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ITAT Sets aside CIT(E) order, Citing Insufficient Hearing Opportunity in Section 80G (5) Application Rejection [Read Order]

Aiswarya Krishnadas

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) set aside the Commissioner of Income Tax (Exemption) [CIT(E)] order, noting that...

Incomplete Interest Income Verification: ITAT Orders Revaluation of Co-op Society's 80P Deduction...

Co-operative Society registered under Karnataka Souharda Sahakari Act eligible for S. 80P Deduction...

ITAT confirms 50% Disallowance of Motor Car and Bike Expenses due to Failure to Provide...

punjab highcourt - haryana highcourt - Justification - Arms Length Price - ALP Determination - punjab hc deletes arms length price - haryana hc deletes arms length price - Absence of Justification - taxscan

Punjab & Haryana HC deletes Arm's Length Price in absence of Justification in Comparables used...

Jewelry Addition u/s 69B by Assuming Equal Ownership Among Cohabitants Invalid: ITAT [Read Order]

In a recent case, the Delhi ‘A’ bench of the Income Tax Appellate Tribunal ( ITAT ) held that income tax additions made on jewelry under section 69B of the Income Tax Act, 1961 was invalid as...

Absence of Incriminating Material: ITAT rules out Addition on Completed Assessment [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) ruled out additions on completed assessments due to the absence of incriminating material. The tribunal noted that the Assessing Officer...

Relevant Information Sought by AO Not Provided by Assessee: ITAT Restores Matter to AO for Fresh Adjudication [Read Order]

Recently, the Income Tax Appellate Tribunal (ITAT) of Delhi restored a matter back to the Commissioner of Income Tax (Appeals) [CIT (A)] for fresh adjudication as ex parte order was passed without...

AO’s failure to Investigate Agricultural Income, Land Purchase Sources, and Unexplained Bank Deposits: ITAT upholds PCIT Order [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) upheld the Principal Commissioner of Income Tax's (PCIT) order, agreeing that the Assessing Officer (AO) failed to conduct proper...

Prepaid Finance Charges Deductible in Year of Payment, Amortization Not Necessary: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) in a recent case ruled that prepaid finance charges made for business purposes are deductible in the year of payment, and thus amortization is not necessary. ...

Justice Should Not only be Done but also Appears to be Done: ITAT Remands Disallowance of Purchases Matter to AO for Verification [Read Order]

The New Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the disallowance of purchases matter back to the file of the assessing officer for verification ensuring justice should not...

Unacknowledged Adjournment Requests: ITAT remands Matter to CIT(A) For Fresh Consideration [Read Order]

The Income Tax Appellate Tribunal (ITAT) of Delhi recently remanded a matter back to the lower authority for fresh consideration, noting that the assessee’s requests for adjournment were not...