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Taxpayer Unable to Collect Notice: ITAT Condones 340 Days Delay, Remands S.69A Matter [Read Order]

Franklin Joshva

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) condoned a delay of 340 days in filing an appeal considering the inability of the...

Disallowance of TDS Credit Due to Non-Inclusion of Income: ITAT Sets Aside Matter to AO for...

Failure to File Return and Pay Tax: ITAT Remands Case to CIT(A) [Read Order]

Setback to AAI: ITAT Directs Recalculation of Exempt Income Disallowance u/r 8D at 1%, Rejecting...

Relief for Air India: ITAT directs Use of Average Value u/r 8D for Accurate Investment Calculation,...

Penalty for Concealment of Income Related to Quantum Additions: ITAT Restores Matter to CIT(A) [Read Order]

The Agra Bench of Income Tax Appellate Tribunal(ITAT) restored the penalty for concealment of income related to quantum additions to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh...

ITAT Upholds ₹168.61 Crore TDS Credit Due to Form 26AS Discrepancy, Directs AO to Verify Income [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]’s decision allowing Tax Deducted at Source(TDS) credit of ₹168.61 crore, noting...

ITAT Quashes Penalty for Under-Reporting: Holds Assessee's Actions Bona Fide [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Bengaluru Bench, has quashed the penalty levied on assessee for under-reporting income, marking a significant decision in favor of...

Chhagan Bhujbal's Agricultural Income under Scanner: ITAT directs AO to Verify Sales Records [Read Order]

Chhagan Bhujbal, a prominent politician from Maharashtra and a member of the 15th Legislative Assembly, is facing scrutiny over the agricultural income declared in his tax returns for the assessment...

Addition of Rs. 21,42,857 u/s 56(2)(vii)(b)(ii): ITAT Allows Appeal for Failure to Refer Valuation to DVO [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT)allowed the appeal filed by the assessee, holding that the addition of Rs. 21,42,857 under Section 56(2)(vii)(b)(ii) of Income Tax Act,1961...

ITAT Condones Delay in Appeal Due to serious dispute among Partners, Remands Case for Fresh Assessment with Costs [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) condoned a 355-day delay in appeal due to a serious dispute among partners and remanded the matter for fresh assessment with costs. ...

Disallowance of Interest Expenses on Alleged Fund Misuse: ITAT Allows Citing Lack of Nexus Between Borrowed Funds and Personal Investments [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) allowed the interest expenses of the assessee on alleged fund misuse citing that lack of nexus between borrowed funds and personal...

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