ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![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]")
Relief to United Breweries, Disallowance u/s 14A restricted to Exempt Income earned by Assessee: ITAT [Read Order]
As a relief to United Breweries, the Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that disallowance under section 14A of...
![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]](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]](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]](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]")
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 assessee failed to make full and true disclosure of the...
![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]")
AO failed to enquire about bogus Transactions of Earning LTCG from Penny Stock Companies: ITAT upholds Revisional Order [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) upheld the revisional order when the Assessing Officer (AO) failed to enquire about bogus Transactions of earning long-term capital...
![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]
The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Taxing of Bogus purchase GP rate violates Income Tax Act,100% disallowance towards Bogus /Hawala Purchase is valid. ...
![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]")