![Reassessment based on casual Non-Application of Mind and borrowed Satisfaction: ITAT Quashes Proceedings [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116121-reassessment-itat-taxscan.jfif "Reassessment based on casual Non-Application of Mind and borrowed Satisfaction: ITAT Quashes Proceedings [Read Order]")
Reassessment based on casual Non-Application of Mind and borrowed Satisfaction: ITAT Quashes Proceedings [Read Order]
The Guwahati Bench of the Income Tax Appellate Tribunal (ITAT) held that the AO had reopened the case with a "complete non-application of mind,"...
![Rule of consistency Prevails: ITAT Rules Percentage completion cannot be forced when Taxpayer follows Project Completion Method [Read Order]](https://images.taxscan.in/h-upload/2025/12/30/250x150_2116005-rule-consistency-prevails-itat-rules-percentage-completion-cannot-forced-taxpayer-follows-project-completion-method-taxscan.webp "Rule of consistency Prevails: ITAT Rules Percentage completion cannot be forced when Taxpayer follows Project Completion Method [Read Order]")
![Loose Sheets without Third-Party Confirmation Insufficient for Addition u/s 69C: ITAT Directs Profit Estimation at 7% [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/250x150_2115693-income-tax-addition-taxscan.jfif "Loose Sheets without Third-Party Confirmation Insufficient for Addition u/s 69C: ITAT Directs Profit Estimation at 7% [Read Order]")
![Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/250x150_2115716-only-profit-element-must-be-taxed-in-unrecorded-business-receipts-taxsan.webp "Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]")
![Loan Transaction Validated by Furnishing Identity and Creditworthiness of Creditors: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-ITAT-Income-Tax-Income-Tax-Act-ITAT-ruling-on-loan-transaction-Section-68-Income-Tax-Act-Taxscan.jpg "Loan Transaction Validated by Furnishing Identity and Creditworthiness of Creditors: ITAT deletes Addition u/s 68 of Income Tax Act [Read Order]")
Receipts by Taxpayer cannot be added to Income for Non-Compliance of Summons under Section 131 of Income Tax Act: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the receipts by the taxpayer cannot be added to income for non-compliance of summons under Section 131 of the Income Tax Act,...
![Receipts by Taxpayer cannot be added to Income for Non-Compliance of Summons under Section 131 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Kolkata-ITAT-Income-Tax-Income-Tax-Act-Section-131-of-Income-Tax-Act-ITAT-decision-on-taxpayer-receipts-Taxscan.jpg "Receipts by Taxpayer cannot be added to Income for Non-Compliance of Summons under Section 131 of Income Tax Act: ITAT [Read Order]")
Authorities Fails to Realise Company’s Running Maintenance Office Expense: ITAT allows expenses u/s 24 (a) of Income Tax Act [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) approved the claim for the company's ongoing office maintenance expenses under Section 24(a) of the Income Tax Act, 1961, which the...
![Authorities Fails to Realise Company’s Running Maintenance Office Expense: ITAT allows expenses u/s 24 (a) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-Kolkata-Income-Tax-Act-Income-Tax-ITAT-Decision-on-Office-Maintenance-Expense-Office-Maintenance-Expense-Taxscan.jpg "Authorities Fails to Realise Company’s Running Maintenance Office Expense: ITAT allows expenses u/s 24 (a) of Income Tax Act [Read Order]")
Credit of Foreign Tax Cannot be denied for Not Filing Form 67 within Due Date of ITR u/s 139 (1) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ),Kolkata, has clarified that the credit of foreign tax cannot be denied solely for not filing Form 67 within due date of the Income Tax Return ( ITR ) under...
![Credit of Foreign Tax Cannot be denied for Not Filing Form 67 within Due Date of ITR u/s 139 (1) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/Credit-Foreign-Tax-Not-Filing-Form-67-Due-Date-ITR-itat-taxscan.jpg "Credit of Foreign Tax Cannot be denied for Not Filing Form 67 within Due Date of ITR u/s 139 (1) of Income Tax Act: ITAT [Read Order]")
AO cannot direct to produce Profit and Loss Account to show source of Expenditure not recorded in Gross Receipt u/s 44AD: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench, held that the assessing officer could not direct the assessee to produce a profit and loss account to show the source of expenditure when the...
![AO cannot direct to produce Profit and Loss Account to show source of Expenditure not recorded in Gross Receipt u/s 44AD: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/AO-direct-to-produce-Profit-and-Loss-Account-to-show-source-of-Expenditure-recorded-in-Gross-Receipt-ITAT-deletes-Penalty-TAXSCAN.jpg "AO cannot direct to produce Profit and Loss Account to show source of Expenditure not recorded in Gross Receipt u/s 44AD: ITAT deletes Penalty [Read Order]")
Lower Quality Goods supplied to Sister Concern under Discount credited books of account: ITAT upholds quashing of Reassessment [Read Order]
The Income Tax Appellate Tribunal (ITAT), Raipur bench, observed that goods supplied to a sister concern under a discount amount had been credited to the books of account of the assessee. Therefore,...
![Lower Quality Goods supplied to Sister Concern under Discount credited books of account: ITAT upholds quashing of Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Lower-Quality-Goods-supplied-Sister-Concern-Discount-credited-books-account-ITAT-upholds-Reassessment-TAXSCAN.jpg "Lower Quality Goods supplied to Sister Concern under Discount credited books of account: ITAT upholds quashing of Reassessment [Read Order]")
Additions can't be allowed on Unsecured loans incurred wholly and exclusively for Purpose of Business: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that additions cannot be allowed on unsecured loans incurred wholly and exclusively for the purpose of business. The Assessing...
![Additions cant be allowed on Unsecured loans incurred wholly and exclusively for Purpose of Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Additions-Unsecured-loans-incurred-wholly-and-exclusively-for-Purpose-of-Business-ITAT-TAXSCAN.jpg "Additions cant be allowed on Unsecured loans incurred wholly and exclusively for Purpose of Business: ITAT [Read Order]")
Addition u/s 69B can't be made by AO purely based upon conjectures/surmises and without considering Evidences produced: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the addition under Section 69B of the Income Tax Act, 1961 cannot be made by the Assessing Officer purely based upon the...
![Addition u/s 69B cant be made by AO purely based upon conjectures/surmises and without considering Evidences produced: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-purely-based-upon-conjectures-surmises-and-without-considering-Evidences-produced-ITAT-TAXSCAN.jpg "Addition u/s 69B cant be made by AO purely based upon conjectures/surmises and without considering Evidences produced: ITAT [Read Order]")