ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![ITAT upholds Penalty u/s 271(1) (c) When Assessee failed to make Full and True Disclosure of the facts in Income Tax Return [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/ITAT-Penalty-us-2711-c-Assessee-failed-to-make-Full-True-Disclosure-of-the-facts-in-Income-Tax-Return-Taxscan.jpg "ITAT upholds Penalty u/s 271(1) (c) When Assessee failed to make Full and True Disclosure of the facts in Income Tax Return [Read Order]")
ITAT upholds Penalty u/s 271(1) (c) When Assessee failed to make Full and True Disclosure of the facts in Income Tax Return [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the Penalty under section 271(1) (c) of the Income Tax Act, 1961 when the...
![AO failed to enquire about bogus Transactions of Earning LTCG from Penny Stock Companies: ITAT upholds Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/bogus-Transactions-LTCG-Penny-Stock-Companies-Penny-Stock-ITAT-Revisional-Order-enquire-taxscan.jpg "AO failed to enquire about bogus Transactions of Earning LTCG from Penny Stock Companies: ITAT upholds Revisional Order [Read Order]")
![Taxing of Bogus Purchase GP rate violates Income Tax Act,100% disallowance towards Bogus /Hawala Purchase is valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Taxing-Bogus-Purchase-GP-rate-Income-Tax-Act-Income-Tax-Tax-Bogus-Hawala-Purchase-ITAT-taxscan.jpg "Taxing of Bogus Purchase GP rate violates Income Tax Act,100% disallowance towards Bogus /Hawala Purchase is valid: ITAT [Read Order]")
![Lack of Guidance by Tax Professionals in Filing Audit Report with Income Tax Return: ITAT grants Exemption u/s 11 of Income Tax Act to Educational Trust [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Tax-Professionals-Tax-Filing-Audit-Report-Audit-Report-Income-Tax-Return-Income-Tax-ITAT-Income-Tax-Act-Educational-Trust-Trust-taxscan.jpg "Lack of Guidance by Tax Professionals in Filing Audit Report with Income Tax Return: ITAT grants Exemption u/s 11 of Income Tax Act to Educational Trust [Read Order]")
![Sale of CWO proved and recorded as Income in Books of Account: ITAT deletes Addition on alleged Non genuine Purchase [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Sale-Sale-of-CWO-CWO-Income-Books-of-Account-ITAT-genuine-Purchase-Cotton-Wash-Oil-Taxscan.jpg "Sale of CWO proved and recorded as Income in Books of Account: ITAT deletes Addition on alleged Non genuine Purchase [Read Order]")
Sec 69 of Income Tax Act not applicable when amount represents Sale Proceeds realized by Company: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ), ruled that Sec 69 of the Income Tax Act, 1961 not applicable when amount represents sale proceeds realized by company. The...
![Sec 69 of Income Tax Act not applicable when amount represents Sale Proceeds realized by Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Income-Tax-Act-Income-Tax-Tax-Company-Sale-Sale-Proceeds-ITAT-Taxscan.jpg "Sec 69 of Income Tax Act not applicable when amount represents Sale Proceeds realized by Company: ITAT [Read Order]")
No Proper Examination of facts by Lower Authorities: ITAT orders Fresh Adjudication to determine TDS on MRI charges paid back to Company [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ), ordered fresh adjudication to determine TDS on MRI charges paid back to company as there was no proper examination of facts by Lower...
![No Proper Examination of facts by Lower Authorities: ITAT orders Fresh Adjudication to determine TDS on MRI charges paid back to Company [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Lower-Authorities-Proper-Examination-ITAT-Fresh-Adjudication-TDS-MRI-charges-MRI-Taxscan.jpg "No Proper Examination of facts by Lower Authorities: ITAT orders Fresh Adjudication to determine TDS on MRI charges paid back to Company [Read Order]")
Use of Building by Assessee-Trust without consideration is not Unexplained Investment: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ), ruled that use of building by assessee-trust without consideration is not unexplained investment. The assessee, Abhodh Memorial...
![Use of Building by Assessee-Trust without consideration is not Unexplained Investment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Building-Trust-Unexplained-Investment-Investment-ITAT-Taxscan.jpg "Use of Building by Assessee-Trust without consideration is not Unexplained Investment: ITAT [Read Order]")
![Payment of Rs. 22 Lakh in Cash to Wholesale Dealer attracts Disallowance u/s 40A(3): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Payment-Cash-Wholesale-Dealer-Wholesale-ITAT-taxscan.jpg "Payment of Rs. 22 Lakh in Cash to Wholesale Dealer attracts Disallowance u/s 40A(3): ITAT [Read Order]")
'Tax Authorities should stop functioning with the colonial mindset dispensing justice to the colonies': ITAT Slams Income Tax Dept for Arbitrary Use of Power [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) has recently observed “Tax Authorities should stop functioning with the colonial mindset dispensing justice to the colonies” and...
![Tax Authorities should stop functioning with the colonial mindset dispensing justice to the colonies: ITAT Slams Income Tax Dept for Arbitrary Use of Power [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Tax-Authorities-justice-ITAT-Income-Tax-Department-Income-Tax-Tax-Arbitrary-Use-of-Power-Power-Taxscan.jpg "Tax Authorities should stop functioning with the colonial mindset dispensing justice to the colonies: ITAT Slams Income Tax Dept for Arbitrary Use of Power [Read Order]")
![NFAC bound to Follow CBDT Circular: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/NFAC-bound-NFAC-CBDT-CBDT-Circular-ITAT-Taxscan.jpg "NFAC bound to Follow CBDT Circular: ITAT [Read Order]")
Treating Share Subscription by One Party as Unexplained Cash Credit: ITAT deletes Income Tax Addition [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench consisting of Sanjay Garg, Judicial Member and Dr. Manish Borad, Accountant Member deleted addition as there was treating share subscription...
![Treating Share Subscription by One Party as Unexplained Cash Credit: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Share-Subscription-Unexplained-Cash-Credit-Unexplained-Cash-Cash-Credit-ITAT-Taxscan.jpg "Treating Share Subscription by One Party as Unexplained Cash Credit: ITAT deletes Income Tax Addition [Read Order]")