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S. 54F Exemption cannot Be Denied for Non-Deposit in Capital Gain Account if Entire Sale Consideration already Invested in Plot: ITAT [Read Order]

Navasree A.M

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that exemption under Section 54F of the Income Tax Act, 1961, cannot be...

Income Tax Penalty cannot be levied on Addition based on Estimation: “Unsustainable”, says ITAT...

Cash Deposit of ₹10 Lakh Claimed as Gift from Deceased Grandmother Lacked Evidence: ITAT Grants...

AO rejects books of account u/s 145(3) of the Income Tax Act in absence of documents: ITAT directs...

AO shall not Proceed with Income Tax Assessment Proceedings within Four Weeks if AO Rejects...

Cash Withdrawal from NRE A/c of Son-in Law deposited during Demonetization Period Sufficiently Explained: ITAT deletes Addition of Rs. 12L [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) has provided major relief to an individual taxpayer by holding that cash deposits made during the demonetization period, sourced from ...

ITAT Weekly Round-Up

This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the previous week, from 31st August 2025 to 6th September...

Purchases on Behalf of Ex-UP Principals Not Taxable u/s 30(1) of UP Trade Tax Act: SC Dismisses Revenue Appeal

The Supreme Court of India held that purchases made on behalf of Ex-UP Principals were not taxable under Section 30(1) of the UP Trade Tax Act and dismissed the Revenue’s appeal against the impugned...

INR 25 Lakh Cash Contribution by Directors Treated as Unexplained: ITAT Sets Aside CIT(A) Order, Directs Fresh Hearing [Read Order]

The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) set aside the Commissioner of Income Tax (Appeals)[CIT(A)] order and directed a fresh hearing in the matter concerning an addition of INR...

Dispute Over ₹39.91 Lakh Time Deposit with Bank of Baroda: ITAT Remands Matter to AO for Readjudication [Read Order]

The Ranchi Bench of Income Tax Appellate Tribunal (ITAT ) remanded the matter to the Assessing Officer (AO) for readjudication in a dispute over an alleged ₹39.91 lakh time deposit with Bank of...

Taxing Corresponding Interest Income on Asset Transfer to SPVs on Assessee amounts to Double Taxation: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Chennai Bench has deleted additions made under Section 69A of the Income Tax Act, 1961 on demonetization cash deposits, relying on Reserve Bank of India...

Relief to Thermo Fisher: ITAT allows Depreciation Claim on Supply & Maintenance Contracts Acquired via Slump Sale [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that manufacturing, supply, and maintenance contracts acquired through slump sale arrangements qualify as intangible assets...