ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![No Application of S.14A Income Tax Act, If No Exempt Income received or receivable during relevant previous year: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Act-Income-Tax-Tax-Income-received-ITAT-Exempt-Income-taxscan.jpg "No Application of S.14A Income Tax Act, If No Exempt Income received or receivable during relevant previous year: ITAT [Read Order]")
No Application of S.14A Income Tax Act, If No Exempt Income received or receivable during relevant previous year: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal( ITAT ) held that there is no application of Section 14A Income Tax Act, if no exempt income...
![Recording different findings on Same of Set of Evidence: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Recording-of-evidence-evidence-ITAT-findings-taxscan.jpg "Recording different findings on Same of Set of Evidence: ITAT quashes Order [Read Order]")
![Assessment u/s 153 A Invalid in absence of Independent Application of Mind by JCIT before granting Approval: Allahabad HC upholds order of ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Independent-Application-Assessment-JCIT-ITAT-Allahabad-High-Court-Taxscan.jpg "Assessment u/s 153 A Invalid in absence of Independent Application of Mind by JCIT before granting Approval: Allahabad HC upholds order of ITAT [Read Order]")
![Relief to United Breweries, Disallowance u/s 14A restricted to Exempt Income earned by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/United-Breweries-Exempt-Income-ITAT-Taxscan.jpg "Relief to United Breweries, Disallowance u/s 14A restricted to Exempt Income earned by Assessee: ITAT [Read Order]")
![Protective Addition made to Save Interest of Revenue not permissible, Assessment cant be reopened based on contingent reason: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Protective-Addition-Interest-Interest-of-Revenue-Assessment-ITAT-taxscan-2.jpg "Protective Addition made to Save Interest of Revenue not permissible, Assessment cant be reopened based on contingent reason: ITAT [Read Order]")
ITAT quashes Disallowance of Customs Duty Drawback written-off relating to preceding Assessment Years ‘as prior period item’ [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal ( ITAT ), quashed disallowance of customs duty drawback written-off relating to preceding assessment years ‘as prior period item’. The grounds...
![ITAT quashes Disallowance of Customs Duty Drawback written-off relating to preceding Assessment Years ‘as prior period item’ [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-Customs-Duty-Customs-Customs-Duty-Drawback-written-off-Assessment-Assessment-Years-Taxscan.jpg "ITAT quashes Disallowance of Customs Duty Drawback written-off relating to preceding Assessment Years ‘as prior period item’ [Read Order]")
Relief to Nagarjuna Oil Corporation, Section 271(1)(c) Penalty cannot be imposed on debatable issue: ITAT [Read Order]
As a relief to Nagarjuna Oil corporation, the Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Section 271(1)(c) of the Income Tax Act,1961 penalty cannot be imposed on a...
![Relief to Nagarjuna Oil Corporation, Section 271(1)(c) Penalty cannot be imposed on debatable issue: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Nagarjuna-Oil-Corporation-Nagarjuna-Oil-Penalty-debatable-issue-ITAT-taxscan-.jpg "Relief to Nagarjuna Oil Corporation, Section 271(1)(c) Penalty cannot be imposed on debatable issue: ITAT [Read Order]")
Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that foreign currency is not a “commodity” and that addition based on the speculative transaction is not permissible. ...
![Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Foreign-Currency-Commodity-Income-Tax-Addition-Income-Tax-Tax-Speculative-Transactions-ITAT-Taxscan.jpg "Foreign Currency is not a ‘Commodity’, Income Tax Addition based on Speculative Transactions not permissible: ITAT [Read Order]")
![No TDS applicable on Payment of Interest to its Member by Co-operative Bank: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/TDS-TDS-applicable-Payment-Interest-Co-operative-Bank-ITAT-Taxscan.jpg "No TDS applicable on Payment of Interest to its Member by Co-operative Bank: ITAT [Read Order]")
Leave Encashment and Employees provision for Gratuity are ascertained Liability, allowable in Book Profit Computation: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that leave encashment and employee provision for Gratuity is ascertained liability and allowable in book profit computation. ...
![Leave Encashment and Employees provision for Gratuity are ascertained Liability, allowable in Book Profit Computation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Leave-Encashment-Employees-Employees-Gratuity-Gratuity-Book-Profit-Computation-Book-Profit-ITAT-taxscan.jpg "Leave Encashment and Employees provision for Gratuity are ascertained Liability, allowable in Book Profit Computation: ITAT [Read Order]")
![Sale of Entire Business amounts to Slump Sale, Taxable under Capital Gain: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Sale-of-Entire-Business-amounts-Slump-Sale-Taxable-Capital-Gain-ITAT-Taxscan.jpg "Sale of Entire Business amounts to Slump Sale, Taxable under Capital Gain: ITAT [Read Order]")