![ITAT Holds PLR Applicable for Benchmarking Interest on Rupee-Denominated CCDs, Deletes ₹9.35 Crore TP Adjustment [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/500x300_2116531-itat-holds-plr-applicable-for-benchmarking-taxscan.webp "ITAT Holds PLR Applicable for Benchmarking Interest on Rupee-Denominated CCDs, Deletes ₹9.35 Crore TP Adjustment [Read Order]")
ITAT Holds PLR Applicable for Benchmarking Interest on Rupee-Denominated CCDs, Deletes ₹9.35 Crore TP Adjustment [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that interest paid on rupee-denominated convertible debentures cannot be...
![PCIT found to have Erred in Exercising Revisionary Powers u/s 263: ITAT sets aside Revisionary Order [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/250x150_2116500-exercising-revisionary-powers-itat-revisionary-order-taxscan.webp "PCIT found to have Erred in Exercising Revisionary Powers u/s 263: ITAT sets aside Revisionary Order [Read Order]")
![Only Profit Element Taxable in Bogus Purchase Cases : ITAT Reduces Gross Profit Addition to 11% [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/250x150_2116504-only-profit-element-taxable-in-bogus-purchase-cases-itat-reduces-gross-profit-addition.webp "Only Profit Element Taxable in Bogus Purchase Cases : ITAT Reduces Gross Profit Addition to 11% [Read Order]")
![Unauthenticated Excel Sheets and Emails Sent by Lenders deemed Dumb Documents for interest Addition: ITAT quashes order [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/250x150_2116429-unauthenticated-excel-sheets-emails-sent-lenders-deemed-dumb-documents-interest-addition-itat-quashes-order-taxscan.webp "Unauthenticated Excel Sheets and Emails Sent by Lenders deemed Dumb Documents for interest Addition: ITAT quashes order [Read Order]")
![Third-Party Statements and Documents Insufficient for S. 153A Jurisdiction: ITAT Quashes Assessments for Multiple Unabated Years [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/250x150_2116406-third-party-statements-and-documents-insufficient-for-s-153a-jurisdiction-itat-quashes-assessments-for-multiple-unabated-years-taxscan.webp "Third-Party Statements and Documents Insufficient for S. 153A Jurisdiction: ITAT Quashes Assessments for Multiple Unabated Years [Read Order]")
Consolidated Approval u/s 153D for Multiple Taxpayers and Years in a Mechanical Manner: ITAT Invalidates Search Assessment [Read Order]
The Guwahati Bench of the Income Tax AppellateTribunal (ITAT) quashed search assessments and held that providing consolidated approval for multiple taxpayers and years in a mechanical manner is...
![Consolidated Approval u/s 153D for Multiple Taxpayers and Years in a Mechanical Manner: ITAT Invalidates Search Assessment [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116272-consolidated-approval-us-153d-for-multiple-taxpayers-and-years-in-a-mechanical-manner-itat-invalidates-search-assessment-taxscan.webp "Consolidated Approval u/s 153D for Multiple Taxpayers and Years in a Mechanical Manner: ITAT Invalidates Search Assessment [Read Order]")
Notices to suspend activities and Maintain Status Quo Not Seizure: ITAT Rules closing stock cannot be valued at Nil, Remands for valuation
The Bangalore Bench of the Income TaxAppellate Tribunal (ITAT) ruled that administrative notices directing a taxpayer to suspend mining activities and maintain status quo did not constitute a legal...
Assessment Order Passed on Same Date as S.151A Modified via Notification: ITAT quashes order for lack of jurisdiction [Read Order]
The Guwahati Bench of the Income Tax Appellate Tribunal (ITAT) quashed a reassessment order and held that the NFAC lacked the authority to frame an assessment on March 29, 2022, the very same day...
![Assessment Order Passed on Same Date as S.151A Modified via Notification: ITAT quashes order for lack of jurisdiction [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116129-assessment-order-lack-of-jurisdiction-taxscan.webp "Assessment Order Passed on Same Date as S.151A Modified via Notification: ITAT quashes order for lack of jurisdiction [Read Order]")
Reopening Invalid Due to Mismatch in Sanctioning Authorities and Lack of Proper Sanction u/s 151: ITAT quashes order [Read Order]
The Kolkata Bench of the Income Tax AppellateTribunal (ITAT) quashed a reassessment order due to the mismatch in sanctioning authorities and lack of proper approval required under Section 151 of...
![Reopening Invalid Due to Mismatch in Sanctioning Authorities and Lack of Proper Sanction u/s 151: ITAT quashes order [Read Order]](https://images.taxscan.in/h-upload/2025/12/30/500x300_2115923-reopening-invalid-due-mismatch-sanctioning-authorities-lack-proper-sanction-151-itat-quashes-order-taxscan.webp "Reopening Invalid Due to Mismatch in Sanctioning Authorities and Lack of Proper Sanction u/s 151: ITAT quashes order [Read Order]")
Final Income Tax Assessment Passed beyond One Month from DRP directions Barred by Limitation: ITAT Quashes order [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) quashed a final assessment order because it was issued beyond the statutory period of one month from the end of the month in which the...
![Final Income Tax Assessment Passed beyond One Month from DRP directions Barred by Limitation: ITAT Quashes order [Read Order]](https://images.taxscan.in/h-upload/2025/12/30/500x300_2115933-final-income-tax-assessment-passed-beyond-one-month-from-drp-directions-barred-by-limitation-itat-quashes-order-taxscan.webp "Final Income Tax Assessment Passed beyond One Month from DRP directions Barred by Limitation: ITAT Quashes order [Read Order]")
Entire Purchase Amount cannot be Disallowed when Sales accepted and Stock Records maintained: ITAT restricts Bogus Purchase addition to 5% [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) restricted a bogus purchase addition to 5% and ruled that the Assessing Officer (AO) cannot treat the entire purchase amount as non-genuine...
![Entire Purchase Amount cannot be Disallowed when Sales accepted and Stock Records maintained: ITAT restricts Bogus Purchase addition to 5% [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/500x300_2115681-entire-purchase-amount-cannot-be-disallowed-when-sales-accepted-and-stock-records-maintained-itat-restricts-bogus-purchase-addition-taxscan.webp "Entire Purchase Amount cannot be Disallowed when Sales accepted and Stock Records maintained: ITAT restricts Bogus Purchase addition to 5% [Read Order]")
Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) that the provision of Section 69A was not applicable to unrecorded cash transactions that represent business receipts found in...
![Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]](https://images.taxscan.in/h-upload/2025/12/29/500x300_2115716-only-profit-element-must-be-taxed-in-unrecorded-business-receipts-taxsan.webp "Only Profit Element must be Taxed in unrecorded Business Receipts: ITAT Directs Estimation of Profit at 7% on Cash Receipts [Read Order]")