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Brokerage Addition of ₹20.30 Lakh by Relying on Rough Jottings Without Corroborative Evidence Unsustainable: ITAT [Read Order]

Franklin Joshva

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 20,30,000/- on account of alleged unaccounted brokerage...

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,...

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

Technical dismissal of Appeal by FAA for ₹1.42Cr Loss Set-off Claim: ITAT restores to AO for Denovo...

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...

Disallowance of ₹7,24,937 Deferred Interest u/s 40(a)(ia) for TDS Non-Deduction: ITAT Deletes Addition on Payee’s Tax Certificate [Read Order]

The Jabalpur Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition of ₹7,24,937 deferred interest under section 40(a)(ia) of Income Tax Act,1961, for Tax Deducted at Source (TDS) ...

ITAT Quashes Income Tax Assessment Against Vipul Mittal Over Pecuniary Jurisdiction [Read Order]

The bench of the Income Tax Appellate Tribunal, Delhi, quashed the assessment framed against the assessee after holding that the scrutiny notice under Section 143(2) of the Income Tax Act, 1961,...

ITAT Orders Fresh Probe into ₹3.17 Crore Cash Deposits in Egg Trade [Read Order]

Thebench of the Income Tax Appellate Tribunal, Mumbai , has set aside an appeal involving unexplained cash deposits and remanded the matter back to the Assessing Officer for fresh adjudication. The...

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