![Unexplained Cash Credit Addition of Rs. 1.36 Crore u/s 69A: ITAT Upholds CIT(A) Decision to Delete Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Unexplained-Cash-Credit-Deletion-of-Addition-ITAT-Upholds-Income-Tax-Appellate-Tribunal-Section-69A-taxscan.jpg "Unexplained Cash Credit Addition of Rs. 1.36 Crore u/s 69A: ITAT Upholds CIT(A) Decision to Delete Addition [Read Order]")
Unexplained Cash Credit Addition of Rs. 1.36 Crore u/s 69A: ITAT Upholds CIT(A) Decision to Delete Addition [Read Order]
The Lucknow Bench of Income Tax Appellate Tribunal(ITAT) upheld the decision of the Commissioner of Income Tax(Appeals)[CIT(A)] to delete an...
![CIT(A) fails to exclude COVID-19 period for Calculating Limitation: ITAT directs Recalculation of 90-Day limit starting from October 3, 2021 [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/COVID-19-ITAT-ITAT-directs-recalculation-taxscan.jpg "CIT(A) fails to exclude COVID-19 period for Calculating Limitation: ITAT directs Recalculation of 90-Day limit starting from October 3, 2021 [Read Order]")
![‘No person will derive any Undue Benefit by not preferring Appeal against any Assessment order passed under Act’: ITAT condones 2564-day delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-Appellate-Tribunal-Assessment-order-Appeal-against-any-Assessment-order-ITAT-condones-ITAT-Lucknow-Undue-Benefit-by-not-preferring-Appeal.jpg "‘No person will derive any Undue Benefit by not preferring Appeal against any Assessment order passed under Act’: ITAT condones 2564-day delay [Read Order]")
![No Additions allowed in Completed/Unabated Assessments u/s 153A or 153C without Incriminating Material found during Search: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/No-Additions-Completed-Unabated-Assessments-Incriminating-Material-Search-ITAT-taxscan.jpg "No Additions allowed in Completed/Unabated Assessments u/s 153A or 153C without Incriminating Material found during Search: ITAT [Read Order]")
AO Fails to Verify FMV with Valuation Officer u/s 50C(2) upon Taxpayer’s Dispute: ITAT Invalidates STCG Addition [Read Order]
The Lucknow Bench of the Income Tax Appellate Tribunal ( ITAT ) invalidated the addition of short-term capital gains ( STCG ) after the assessing officer failed to consult a valuation officer to...
![AO Fails to Verify FMV with Valuation Officer u/s 50C(2) upon Taxpayer’s Dispute: ITAT Invalidates STCG Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Lucknow-Income-Tax-Section-50C2-of-Income-Tax-Act-Income-Tax-Ac-Short-Term-Capital-Gains-Taxscan.jpg "AO Fails to Verify FMV with Valuation Officer u/s 50C(2) upon Taxpayer’s Dispute: ITAT Invalidates STCG Addition [Read Order]")
ITAT Criticizes Revenue's Unnecessary Appeal against CIT(A)'s Exemption u/s 26AAB despite AO already accepting claim
The Lucknow Bench of Income Tax Appellate Tribunal ( ITAT ) criticized revenue for its unnecessary appeal against the Commissioner of Income Tax (Appeals) [CIT(A)]’s decision regarding income tax...
Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]
The Lucknow Bench of Income Tax Appellate Tribunal (ITAT) has reduced the disallowance as the quantum of disallowance made by the Assessing Officer (AO) was excessive and unreasonably high. In...
![Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Quantum-Quantum-of-Disallowance-Disallowance-AO-taxscan.jpg "Quantum of Disallowance made by AO Excessive and unreasonably High: ITAT Reduces Disallowance [Read Order]")
Capital Gain Exemption u/s 54 Cannot be Denied Based on Inadvertent and Bonafide Typographical Error: ITAT [Read Order]
The Lucknow Bench of Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54 of the Income Tax could not be denied on inadvertent and bonafide typographical...
![Capital Gain Exemption u/s 54 Cannot be Denied Based on Inadvertent and Bonafide Typographical Error: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Capital-Gain-Exemption-Inadvertent-Inadvertent-and-Bonafide-Typographical-Error-Typographical-Error-ITAT-taxscan.jpg "Capital Gain Exemption u/s 54 Cannot be Denied Based on Inadvertent and Bonafide Typographical Error: ITAT [Read Order]")
![No Disallowance u/s 40(a)(ia) in absence of TDS Deduction on Purchase of Trade items: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/TDS-Deduction-TDS-Deduction-Trade-ITAT-taxscan.png "No Disallowance u/s 40(a)(ia) in absence of TDS Deduction on Purchase of Trade items: ITAT [Read Order]")
Addition of Unexplained Cash based on Third-Party Statements without Opportunity for Cross-Examination is not sustainable: ITAT [Read Order]
While considering a bunch of appeals the Lucknow bench of the Income Tax Appellate Tribunal (ITAT) held that the addition of unexplained cash based on third-party statements without allowing...
![Addition of Unexplained Cash based on Third-Party Statements without Opportunity for Cross-Examination is not sustainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/unexplained-cash-cross-examination-ITAT-taxscan.jpeg "Addition of Unexplained Cash based on Third-Party Statements without Opportunity for Cross-Examination is not sustainable: ITAT [Read Order]")
Profit from Sale of Agricultural Land, not a 'Capital Asset', cannot be included while computing Book Profit: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), Lucknow bench consisting of A. D. Jain, Vice President and T. S. Kapoor, accountant member held that profit from sale of agricultural land, not a 'capital...
![Profit from Sale of Agricultural Land, not a Capital Asset, cannot be included while computing Book Profit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Profit-sale-of-agricultural-land-capital-asset-computing-book-profit-ITAT-Taxscan.jpg "Profit from Sale of Agricultural Land, not a Capital Asset, cannot be included while computing Book Profit: ITAT [Read Order]")