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ITAT Indore

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...

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

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

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

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

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...

Silver Articles given to Bride can’t be seized: ITAT Liberally Interprets CBDT Instruction [Read Order]

While applying a liberal approach to interpret the CBDT circular imposing restrictions on the seizure of jewellery, the Income Tax Appellate Tribunal (ITAT), Indore bench has held that the silver...

Assessee can’t be Penalized for Wrong Statement given by Payee: ITAT [Read Order]

A Division bench of the Indore ITAT including Judicial Member Kul Bharat and Accountant Member Manish Borad ruled that assessee cannot be penalized merely based on wrong statement given by payee. In...

Benefit of CBDT Circular permitting Holding of Gold Jewellery also applicable to Silver Jewellery: ITAT [Read Order]

The Indore bench of the Income Tax Appellate Tribunal (ITAT) has held that the benefit of the circular issued by the Central Board of Direct Taxes (CBDT) permitting the holding of gold jewellery can...

Income from Sale of Plots under a Business Project is Business Income: ITAT [Read Order]

The Indore bench of the Income Tax Appellate Tribunal (ITAT) has held that the selling of plots which is part of a business project can be termed as “adventure in the nature of trade” and the income...

No Addition on the Basis of Statements recorded under S. 133A Income Tax Act: ITAT [Read Order]

The Indore Bench of Income Tax Appellate Tribunal ( ITAT ) in the case of Shri Ashok Vani v. ITO, Ratlam disposing of the appeal completely in favor of the assessee held that there shall be no...

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