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ITAT Amritsar

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

Advika Dwivedi

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

DIN Absence: ITAT Remands Matter for Reconsideration [Read Order]

Assessee Proves Absence from India: ITAT condones Delay in Appeal

ITAT Deletes Penalty of ₹96,010 on Alleged Bogus Brick Payment after Department Confirms No Pending...

Non-Compliance with Fresh Registration Requirement Following J&K Reorganisation: ITAT Rejects S. 12A...

Bank Account Opened Fraudulently in Assessee’s Company, AO adds Rs. 15 cr as Protective Addition: ITAT Deletes Addition [Read Order]

The Amritsar Bench of Income Tax Appellate Tribunal ( ITAT ) deletes ₹15 crore protective addition after finding that a bank account was fraudulently opened in the name of the assessee, who has no ...

S.68 Invocable Only If Taxpayer Maintain Books: ITAT deletes Addition as Returns Filed u/s 44AD [Read Order]

The Amritsar Bench of Income Tax Appellate Authority ( ITAT ) ruled that Section 68 of the Income Tax Act,1961 can only be invoked if the taxpayer maintains books of accounts. In this case, the...

Union Budget 2024: Income Tax Bar, Jalandhar submits Pre-Budget Memorandum

The Income Tax Bar, Jalandhar, Punjab has submitted a Pre-Budget Memorandum to the Union Finance Minister, addressing major concerns among stakeholders, professionals and taxpayers with respect to...

ITAT directs AO to treat Building Expenditure part of Surrendered Income already disclosed during Survey as Business Income, sets aside application of S. 69 r.w.s 115BBE [Read Order]

The Amritsar Bench of Income Tax Appellate Tribunal (ITAT) has set aside the application under Section 69 read with Section 115BBE of the Income Tax Act 1961 directing the Assessing Officer (AO) to...

Excess Stock Discovered in Survey by Tax Authorities Treated as Regular Business Income, Not Deemed Income u/s 69B of IT Act as fully disclosed in Books; Section 115BBE Inapplicable: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Amritsar Bench has held that excess stock discovered during the survey by tax authorities should be treated as regular business income of the assessee and...

Reassessment shall not be framed u/s 153C of Income Tax Act, if notice for search proceedings issued u/s 153A of Act: ITAT deletes Penalty [Read Order]

The Income Tax Appellate Tribunal (ITAT) Amritsar Bench held that reassessment should not be framed under Section 153C of Income Tax Act, 1961 if notice for search proceedings was issued under...

Ex parte Order passed u/s 250 of the Income Tax Act without Providing Reasonable Opportunity: ITAT directs Readjudication [Read Order]

In a significant case, the Amritsar bench of the Income Tax Appellate Tribunal (ITAT) ex parte order passed under section 250 of the Income Tax Act, 1961 without providing a reasonable opportunity ...