ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Proceedings u/s 153C cannot be initiated in absence of incriminating material found during search: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/incriminating-material-ITAT-taxscan.jpg "Proceedings u/s 153C cannot be initiated in absence of incriminating material found during search: ITAT [Read Order]")
Proceedings u/s 153C cannot be initiated in absence of incriminating material found during search: ITAT [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) held that proceedings under Section 153C of the Income Tax Act, 1961 cannot be...
![Absence to take note of Judicial Pronouncements in DVO Report: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/judicial-pronouncements-DVO-Report-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Absence to take note of Judicial Pronouncements in DVO Report: ITAT deletes Income Tax Addition [Read Order]")
![Net Profit Margin to be Adjusted to take into Account the differences between International Transactions and Comparable Uncontrolled Transactions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Net-Profit-Margin-International-Transactions-Transactions-ITAT-taxscan.jpg "Net Profit Margin to be Adjusted to take into Account the differences between International Transactions and Comparable Uncontrolled Transactions: ITAT [Read Order]")
![AO failed to record the satisfaction envisaged u/s 14A(2): ITAT deletes proceedings against Serum Institute of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/AO-ITAT-Serum-Institute-of-India-taxscan.jpg "AO failed to record the satisfaction envisaged u/s 14A(2): ITAT deletes proceedings against Serum Institute of India [Read Order]")
![AO failed to follow directions by ITAT to estimate net profit: Calcutta HC directs to calculate profit estimated in its entirety [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/AO-ITAT-Calcutta-HC-TAXSCAN.jpg "AO failed to follow directions by ITAT to estimate net profit: Calcutta HC directs to calculate profit estimated in its entirety [Read Order]")
Deduction of Expenditure u/s 57(iii) can be for Negative or Positive Income: ITAT quashes Order of CIT(A) [Read Order]
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has held that the deduction of expenditure u/s 57(iii) of the Income Tax Act,1961 can be for negative or positive income. Sh....
![Deduction of Expenditure u/s 57(iii) can be for Negative or Positive Income: ITAT quashes Order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Deduction-Expenditure-Income-ITAT-taxscan.jpg "Deduction of Expenditure u/s 57(iii) can be for Negative or Positive Income: ITAT quashes Order of CIT(A) [Read Order]")
Percentage completion method of Revenue recognition Practised by Builder is acceptable as per Accounting Standard: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the percentage completion method of Revenue recognition practised by Builder is acceptable as per Accounting Standards. ...
![Percentage completion method of Revenue recognition Practised by Builder is acceptable as per Accounting Standard: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Revenue-recognition-Accounting-Standard-ITAT-taxscan.jpg "Percentage completion method of Revenue recognition Practised by Builder is acceptable as per Accounting Standard: ITAT [Read Order]")
![Revisionary Order entirely on Presumptions, Conjectures and Surmises is not valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Revisionary-order-ITAT-taxscan.jpg "Revisionary Order entirely on Presumptions, Conjectures and Surmises is not valid: ITAT [Read Order]")
![Revisionary Powers u/s 263 can be Invoked on Account of Lack of Enquiry by AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Revisionary-Account-Enquiry-AO-ITAT-TAXSCAN.jpg "Revisionary Powers u/s 263 can be Invoked on Account of Lack of Enquiry by AO: ITAT [Read Order]")
Non-Response to Re-Assessment Notice will not Attract Penalty under Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the non-response to the re-assessment notice under the Income Tax Act, 1961 will not attract penalty under section 271(1)(b) of the...
![Non-Response to Re-Assessment Notice will not Attract Penalty under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Non-Response-to-Re-Assessment-Notice-Re-Assessment-Noticenot-Penalty-Income-Tax-Act-ITAT-taxscan.jpg "Non-Response to Re-Assessment Notice will not Attract Penalty under Income Tax Act: ITAT [Read Order]")
![Onus is on Assessee to establish that Expenditure was incurred for Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/expenditure-business-ITAT-taxscan.jpg "Onus is on Assessee to establish that Expenditure was incurred for Business: ITAT [Read Order]")
Income Tax Addition u/s 68 not permissible When Assessee furnished all evidences proving identity and creditworthiness of the Investors: ITAT upholds order of CIT(A)
Income Tax Addition u/s 68 of the Income Tax Act,1961 is not permissible when the assessee furnished all evidence proving the identity and creditworthiness of the investors, the Kolkata Bench of the...
