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ITAT Allows HRA Exemption of ₹7.8 Lakh for Salaried Employee, Slams CPC for Erroneous Disallowance [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench has ruled in favor of a salaried employee, allowing a house rent allowance (HRA) exemption ...

Penalty Invalid If Specific Charge u/s 270A is Not Mentioned in Income Tax SCN: ITAT Deletes...

Bonus Paid Before Due Date Despite Audit Report Error: ITAT Deletes ₹14.03 Lakh Disallowance Citing...

83-year Old Taxpayer with Diabetic Issue: ITAT Condones 332 Income Tax Appeal Delay [Read Order]

ITAT Allows Genpact to Exclude Telecom and Training Receipts from Total Turnover u/s 10AA as They...

Relief for Genpact: ITAT Allows S.10AA Deduction on Interest from FDs and Staff Loans [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) granted relief to Genpact India Pvt. Ltd. by allowing deduction under Section 10AA of Income Tax Act,1961 on interest income earned from fixed...

Non-Compliance Due to Unawareness of Proceedings: ITAT Remands ₹28.71 Lakh Unexplained Cash Deposit Addition u/s 69A to CIT(A) [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) set aside the order of the National Faceless Appeal Centre (NFAC) and remanded the matter to the Commissioner of Income Tax (Appeals) ...

Discretionary Trust created under Deceased’s Will Not Liable to Income Tax at Maximum Marginal Rate u/s 164: ITAT [Read Order]

The Ahmedabad Benchof the Income Tax Appellate Tribunal (ITAT) has held that a discretionary trust which is created under the Will of a deceased individual is not liable to income tax at the maximum...

Additions for Unexplained Cash Deposits and Loans Made Without Proper Verification : ITAT Restores Matter to AO [Raed Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) restored the matter to the Assessing Officer (AO ) for fresh adjudication after observing that additions for unexplained cash deposits...

AO made One Sided Addition u/s 68 without Examining Evidence: ITAT Remits ₹7.17 Matter for Fresh Adjudication [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an addition of Rs. 7,17,35,323/- made under Section 68 and directed the Assessing Officer (AO) to conduct a fresh ...

Incomplete Analysis of ₹2.17 Cr Unsecured Loan: ITAT Directs to Verify Documents [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has remitted the issue of a Rs. 2.17 crore addition under Section 68 of the Income Tax Act, 1961, back to the Assessing Officer (AO) for...

Expenditure Incurred on Leasehold Premises Satisfies Test of Ownership: ITAT Upholds Depreciation Deduction as Capital Expenditure [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the depreciation deduction for improvements made to leasehold premises, dismissing the revenue’s appeal against the deletion of...

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