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AO Failed to Record Proper Satisfaction to Invoke R. 8D: ITAT Restricts Disallowance to SIDBI's Calculation [Read Order]

Franklin Joshva

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) restricted the disallowance made under Section 14A of the Income Tax Act to the...

Exemption u/s 10(25)(ii) Denied for Filing Return in Wrong Form: ITAT says it’s Procedural Lapse,...

Sale of Ancestral Property and Reinvestment in More than One Residential Units: Delhi HC says...

Block Assessments Invalid Due to Defective Satisfaction Note: ITAT Quashes S.153C Proceedings in...

Ex Parte and Uncommunicated CIT(A) Order Violates Natural Justice u/s 250: Chhattisgarh HC Sets...

Profit Estimation Capped at 1.5%: ITAT Recognises Assessee as Livestock Transporter [Read Order]

The bench of the Income Tax Appellate Tribunal (ITAT) Pune, observing that the assessee was engaged in the transportation of livestock on a commission basis and not in retail trading, the Tribunal...

Legal Challenge to Reopening of Assessment Not Raised Before CIT(A): ITAT Restores Appeal for Fresh Adjudication [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) restored the appeal for fresh adjudication of a legal issue regarding the validity of the reopening of the assessment stating that this...

Homebuyer Claims S. 80C Deduction for Housing Loan Repayment, Wins Dept Challenge: Know How ITAT Ruled

The Income Tax Appellate Tribunal (ITAT) Panaji recently ruled in favour of a taxpayer who had claimed a deduction under Section 80C of the Income Tax Act, 1961, for repayment of a housing loan...

Awaiting CCIT order on Delayed ITR Condonation Petition: ITAT Remands on 80P Deduction Disallowance Matter [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) remitted the issue regarding the disallowance of the Section 80P deduction back to the file of the Commissioner of Income Tax (Appeals) ...

Reassessment Based Solely on Audit Objection Constitutes Mere Change of Opinion: ITAT Quashes Reopening in Income Tax Case [Read Order]

The Bench of the Income Tax Appellate Tribunal, Delhi , has ruled that reassessment initiated merely on the basis of an audit objection without any new tangible material amounts to a mere change of...

Search-Based Addition u/s 153A Unsustainable without Incriminating Material for Completed Assessments: ITAT Deletes ₹26.10 Lakh in Raj Shyama Construction Case [Read Order]

The Bench of the Income Tax Appellate Tribunal (ITAT), Delhi, held that an addition made under Section 153A of the Income Tax Act, 1961, cannot be sustained in the absence of incriminating material...

MAT Adjustment Must Be Based on Lower of Business Loss or Depreciation: ITAT Dismisses Appeal of Sungroup Enterprises [Read Order]

The Bench of the Income Tax Appellate Tribunal (ITAT), New Delhi, held that the lower of the unabsorbed depreciation or business loss, as per the books of account, must be adjusted against the...