![Depreciation Cannot be Allowed if Cost of Acquisition Claimed: ITAT Remands for Verification of S.11(6) Compliance [Read Order]](https://images.taxscan.in/h-upload/2025/10/22/500x300_2098990-dpreciation-itat-taxscan.webp "Depreciation Cannot be Allowed if Cost of Acquisition Claimed: ITAT Remands for Verification of S.11(6) Compliance [Read Order]")
Depreciation Cannot be Allowed if Cost of Acquisition Claimed: ITAT Remands for Verification of S.11(6) Compliance [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) remanded to the Assessing Officer (AO) to verify the factual claim that the cost of...
![ITAT restricts Addition on “Peak Purchase” to Differential Margin Between Declared and Benchmark Profit in Rice Trading Case [Read Order]](https://images.taxscan.in/h-upload/2025/10/21/250x150_2098740-rice-trading-taxscan.webp "ITAT restricts Addition on “Peak Purchase” to Differential Margin Between Declared and Benchmark Profit in Rice Trading Case [Read Order]")
![Assessee’s Failure to Reconcile the Discrepancy Justifies Addition: ITAT upholds Donation Disallowance [Read Order]](https://images.taxscan.in/h-upload/2025/10/21/250x150_2098679-donation-disallowance-taxscan.webp "Assessee’s Failure to Reconcile the Discrepancy Justifies Addition: ITAT upholds Donation Disallowance [Read Order]")
![Britannia Biscuit Wholesale Dealers Estimated Income Reduced to 1% from 1.5%: ITAT Reduces Income citing Earlier Years estimation [Read Order]](https://images.taxscan.in/h-upload/2025/10/21/250x150_2098635-britannia-biscuit-taxscan.webp "Britannia Biscuit Wholesale Dealers Estimated Income Reduced to 1% from 1.5%: ITAT Reduces Income citing Earlier Years estimation [Read Order]")
![Credits Receivables from Earlier Years Sales Not Verified: ITAT Restores ₹2.27 Cr Foreign Remittance Addition for Verification [Read Order]](https://images.taxscan.in/h-upload/2025/10/20/250x150_2098275-itat-foreign-remittance-taxscan.webp "Credits Receivables from Earlier Years Sales Not Verified: ITAT Restores ₹2.27 Cr Foreign Remittance Addition for Verification [Read Order]")
Delay in Payment of Self-Assessment Tax If Subsequently Paid Not a Willful Attempt to Evade Tax u/s 276C(2) of Income Tax: Bombay HC [Read Order]
In a recent ruling, the Bombay High Court held that a delay in payment of self-assessment tax, if subsequently paid, does not amount to a willful attempt to evade tax under Section 276C(2) of the...
![Delay in Payment of Self-Assessment Tax If Subsequently Paid Not a Willful Attempt to Evade Tax u/s 276C(2) of Income Tax: Bombay HC [Read Order]](https://images.taxscan.in/h-upload/2025/10/20/500x300_2098205-self-assessment-tax-taxscan.webp "Delay in Payment of Self-Assessment Tax If Subsequently Paid Not a Willful Attempt to Evade Tax u/s 276C(2) of Income Tax: Bombay HC [Read Order]")
Depreciation on Goodwill from HC Approved Amalgamation not a Representation of Land Value: ITAT upholds deletion of Disallowance [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) upheld the depreciation on Goodwill from the High Court-approved amalgamation and dismissed the AO’s Claim that it represented land value.The...
![Depreciation on Goodwill from HC Approved Amalgamation not a Representation of Land Value: ITAT upholds deletion of Disallowance [Read Order]](https://images.taxscan.in/h-upload/2025/10/18/500x300_2097743-amalgamation-taxscan.webp "Depreciation on Goodwill from HC Approved Amalgamation not a Representation of Land Value: ITAT upholds deletion of Disallowance [Read Order]")
Income Already Taxed in Share Applicant Companies: ITAT Deletes ₹190 Crore Share Capital Addition citing Double Taxation [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT), in a third-member reference, deleted an addition of ₹190 Crore made under Section 68 of the Income Tax Act, 1961, holding that once the ...
![Income Already Taxed in Share Applicant Companies: ITAT Deletes ₹190 Crore Share Capital Addition citing Double Taxation [Read Order]](https://images.taxscan.in/h-upload/2025/10/17/500x300_2097410-double-taxation-taxscan1.webp "Income Already Taxed in Share Applicant Companies: ITAT Deletes ₹190 Crore Share Capital Addition citing Double Taxation [Read Order]")
Details for MAT Credit u/s 115JAA Available on Assessment Records: ITAT directs to allow ₹12.94 Lakh Credit [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to allow Minimum Alternate Tax (MAT) Credit amounted to ₹12.94 lakh under section 115JAA of the Income...
![Details for MAT Credit u/s 115JAA Available on Assessment Records: ITAT directs to allow ₹12.94 Lakh Credit [Read Order]](https://images.taxscan.in/h-upload/2025/10/17/500x300_2097398-untitled-design.webp "Details for MAT Credit u/s 115JAA Available on Assessment Records: ITAT directs to allow ₹12.94 Lakh Credit [Read Order]")
Once Assessee Discharges Onus u/s 68, Burden of Proof Shifts to Revenue: ITAT rules Double Taxation Unsustainable in Steel Manufacturer’s Case [Read Order]
The bench of the Income Tax Appellate Tribunal, Raipur, held that once the assessee had discharged the primary onus under Section 68 of the Income Tax Act, 1961, by furnishing documentary evidence to...
![Once Assessee Discharges Onus u/s 68, Burden of Proof Shifts to Revenue: ITAT rules Double Taxation Unsustainable in Steel Manufacturer’s Case [Read Order]](https://images.taxscan.in/h-upload/2025/10/16/500x300_2097178-double-taxation-taxscan.webp "Once Assessee Discharges Onus u/s 68, Burden of Proof Shifts to Revenue: ITAT rules Double Taxation Unsustainable in Steel Manufacturer’s Case [Read Order]")
![Restored Registration Entitles Charitable Trust to Tax Benefits: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/10/16/500x300_2097156-restored-registration-charitable-trust-taxscan.webp "Restored Registration Entitles Charitable Trust to Tax Benefits: ITAT [Read Order]")