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ALP recomputed by TPO is Invalid as Assesee Followed Prescribed method (TNMM) u/s 92C of Income Tax Act : ITAT allows appeal of Schaeffler India Ltd [Read Order]

Yogitha S. Yogesh

In a recent case, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal of Schaeffler India Ltd. on finding that ALP...

FM Directs Income Tax Dept to Expedite Dispute Resolution, Withdraw Appeals Below New Threshold in 3...

ITAT Restores Assessee’s Case for Fresh Consideration: Rules Ex-parte Dismissal by NFAC Violated...

ITAT bars CIT(A) from Remand Without First Deciding Jurisdiction in Time-Barred Reassessment Case...

No Notice u/s 148 Served to BCI Delhi for initiating Proceedings u/s 144: ITAT restores Matter to...

CSR Donation to Gujarat CM Swachchta Nidhi Eligible for Section 80G Deduction: ITAT [Read Order]

The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has held that Corporate Social Responsibility (CSR) donations made to the Mukhyamantri Shree Swachchta Nidhi, Gujarat are eligible for...

ITAT Enforces CBDT Threshold: Revenue's Rs. 12.82 Lakh Appeal Dismissed under Rs. 60 Lakh Limit [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, dismissed an appeal filed by the Revenue Department citing the Central Board of Direct Taxes (CBDT) monetary limit for filing appeals. The...

Cash Deposits Duly Recorded in Books Cannot Be Taxed as Unexplained Money Without Rejecting Accounts: ITAT [Read Order]

The Patna Bench of the Income Tax Appellate Tribunal ( ITAT ) held that cash deposits made during the demonetization period cannot be treated as unexplained money under Section 69A of the Income Tax...

ITAT dismisses Appeal as Taxpayer Opts for Settlement under Vivad Se Vishwas Scheme with Liberty to Restore [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) dismissed an appeal after the assessee opted to settle the pending dispute under the Vivad Se Vishwas Scheme (VSVS), 2024. The Tribunal,...

ITAT Dismisses Revenue's Appeal as Tax Effect Falls Below CBDT's Rs. 60 Lakh Threshold [Read Order]

The Income Tax Appellate Tribunal (ITAT) Kolkata bench has dismissed an appeal filed by the Income Tax Department against Intime Vanijya Private Limited, citing that the disputed tax amount of Rs....

Failure to Establish Source of Income: ITAT restricts Addition of Income to 25% [Read Order]

The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently restricted the addition of unestablished income to 25% noting that the assessee failed to establish the source of the said...

No Possession, No Taxation: ITAT Deletes Capital Gains Addition u/s 2(47) of Income Tax Act [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has remanded a matter back to the Assessing Officer for fresh verification in a case involving alleged capital gains based on a cancelled...