![Error in Reading Jewellery Sale as Purchase Costs CIT(A); ITAT Orders Fresh Look at Cash Deposit Addition [Read Order]](https://images.taxscan.in/h-upload/2025/10/07/500x300_2094646-cash-deposit-addition-quashed-itat-rule-sales-audited-books-vat-returns.webp "Error in Reading Jewellery Sale as Purchase Costs CIT(A); ITAT Orders Fresh Look at Cash Deposit Addition [Read Order]")
Error in Reading Jewellery Sale as Purchase Costs CIT(A); ITAT Orders Fresh Look at Cash Deposit Addition [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal has set aside an order of the Commissioner of Income Tax (Appeals) after finding that a ...
![Disallowance of ₹16.28 Lakh Bogus Purchase without Rejection of Books: ITAT Restricts Addition to ₹1.29 Lakh Applying GP Rate [Read Order]](https://images.taxscan.in/h-upload/2025/09/20/250x150_2089034-disallowance-bogus-purchase-itat-restricts-addition-taxscan.webp "Disallowance of ₹16.28 Lakh Bogus Purchase without Rejection of Books: ITAT Restricts Addition to ₹1.29 Lakh Applying GP Rate [Read Order]")
![Cash Withdrawals During Demonetisation Taxed u/s 68: ITAT Deletes ₹62 Lakh Addition treating them as Business Turnover [Read Order]](https://images.taxscan.in/h-upload/2025/09/18/250x150_2088266-cash-withdrawals-demonetisation-itat-business-turnover-taxscan.webp "Cash Withdrawals During Demonetisation Taxed u/s 68: ITAT Deletes ₹62 Lakh Addition treating them as Business Turnover [Read Order]")
![Addition of Rs. 6.75 Lakh Gifts from Sister and Father-in-Law by AO: ITAT Deletes Addition, Accepts Proof of Receipt [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/250x150_2080811-gifts-father-in-law-itat-proof-of-receipt-gifts-from-sister-and-father-in-law-taxscan.webp "Addition of Rs. 6.75 Lakh Gifts from Sister and Father-in-Law by AO: ITAT Deletes Addition, Accepts Proof of Receipt [Read Order]")
![Charitable Institution Free to use Accumulated Income up to 5 years without Prior Exhaustion of Current Year’s Income: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/250x150_2080317-charitable-institution-accumulated-income-itat-taxscan.webp "Charitable Institution Free to use Accumulated Income up to 5 years without Prior Exhaustion of Current Year’s Income: ITAT [Read Order]")
![ITAT Reduces Disallowance of Foreign Travel Expenses to 25% Due to Partial Documentation [Read Order]](https://images.taxscan.in/h-upload/2025/08/20/500x300_2078599-foreign-travel-expense-taxscan.webp "ITAT Reduces Disallowance of Foreign Travel Expenses to 25% Due to Partial Documentation [Read Order]")
AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]
In a recent ruling, the Bombay High Court held that an Assessing Officer cannot go beyond the net profit shown in the profit and loss account except to the extent permitted in the Explanation to...
![AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]](https://images.taxscan.in/h-upload/2025/08/18/500x300_2078071-ao-beyond-net-profit-pl-except-explanation-section-115j-bombay-hc-mahindra-case-taxscan.webp "AO Cannot Go Beyond Net Profit in P&L Except as Permitted under Explanation to Section 115J: Bombay HC in Mahindra Case [Read Order]")
Bonafide Error in Claiming 15% Depreciation Instead of 7.5%: ITAT finds Assessee Eligible for Additional Depreciation u/s 32(1)(iia) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) held that a bonafide error in claiming 15% depreciation instead of the eligible 7.5% on plant and machinery used for less than 180 days ...
![Bonafide Error in Claiming 15% Depreciation Instead of 7.5%: ITAT finds Assessee Eligible for Additional Depreciation u/s 32(1)(iia) [Read Order]](https://images.taxscan.in/h-upload/2025/08/10/500x300_2075264-bonafide-error-bonafide-error-in-claiming-15-depreciation-taxscan.webp "Bonafide Error in Claiming 15% Depreciation Instead of 7.5%: ITAT finds Assessee Eligible for Additional Depreciation u/s 32(1)(iia) [Read Order]")
Cash Deposits Treated as Unexplained u/s 69A: ITAT Restores Matter to AO Noting Failure to Examine Debit Entries and Additional Evidence [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) restored the matter to the Assessing Officer (AO) after noting that cash deposits of ₹18.32 lakh were treated as unexplained under ...
![Cash Deposits Treated as Unexplained u/s 69A: ITAT Restores Matter to AO Noting Failure to Examine Debit Entries and Additional Evidence [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/500x300_2071595-cash-deposits-cash-deposits-treated-cash-deposits-treated-as-unexplained-taxsacn.webp "Cash Deposits Treated as Unexplained u/s 69A: ITAT Restores Matter to AO Noting Failure to Examine Debit Entries and Additional Evidence [Read Order]")
Reassessment Invalid Due to Lack of New Tangible Material and Credible Information: ITAT Quashes ₹33.81 Lakh Addition [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the reassessment under Section 147 of the Income TaxAct, 1961, was invalid due to the lack of new tangible material and credible...
![Reassessment Invalid Due to Lack of New Tangible Material and Credible Information: ITAT Quashes ₹33.81 Lakh Addition [Read Order]](https://images.taxscan.in/h-upload/2025/07/31/500x300_2071541-reassessment-itat-taxscan.webp "Reassessment Invalid Due to Lack of New Tangible Material and Credible Information: ITAT Quashes ₹33.81 Lakh Addition [Read Order]")