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Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.

Power Charges Provision Based On Actual Bills Not A Contingent Liability: ITAT Rejects CPC Disallowance u/s 143(1) [Read Order]

Solony Padhi

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) considered the issue regarding the allowance of a provision created toward payment of...

Unsecured Loans Amounting to Rs. 6 Cr from Unreliable Companies in Dispute: ITAT Rejects Appeal...

Interest u/s 220(2) Unsustainable Where Income Tax Demand Arose Only Through Subsequent...

Delhi HC Dismisses Revenue Appeals on India-Switzerland Treaty Issue in Light of Recent Ruling [Read...

Penalty to be Levied on Tax Amount Sought to be Evaded: ITAT Reduces Penalty u/s 271(1)(c) After...

Trust Deed Clause on Funds Utilization Outside of India Rectified by Amendment and Undertaking: ITAT Sets Matter for Review by CIT(E) on Merits [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, sent a matter back to the Commissioner of Income Tax-Exemption (CIT(E)) regarding utilisation of funds outside India clause in a trust deed...

ITAT Upholds Revision Order Against Ambuja Cements, Flags Unverified INSIGHT Portal Inputs on Alleged Accommodation Entries [Read Order]

In a recent ruling, the Mumbai ITAT upheld the PCIT’s Section 263 revision against Ambuja Cements, holding that the Assessing Officer did not properly verify the very low Section 14A disallowance...

Only Final Stamp Valuation Determined by Collector Applies u/s 50C: ITAT allows Full Section 54F Exemption [Read Order]

In a recent ruling, Income Tax Appellate Tribunal (ITAT), Raipur, held that only the final stamp valuation fixed by the Collector applies under Section 50C of the Income Tax Act, 1961. It deleted a...

Callous Approach by CIT(A) for Summarily Dismissing Appeal: ITAT Restores Appeal Dismissed Over Mere Clerical Error [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has set aside an order passed by the first appellate authority under the faceless regime, holding that an appeal cannot be dismissed ...

Agricultural Land is at 2.75 Km from Municipal Limit as per Google Map: ITAT quashes Capital Gain Addition [Read Order]

The Raipur Bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed a long-term capital gains addition after holding that the land sold by the assessee was a rural agricultural land...

ITAT Orders Re-evaluation of S. 14A Disallowances and Foreign Tax Credits for Bank of India, Dismisses Revenue’s Appeal [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that no disallowance under Section 14A of the Income Tax Act, 1961 could be made in respect of exempt income earned from shares...

Lack of Familiarity With Income Tax E-Filing Portal: ITAT Condones 66 Days Delay, Restores Trust Registration [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, in a matter relating to trust registration, condoned the delay of 66 days. The delay was caused due to the fact that the appellant-assessee...