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Non-Appearance Due to Health Issues: ITAT Remands Business Income Estimation Matter for Reconsideration [Read Order]

Kavi Priya

The Visakhapatnam Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the matter of business income estimation for reconsideration citing...

Capital Subsidy should be reduced for Computation of Book Profit u/s 115JB of Income Tax Act: ITAT...

ITAT Rules in Favor of Assessee, Strikes Down Taxation of Loan in Incorrect Assessment Year [Read...

ITAT upholds Reopening of Assessment u/s 147, Citing Sufficient Reasons and Compliance with...

AO Overlaps Unexplained Income with Declared Turnover: ITAT deletes Incorrect Addition and Lowers...

₹46 Lakh Ex-Parte Income Tax Addition after Assessment u/s 144 & 147 w/o Opportunity to adduce Evidence: ITAT Remits matter [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) recently set aside the addition of Rs.46,58,891/- made to an Income Tax Assessment passed under Sections 144 and 147 of the Income Tax...

Investors Proven Genuine: ITAT quashes Additions u/s 68 and Revision Order [Read Order]

In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) quashed additions under section 68 of the Income Tax Act, 1961, and the revisionary order passed by the Principal...

Incomplete Construction of New House Property: ITAT upholds Exemption u/s 54 towards Amount Utilized [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) held that exemption under Section 54 of the Income Tax Act,1961 can be allowed based on the amount utilized out of the sale...

Sale Deed Does not Verify Classification of Land as Agricultural for Taxation Purposes: Delhi HC [Read Order]

The Delhi High Court in a significant case has held that sale deed is not a document issued by the revenue authorities or any government authority which would certify the agricultural nature of...

Delhi High Court - Delhi HC - Agricultural Land Tax - Land Tax - Sale Deed - TAXSCAN

Incorrect Exclusion of Interest Income: ITAT upholds Exemption for BAOU u/s 10(23C)(iiiab) earlier denied by CIT(E) [Read order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld Dr. Babasaheb Ambedkar Open University’s ( BAOU ),the assessee’s exemption under Section 10(23C)(iiiab) of the Income Tax Act,1961...

CIT(A) Deleted Rs.120.55 Crore Income Tax Addition In Hasty Manner: Gauhati HC Refuses to Initiate Disciplinary Action Against CIT(A) [Read Order]

The Gauhati High Court has held that disciplinary action against CIT (A) could not be initiated for deleting Rs. 120.55 crore income tax addition in a hasty manner. The court held that the gravity of...

ITAT Partially upholds Addition of Rs.79.35 Lakh as Unexplained Investment, grants Time for Further Documentation [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) partially upheld the addition of RS.79.35 lakh as unexplained investment related to the property purchase made by the assessee and...

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