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S. 14A Disallowance Not Applicable Without Exempt Income: ITAT quashes Revision Order [Read Order]

Manu Sharma

The Income Tax Appellate Tribunal, Delhi Bench, has quashed a revisionary order passed under Section 263 of the Income Tax Act, 1961 and held that...

Disallowance of Agricultural Income in Revisionary Proceedings: ITAT Deletes Addition, Confirms...

CIT’s Order to Recompute Tamil Nadu Cements’ Set-Off Valid as Method Used Was Faulty: Madras HC...

ITAT Weekly Round-Up [ June 26th - July 5th ]

No Error in AO’s Order, Interest Deduction u/s 24(b) on Property Loan Valid: ITAT overturns PCIT’s...

Disclosure alone Insufficient to Escape Applicability of Section 69A: ITAT [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has held that mere disclosure of undisclosed income in tax returns is not sufficient to shield an assessee from...

ITAT upholds Revision on AO's Lapses in Verifying TDS on Rent and Unsecured Loans [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has upheld the Principal Commissioner of Income Tax’s (PCIT) revisionary action under Section 263 of the Income Tax Act, 1961, against the...

Accommodation Entry Transactions: ITAT quashes Revision Order upholding Plausible View by AO [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has quashed a revision order passed under Section 263 of the Income Tax Act, 1961, in a case involving alleged accommodation entry...

Relief for Adani Power: ITAT Invalidates Revision Order Passed Against Non-Existent Entity [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a revision order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, after...

An analysis of key ITAT (Income Tax Appellate Tribunal) rulings

A number of landmark decisions under the Direct Tax Laws redefined legal interpretations and procedural frameworks, ushering in a new age of taxation in India. From exemptions, procedural...

Steel Scrap or Tax Trap? ITAT Slams PCIT’s Overreach in Ahmedabad Bizman’s Case [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad, overturned a revision order by the Principal Commissioner of Income Tax (PCIT) against Vivaa Tradecom Pvt. Ltd., ruling that the tax authority...

ITAT Partly Sets Aside Order u/s 263 for Improper Mandatory Direction to Add Accommodation Entries [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad has partly set aside an order passed under Section 263 of the Income Tax Act, 1961, where the Principal Commissioner of Income Tax ( PCIT )...