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Relief to Gujarat Technological University: ITAT Condones Delay in Filing Form 10B, citing Income Tax Portal Difficulties [Read Order]

Yogitha S. Yogesh

The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench condoned the delay by the Gujarat Technological University in filing Form 10 B as the...

Only 10 Cr Disallowed out of Rs. 35cr Depreciation Allowance Claimed by Oriental Insurance Co. Ltd...

ITAT upholds Upward Adjustment of Management Support Services on TVS [Read Order]

Taxability of Industrial promotional subsidy received by Mahindra & Mahindra Limited: ITAT directs...

₹14 Lakh Cash Loan Addition Deleted: ITAT Holds Seized Cheques Belong to Director Personally, Not...

Search Assessments Valid as Approved by JCIT: ITAT says Additions were made Based on Incriminating Materials [Read Order]

The Cochin Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the search assessments search assessments framed under section 153A of the Income Tax Act, 1961 and dismissed the assessee’s...

Only Profit Element Taxable as Sales and Manufacturing Activity is Not Disputed: ITAT upholds Restriction of Disallowance to 12.5% on Bogus Purchases [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the order of the Commissioner of Income Tax (Appeals) ( CIT(A) ) restricting disallowance on alleged bogus purchases to 12.5%...

[BREAKING] ITAT allows Income Tax Rebate u/s 87A on STCG under New Regime [Read Order]

In a major relief to minor investors, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has allowed the appeal of the assessee and held that the rebate under Section 87A of the Income Tax...

Erroneous Double Addition of ₹13.32 Lakh in Income Computation: ITAT Directs AO to Correct and Recompute Taxable Income [Read Order]

The Rajkot Bench of Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer (AO) to correct the erroneous double addition of ₹13.32 lakh in the assessee’s income computation and ...

Non-Compliance with Statutory Notices and Absence of Verifiable Stock Evidence: ITAT Sustains ₹68.07 Lakh Addition as Unexplained Investment [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the addition of ₹68.07 lakh as unexplained investment under Section 69 of the Income Tax Act, 1961, was justified due to the...

ITAT Deletes ₹3 Crore Addition Made on Cash Deposits During Demonetization: Upholds Gold Jewellery Firm’s Sales as Genuine [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the deletion of a ₹3.02 crore addition made under Section 68 of the Income Tax Act. The case involved Ankit Gold Ltd., a...

Section 14A Disallowance Restricted to Exempt Income Investments: ITAT Upholds CIT(A)’s Order, Rejects Retrospective Amendment Application [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that disallowance should be restricted to investments that actually yielded exempt income, rejecting the Revenue’s contention for ...