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ITAT Indore

Statement Recorded under Sec 133A by Themselves have no Evidentiary Value: ITAT Upholds Deletion of Additional Income [Read Order]

Taxscan Team

The Indore Bench of The Income Tax Appellate Tribunal ( ITAT ) has held that statement recorded under section 133A of the Income Tax Act by...

Stamp Vendor eligible for Deduction of Commission Expenses at 75% due to Absence of Documents: ITAT...

Denial of Opportunity of Cross-examination of Parties allegedly received ‘on-money’ from Sale of...

Refund of Advances made in preceding years can't be Deemed as Credit to attract Unexplained Cash...

Section 56(2)(viib) of the Income Tax Act does not apply to consideration received from Non...

Power of Revision by CIT(A) can’t be invoked if order passed by AO is not erroneous & prejudicial to interests of the revenue: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Indore Bench held that the power of revision by CIT(A) can not be invoked if order passed by AO is not erroneous & prejudicial to interests of the...

Deposit of Business Income of Wife in Joint Bank A/c can’t attract Addition u/s 68: ITAT [Read Order]

The Indore bench of the Income Tax Appellate Tribunal (ITAT), last week held that the addition under section 68 of the Income Tax Act, 1961 cannot be made against the assessee in respect of the...

ITAT deletes Income Tax Addition against Vyapam Accused [Read Order]

The Income Tax Appellate Tribunal (ITAT), Indore bench has recently deleted an addition of around rupees 7.35 crores against one of the accused person of Vyapam case. The amount was surrendered by...

Penalty Proceedings can’t be initiated without a specific Charge: ITAT [Read Order]

The Indore bench of the Income Tax Appellate Tribunal (ITAT) on Thursday ruled that no penalty proceedings can be initiated on a suspected defaulter assessee without specifying the charges levied...

Past Savings kept in Locker not Unexplained Investment If Source is Explained: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Indore bench has held that the past savings kept in the bank locker cannot be treated as Unexplained Investment merely for the reason that the amount was not...

Streedhan saved by Indian Ladies can’t be treated as Unexplained Investment: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Indore bench has held that the streedhan saved by Indian women cannot be treated as an unexplained investment for the purpose of addition under section 69 of...

No Addition If Cash Payment exceeding Monetary Limit was due to Instance of Seller: ITAT [Read Order]

The Indore bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition cannot be sustained for making cash payment exceeding monetary limit if the same was due to the instance of the...

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