![ITAT Condones Delay in Appeal Due to serious dispute among Partners, Remands Case for Fresh Assessment with Costs [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-condones-delay-appeal-serious-dispute-partners-remands-case-fresh-assessment-costs-ITAT-Bangalore-taxscan-1.jpg "ITAT Condones Delay in Appeal Due to serious dispute among Partners, Remands Case for Fresh Assessment with Costs [Read Order]")
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...
![Disallowance of Interest Expenses on Alleged Fund Misuse: ITAT Allows Citing Lack of Nexus Between Borrowed Funds and Personal Investments [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Disallowance-of-Interest-Expenses-Alleged-Fund-Misuse-ITAT-Assessment-Years-Assessment-CIT-assessment-order-Income-Tax-Return-ITR-personal-investments-AO-Taxscan.jpg "Disallowance of Interest Expenses on Alleged Fund Misuse: ITAT Allows Citing Lack of Nexus Between Borrowed Funds and Personal Investments [Read Order]")
![Trader Sold Opening Stock at Discounted Rates Leading to Higher Sales Compared to Previous Years: ITAT deletes ₹32 Lakh Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Trader-Trader-Sold-Opening-Stock-ITAT-Assessing-income-from-undisclosed-sources-higher-sales-opening-stock-sales-tax-returns-assessees-counsel-Pawan-International-Taxscan.jpg "Trader Sold Opening Stock at Discounted Rates Leading to Higher Sales Compared to Previous Years: ITAT deletes ₹32 Lakh Addition [Read Order]")
![No Addition Warranted on Alleged Bogus Purchases When GP Rate Exceeds Genuine Purchases: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Mumbai-Bogus-Purchases-Genuine-Purchases-No-Addition-Warrante-GP-rate-alleged-bogus-purchases-export-transactions-reopened-assessment-Taxscan.jpg "No Addition Warranted on Alleged Bogus Purchases When GP Rate Exceeds Genuine Purchases: ITAT [Read Order]")
Delay in filing appeal due to pending cases in civil courts and financial struggle: ITAT condones 180 days delay [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) condoned the delay of 180 days for delay in filing appeal due to pending cases in civil courts and financial struggle of the assessee. ...
![Delay in filing appeal due to pending cases in civil courts and financial struggle: ITAT condones 180 days delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/TAT-condones-delay-ITAT-Pune-Appeal-delay-due-to-civil-court-cases-ITAT-lenient-on-delay-Delay-condonation-petition-taxscan.jpg "Delay in filing appeal due to pending cases in civil courts and financial struggle: ITAT condones 180 days delay [Read Order]")
Discrepancy in FMV: ITAT Directs AO to Determine by Conducting Thorough Fact-Finding Process, Applying Explanation u/s 56(2)(viib)[Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to Determine the Fair Market Value (FMV) of Shares by conducting a thorough Fact-Finding Process and...
![Discrepancy in FMV: ITAT Directs AO to Determine by Conducting Thorough Fact-Finding Process, Applying Explanation u/s 56(2)(viib)[Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Discrepancy-in-FMV-ITAT-ITAT-Directs-AO-to-Determine-Fact-Finding-Process-Chennai-Bench-of-ITAT-Fair-Market-Value-Income-tax-Income-tax-news-Commissioner-of-Income-Tax-Taxscan.jpg "Discrepancy in FMV: ITAT Directs AO to Determine by Conducting Thorough Fact-Finding Process, Applying Explanation u/s 56(2)(viib)[Read Order]")
![Credit Card Misuse by Friend Not Attributable as Personal Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Ahmedabad-Credit-Card-Friends-expenses-Not-personal-expenditure-ITAT-ruling-Business-purpose-Legitimate-deduction-Non-personal-liability-taxscan.jpg "Credit Card Misuse by Friend Not Attributable as Personal Expenditure: ITAT [Read Order]")
![Delay in Filing Appeal Due to Multiple PANs: ITAT Restores Case to AO for Fresh Hearing [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Kolkata-Filing-Appeal-Multiple-PAN-cards-AO-for-Fresh-Hearing-Income-Tax-Appellate-Tribunal-Income-Tax-taxscan.jpg "Delay in Filing Appeal Due to Multiple PANs: ITAT Restores Case to AO for Fresh Hearing [Read Order]")
Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness Proven [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) ruled that Section 68 of Income Tax Act,1961 did not apply to Corporate Social Responsibility (CSR) funds received by the assessee and...
![Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness Proven [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/CSR-Funds-ITAT-Rules-ITAT-Ahmedabad-ITAT-Income-Tax-Act-Section-68-Corporate-Social-Responsibility-Income-Tax-Income-Tax-Appellate-Tribunal-taxscan.jpg "Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness Proven [Read Order]")
Addition of ₹20.44 Lakh as Unexplained Cash Deposits During Demonetization: ITAT Directs Fresh Adjudication [Read Order]
The Agra Bench of Income Tax Appellate Tribunal(ITAT) set aside the Commissioner of Income Tax(Appeals)[CIT(A)] order and directed for fresh adjudication regarding the addition of ₹20.44 lakh as...
![Addition of ₹20.44 Lakh as Unexplained Cash Deposits During Demonetization: ITAT Directs Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Unexplained-Cash-Deposits-ITAT-Commissioner-of-Income-Tax-Specified-Financial-Transactions-demonetization-period-demonetized-currency-Demonetization-SFT-Income-Tax-Returns-Taxscan.jpg "Addition of ₹20.44 Lakh as Unexplained Cash Deposits During Demonetization: ITAT Directs Fresh Adjudication [Read Order]")
AO cannot question Creditor's Creditworthiness When Books Clearly Reflect Source, Identity, and Repayment of Funds: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the Assessing Officer ( AO ) cannot question the creditworthiness of creditors when the assessee’s books of account and...
![AO cannot question Creditors Creditworthiness When Books Clearly Reflect Source, Identity, and Repayment of Funds: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Income-Tax-ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-TAXSCAN.jpg "AO cannot question Creditors Creditworthiness When Books Clearly Reflect Source, Identity, and Repayment of Funds: ITAT [Read Order]")