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Mahavir Singh

Cash Sales Substantiated During Demonetization: ITAT Upholds ₹1.32 Cr Deletion of Cash Deposit Addition [Read Order]

Franklin Joshva

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has upheld the Commissioner of Income Tax (Appeals) [ CIT(A) ] order, deleting an...

Relief to Make My Trip: ITAT Quashes Revision Order Noting AO's Proper Inquiry on ESOP Expenses...

‘When Cash is Sourced out of Recorded Debtors, S. 69A cannot be invoked’: ITAT deletes Addition of...

Disallowance of Indexed Construction Costs for Lack of Evidence: ITAT allows 50% as Reasonable...

Circular Transactions proven by Father’s Bank Statement: ITAT upholds Peak Credit Assessment by...

ITAT Upholds Deletion of Rs. 4 Crore Addition for Unexplained Expenditure, Citing Insufficient Evidence of Off-Book Payments [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the deletion of a Rs. 4 crore addition for unexplained expenditure under section 69C of Income Tax Act,1961, ruling that there was...

ITAT remands Case to CIT(A) for further Adjudication on AO's Corrigendum in Tax Assessment Orders [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) remanded the case to the Commissioner of Income Tax (Appeals) (CIT(A)) for further adjudication regarding the Assessing Officer's ( AO )...

ITAT dismisses Revenue's Appeal against Madras Cricket Club, Citing Tax Effect below Rs.60 Lakhs as per CBDT Guidelines [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the Revenue's appeal against the Madras Cricket Club,the assessee for the Assessment Year (AY) 2009-10, citing a tax effect below...

Relief to ASAN Memorial Association: ITAT Approves Statutory Deduction Claim Despite Filing Error in Income Tax Return [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal ITAT) granted relief to ASAN Memorial Association, allowing its statutory deduction claim under Section 11(1)(a) of Income Tax Act,1961 despite a...

ITAT upholds CIT(A) Ruling on Accounting Manipulation and Tax Evasion Due to Insufficient Evidence [Read Order]

The Chennai Bench of Income Tax Appellate Tribunal(ITAT) upheld the ruling of the Commissioner of Income Tax (Appeals) [CIT(A)] regarding accounting manipulation and tax evasion due to insufficient...

S.80G(5) Registration Application Submitted Afresh within Extended Time: ITAT directs CIT(E) to consider Application [Read Order]

In a recent case, the Income Tax Appellate Tribunal ( ITAT ) of Chennai directed the Commissioner of Income Tax (Exemption) [ CIT (E) ] to consider the fresh application submitted by a Trust as per...

Penalty u/s 271B for Not Filing Audit Report: ITAT upholds Order [Read Order]

Recently the Income Tax Appellate Tribunal (ITAT) Chennai dismissed an appeal made for the deletion of penalty imposed under section 271 of the Income Tax Act 1961 (ITA), as ordered by the...