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Disallowance of Rs. 2.97 Crore as Bogus Expenditure u/s 69C: ITAT Upholds 10% Disallowance [Read Order]

Sneha Sukumaran Mullakkal

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) upheld a 10% disallowance of Rs. 29.71 lakh out of Rs. 2.97 crore claimed as bogus...

Adani Infrastructure Gets Relief from ITAT: Revision Order Passed by PCIT Set Aside Due to Lack of...

Income Tax Amendment of Section 80AC Not Retrospective: ITAT Allows 80P Deduction [Read Order]

ITAT upholds Disallowance on Bad Debts, limits Unrecovered Debtors' Balance to Rs.228.87 lakhs [Read...

Disallowance of deduction made u/s 80P Beyond Scope of Section 143(1): ITAT [Read Order]

TPO already made Adjustments on Information & Technology Fees: ITAT deletes AO's Protective Addition [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) deleted the protective addition made by the Assessing Officer (AO) because the Transfer Pricing Officer (TPO) had already made...

Disallowance of Depreciation Due to Lack of Evidence for Machinery Installation: ITAT Restores AO's Order [Read Order]

The Visakhapatnam Bench of Income Tax Appellate Tribunal (ITAT)restored the order of the Assessing Officer (AO) by disallowing the depreciation claim of ₹2,66,81,164 due to the lack of evidence for...

ITAT Rules Abandoned IPO Expenses as Revenue in Nature, Deletes Disallowance u/s 37(1) [Read Order]

The Pune Bench of Income Tax Appellate Tribunal (ITAT) has held that expenses incurred on an abandoned Initial Public Offering (IPO) are revenue in nature and directed the deletion of the...

ITAT upholds Disallowance of Knitting Charges Under Section 40A(3), allows Set-Off of Carry Forward Losses [Read Order]

In a recent ruling, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) upheld the disallowance of ₹88 Lakhs in knitting charges under Section 40A(3) as cash payments exceeding the...

Disallowance should not Exceed the Amount of Exempt income: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance should not exceed the amount of exempt income. The assessee, Ambuja Neotia Hotel Ventures, had appealed...

Disallowance of ₹96.71 Lakh Foreign Exchange Loss on Import-Export Transactions Without Hedging: ITAT upholds CIT(A)’s Decision [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax Appeals(CIT(A))'s decision on the disallowance of ₹96.71 Lakh foreign exchange loss incurred by the...

12 Lakhs TDS Disallowance u/s 40(a)(ia): ITAT Remands Case to AO for Verification and Reassessment [Read Order]

In a recent case, the Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) remanded the assessee's case to the assessment officer (AO) for proper verification concerning the returns filed in the...

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