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Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.

General Insurance Companies Entitled to S. 10(38) Income Tax Exemption on Equity Gains: ITAT [Read Order]

Kavi Priya

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) ruled that general insurance companies can claim income tax exemption under Section 10(38)...

Schedule BP Adjustment Ignored: ITAT Sets Aside ₹33.83 Cr Disallowance u/s. 37 & MAT Addition u/s....

Brought-Forward Losses Cannot be Set Off against DTAA-Exempt LTCG: ITAT Bars Adjustment [Read Order]

Object Clause Allowing Overseas Fund Use Rectifiable: ITAT Remands Rotary Club's Registration for...

No Substantial Question of Law Found: SC Upholds MP HC Order Affirming ITAT’s Deletion of ₹3.73 Cr...

400 Days Delay in Filing 10AB Held Bona Fide: ITAT Restores Rotary Club Trust’s 12AB & 80G Applications [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that a 400-day delay in filing Form 10AB as bonafide and has thus restored the Rotary Club Trust’s application for registration...

Ex-Parte Order after 10 Notices Not Final: ITAT Remands ₹64.12 Lakh S. 69C Disallowance [Read Order]

The Income Tax Appellate Tribunal, Mumbai Bench (ITAT), has held that an ex-parte appellate order passed without adjudicating issues on merits cannot be treated as final merely because multiple...

Supreme Court Upholds ITAT Order Restoring Income Tax Appeal Despite Pending Settlement Proceedings [Read Order]

The Supreme Court has upheld the order of the Income Tax Appellate Tribunal (ITAT) restoring an income tax appeal even though settlement proceedings before the Income Tax Settlement Commission were...

ITAT Remands Section 69A Addition After Holding AO Failed to Verify Creditworthiness of Donors [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has remanded a case involving addition towards unexplained investment under Section 69A of the Income Tax Act, 1961, back to the...

Purchases cannot be Disallowed Merely on Employee Statements without Evidence: ITAT Deletes 12.5% Ad-Hoc Disallowance [Read Order]

The Mumbai Bench of Income Tax Appellant Tribunal (ITAT) deleted ad-hoc disallowance calculated at 12.5% of the total purchase value, holding that employee statements recorded a decade after the...

Notional Interest cannot be Taxed on Funds Provided to Subsidiary when no Interest Paid: ITAT Dismisses Appeal against Shoppers Stop [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ), has dismissed the revenue’s appeal against Shoppers Stop. It had deleted an addition made on account of notional interest, holding that...

PCIT Cannot Invoke Revisionary Powers u/s 263 where AO took a Plausible View after Due Enquiry: ITAT favours City Union Bank [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that revisionary powers under Section 263 of theIncome Tax Act, 1961 cannot be exercised merely because the Principal ...