagan Bhujbals Agricultural Income under Scanner: ITAT directs AO to Verify Sales Records [Read Order]")
![ITAT deletes Adjustment on Section 80P Deduction as Taxpayer Filed ITR within Due Date u/s 139(1) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Mumbai-ITR-filed-Income-Tax-Return-taxcan.jpeg "ITAT deletes Adjustment on Section 80P Deduction as Taxpayer Filed ITR within Due Date u/s 139(1) [Read Order]")
![Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-tax-appellate-tribunal-income-tax-act-income-tax-Tax-news-TAXSCAN.jpg "Cash Deposit Made in Bank Account Stands Thoroughly and Properly Explained: ITAT Deletes Addition of Rs. 7.43 Crore [Read Order]")
Pure Charity Performance of Activity without Consideration is not Envisioned u/s 2(15) of Income Tax Act as GPU object: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that Pure Charity Performance of Activity without Consideration is not envisioned under Section 2(15) of the Income Tax Act,...
![Pure Charity Performance of Activity without Consideration is not Envisioned u/s 2(15) of Income Tax Act as GPU object: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-ITAT-Mumbai-Income-Tax-Charitable-activities-GPU-General-Public-Utility-TAXSCAN.jpg "Pure Charity Performance of Activity without Consideration is not Envisioned u/s 2(15) of Income Tax Act as GPU object: ITAT [Read Order]")
Non Response to Notice u/s 133(6) of Income Tax Act doesn't prove that entire Transaction is Bogus: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) observed that no response to notice under Section 133(6) of Income Tax Act, 1961 that doesn't prove that entire transactions are bogus ...
![Non Response to Notice u/s 133(6) of Income Tax Act doesnt prove that entire Transaction is Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/ITAT-Mumbai-Non-response-to-Income-Tax-Notice-Bogus-transactions-and-Income-Tax-ITAT-rulings-on-bogus-transactions-Taxscan.jpg "Non Response to Notice u/s 133(6) of Income Tax Act doesnt prove that entire Transaction is Bogus: ITAT [Read Order]")
ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, directed the re-computation of the Arm Length Price (ALP) for international transactions conducted by ICICI Bank related to adjustments for...
![ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/site-img-13.jpg "ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]")
Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, while granting relief to assessee ICICI Bank, held that expenses incurred towards the club membership fee of employees are business...
![Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/business-expenditure-ITAT-ICICI-Bank-TAXSCAN.jpg "Expenses incurred towards club membership fee of employees is business expenditure: ITAT grants relief to ICICI Bank [Read Order]")
Relief to ICICI Bank: ITAT directs to allow Depreciation claimed on Leased Assets continuing from Past Lease Transactions. [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, directed to allow depreciation claims on leased assets continuing from past lease transactions hence granting relief to ICICI Bank. The...
![Relief to ICICI Bank: ITAT directs to allow Depreciation claimed on Leased Assets continuing from Past Lease Transactions. [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/site-img-14.jpg "Relief to ICICI Bank: ITAT directs to allow Depreciation claimed on Leased Assets continuing from Past Lease Transactions. [Read Order]")
MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, held that mark-to-market losses incurred in the regular course of business by ICICI Bank are allowable as a deduction for computing tax...
![MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/MTM-losses-ICICI-Bank-ITAT-AO-MTM-TAXSCAN.jpg "MTM losses incurred in regular course of business of ICICI Bank allowable as deduction: ITAT directs AO to bring MTM gain reverse back to tax [Read Order]")