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₹4.81L Housing Loan Repayment Treated as Unexplained u/s 69C: ITAT Remands Matter to AO for Reassessment After Reviewing Assessee’s Evidence [Read Order]

The Panaji Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO), as the Assessing Officer had treated...

Relief for Huawei: Delhi HC Sets Aside S.148A(3) Order and S.148 Notice, Directs AO to Pass Fresh...

Unexplained Deposits of ₹41.02 Lakh Restored to AO: ITAT Cites Illiteracy, Allows Additional...

Brokerage Addition of ₹20.30 Lakh by Relying on Rough Jottings Without Corroborative Evidence...

Commission Income of Cooperative Society u/s 80P: ITAT Allows Withdrawal of Revenue Appeal as Tax...

AO rejects Deduction u/s 10AA due to Delaying filing Form 56F: ITAT rules Forms are Directory, cannot take away Rights [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) Ahmedabad bench has dismissed the Revenue’s appeal against the allowance of deduction under Section 10AA of the Income-tax Act, 1961 which was rejected...

ITAT Backs PCIT’s Revision; Interest on Bogus Loans Can’t Be Allowed as Deduction [Read Order]

The Income Tax Appellate Tribunal Ahmedabad Bench upheld an order that directed the disallowance of interest on unsecured loans that were already treated as unexplained. The tribunal stated that...

Technical dismissal of Appeal by FAA for ₹1.42Cr Loss Set-off Claim: ITAT restores to AO for Denovo Adjudication [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) set aside the First Appellate Authority’s (FAA) technical dismissal of appeal regarding disallowance of losses of ₹1.42 crore set...

Contradictory Approach of AO Invalidates S.154 Jurisdiction: ITAT Deletes ₹2.06 Crore Expense Disallowance in Property Developer's Income Tax Appeal [Read Order]

The bench of the Income Tax Appellate Tribunal, Mumbai, has held that disallowance of ₹2.06 crore under Section 154 of the Income Tax Act, 1961, was unsustainable, as the provision for expenses...

Deduction u/s 80JJAA Disallowed for Non-Filing of Form 10DA: ITAT Restores Matter to AO, Treating Lapse as Technical [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) restored the matter to the Assessing Officer (AO), treating the disallowance of deduction under section 80JJAA of Income Tax Act,1961, for...

Lack of Valid Approval under Section 153D: ITAT quashes Income Tax Assessment [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has quashed an assessment order passed against assessee Paramasivam Mahalingam for the Assessment Year (AY) 2014-15, holding that the ...

Fully Verifiable Business Transactions: ITAT quashes Higher Income Tax Imposition u/s 115BBE [Read Order]

The JaipurBench of Income Tax Appellate Tribunal (ITAT) quashed the 60% tax rate u/s 115BBE, holding that the cash represented fully verifiable business. The assessee, Mahendra Singh...

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