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Disallowance u/s 56(2)(viib) Invalid Despite Evidence of Creditworthiness: ITAT upholds CIT(A) Order [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Incomme Tax(Appeals)[CIT(A)]'s order, stating that the disallowance...

May 2025 Income Tax Compliance Calendar: Key Dates and Deadlines

Arvindo Trust Scam Fallout: ITAT Dismisses Appeal Against Disallowance of Bogus Research Donation...

ITAT Allows NDTV's Business Expense Claims, Quashes Section 14A Disallowance [Read Order]

AO Failed to Consider Rule 6DD Exceptions in Cash Deposit Disallowance: ITAT Remits Case for De Novo...

Relief to Thomas Press: ITAT deletes Disallowance of Rs.1.23 Cr in Bad Debts due to Double Taxation [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT)granted relief to Thomas Press India Pvt.Ltd by deleting the disallowance of Rs. 1.23 crore in bad debts, noting that the adjustment against the...

Thomson Press's Disallowance of Export Income Deductions u/s 10B: ITAT directs AO to Reverify and Recompute Deductions [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) directed the Assessing Officer (AO) to reverify and recompute the disallowance of export income deductions under section 10B and 10AA of Income...

Incorrect Deduction in Leave Encashment Disallowance: ITAT Remands Matter to AO [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal(ITAT) restored the matter to the Assessing Officer (AO) for reconsideration of the incorrect deduction in leave encashment disallowance. TDK...

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

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 expenditure under section 69C of Income Tax Act,1961,...

Adani Infrastructure Gets Relief from ITAT: Revision Order Passed by PCIT Set Aside Due to Lack of Error and Prejudice [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench ruled in favor of the assessee, setting aside the revision order passed by the Principal Commissioner of Income Tax (PCIT)-1, Ahmedabad, under...

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

In a recent ruling, the Pune Bench of the Income Tax Appellate Tribunal (ITAT) allowed a cooperative society's claim for deduction under Section 80P of the Income Tax Act, 1961. The assessee,...

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

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the disallowance on bad debts and limited the unrecovered debtors' balance to Rs. 228.87 lakhs. The assessee was engaged in...

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