![Karnataka HC Deletes ₹25 Lakh Gross Profit Addition, Ruling Estimate Lacked Basis Despite 95% Sales to Sister Concern [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095408-karnataka-hc-ruling-estimate-lacked-taxscan.webp "Karnataka HC Deletes ₹25 Lakh Gross Profit Addition, Ruling Estimate Lacked Basis Despite 95% Sales to Sister Concern [Read Order]")
Karnataka HC Deletes ₹25 Lakh Gross Profit Addition, Ruling Estimate Lacked Basis Despite 95% Sales to Sister Concern [Read Order]
The High Court of Karnataka, deleted the ₹25 lakh addition made towards gross profit, holding that the estimation lacked any rational basis despite...
![ITAT refuses Estimation of GP Enhancement made by AO without Considering comparable case [Read Order]](https://images.taxscan.in/h-upload/2025/09/15/250x150_2087421-gross-profit-rate-igp-enhancement-itat-taxscan.webp "ITAT refuses Estimation of GP Enhancement made by AO without Considering comparable case [Read Order]")
![Estimation of Gross Profit Rate and Unverifiable Purchases: ITAT Upholds CIT(A)s Decision to Limit GP to 1% [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Unverifiable-Purchases-ITAT-Gross-Profit-Rate-taxscan.jpg "Estimation of Gross Profit Rate and Unverifiable Purchases: ITAT Upholds CIT(A)s Decision to Limit GP to 1% [Read Order]")
![Assessment Converted from limited to Unlimited Scrutiny without Approval: ITAT Remands Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-Remands-Case-Unlimited-Scrutiny-Assessment-taxscan.jpg "Assessment Converted from limited to Unlimited Scrutiny without Approval: ITAT Remands Case [Read Order]")
![ITAT Deletes Penalty u/s 271(1)(c) on Estimated GP Addition for Alleged Bogus Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Boqus-Purchases.jpg "ITAT Deletes Penalty u/s 271(1)(c) on Estimated GP Addition for Alleged Bogus Purchases [Read Order]")
Gross Profit Rate Increase: ITAT Upholds CIT(A)'s Reduction from ₹1.01 Cr to ₹10.21 Lakh [Read Order]
The Lucknow Bench of Income Tax Appellate Tribunal(ITAT) upheld the Commissioner of Income Tax(Appeals) CIT(A)’s decision to reduce the gross profit addition from ₹1.01 crore to ₹10.21 lakh. The...
![Gross Profit Rate Increase: ITAT Upholds CIT(A)s Reduction from ₹1.01 Cr to ₹10.21 Lakh [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Gross-Profit-Rate-Increase-ITAT-Upholds-CITA-TAXSCAN.jpg "Gross Profit Rate Increase: ITAT Upholds CIT(A)s Reduction from ₹1.01 Cr to ₹10.21 Lakh [Read Order]")
![Denial of Hearing: ITAT directs Fresh Adjudication of Addition at 8% of the Gross Profit [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Denial-of-Hearing-Hearing-ITAT-ITAT-directs-Fresh-Adjudication-Fresh-Adjudication-Gross-Profit-Fresh-Adjudication-of-Addition-taxscan.jpg "Denial of Hearing: ITAT directs Fresh Adjudication of Addition at 8% of the Gross Profit [Read Order]")
![Circular Transactions within Group Entities not Considered Income for Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Circular-Transactions-Group-Entities-Income-for-Assessee-ITAT-taxscan.png "Circular Transactions within Group Entities not Considered Income for Assessee: ITAT [Read Order]")
![Unverified Sellers: ITAT upholds 20% Addition on Alleged Bogus Purchases [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/ITAT-ITAT-Jaipur-Income-Tax-Appellate-Tribunal-Income-Tax-bogus-purchases-Unverified-sellers-taxscan.jpg "Unverified Sellers: ITAT upholds 20% Addition on Alleged Bogus Purchases [Read Order]")
Allegation Bogus Purchase: ITAT confirms Gross profit at 12 .5% as Sales are not Disputed [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal( ITAT) confirmed the addition made by Income Tax Authorities on the gross profit margin @ 12.5% on the alleged bogus purchase by the assessee....
![Allegation Bogus Purchase: ITAT confirms Gross profit at 12 .5% as Sales are not Disputed [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Allegation-Bogus-Purchase-ITAT-ITAT-mumbai-Income-Tax-taxscan.jpg "Allegation Bogus Purchase: ITAT confirms Gross profit at 12 .5% as Sales are not Disputed [Read Order]")
Gross Profit Rate of 5% against 0.69% Made on Addition of Bogus Purchase is too High: Bombay HC Remands Matter to ITAT [Read Order]
The Bombay High Court has held that the gross profit rate of 5% against 0.69% made on the addition of bogus purchases is too high and remanded the matter to Income Tax Appellate Tribunal (ITAT) to...
![Gross Profit Rate of 5% against 0.69% Made on Addition of Bogus Purchase is too High: Bombay HC Remands Matter to ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Gross-Profit-Gross-Profit-Rate-of-5-against-0.69-Addition-of-Bogus-Purchase-Addition-of-Bogus-Purchase-is-too-High-Bombay-High-Court.jpg "Gross Profit Rate of 5% against 0.69% Made on Addition of Bogus Purchase is too High: Bombay HC Remands Matter to ITAT [Read Order]")
PCIT wrongly invokes Revisionary Powers u/s 263 of IT Act on order issued by AO with Sufficient Enquiry: ITAT revives Assessment Order [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) recently revived the assessment order and held that it was not justified for the PCIT to invoke the revisionary powers under Section...
![PCIT wrongly invokes Revisionary Powers u/s 263 of IT Act on order issued by AO with Sufficient Enquiry: ITAT revives Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessment-Order-PCIT-Revisionary-Powers-IT-Act-Income-Tax-AO-Sufficient-Enquiry-ITAT-taxscan.jpg "PCIT wrongly invokes Revisionary Powers u/s 263 of IT Act on order issued by AO with Sufficient Enquiry: ITAT revives Assessment Order [Read Order]")