ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![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]")
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...
![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]](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...
No Addition u/s 68 can be Made When No Fresh Receipt of Money During the Year under Consideration: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, has recently in an appeal filed before it, held that no addition u/s 68, can be made when there is no fresh receipt of money during the year...
![No Addition u/s 68 can be Made When No Fresh Receipt of Money During the Year under Consideration: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Money-Consideration-ITAT-taxscan.jpg "No Addition u/s 68 can be Made When No Fresh Receipt of Money During the Year under Consideration: ITAT [Read Order]")
No Exemption on Income from Sale of Non-Agricultural Land on failure to fulfil twin condition for not being a Capital Asset: ITAT [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that exemption on Income from the sale of non-agricultural land is not allowable on failure to fulfil twin conditions for not...
![No Exemption on Income from Sale of Non-Agricultural Land on failure to fulfil twin condition for not being a Capital Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/exemption-Income-from-agricultural-land-capital-ITAT-TAXSCAN.jpg "No Exemption on Income from Sale of Non-Agricultural Land on failure to fulfil twin condition for not being a Capital Asset: ITAT [Read Order]")
Relief to Sir Ratan Tata Trust: No Conditions can be Imposed by PCIT Under Clause 1, Section 80G (V), for Granting Registration to Trusts, rules ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, while deciding an appeal filed before it and thereby granting relief to Sir Ratan Tata Trust, held that no conditions can be...
![Relief to Sir Ratan Tata Trust: No Conditions can be Imposed by PCIT Under Clause 1, Section 80G (V), for Granting Registration to Trusts, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Ratan-Tata-Trust-PCIT-Registration-Trusts-ITAT-taxscan.jpg "Relief to Sir Ratan Tata Trust: No Conditions can be Imposed by PCIT Under Clause 1, Section 80G (V), for Granting Registration to Trusts, rules ITAT [Read Order]")
![Relief to Novartis India: ITAT allows Tax Neutral Disallowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Novartis-India-ITAT-Tax-Disallowance-taxscan.jpg "Relief to Novartis India: ITAT allows Tax Neutral Disallowance [Read Order]")
Disallowance u/s 143(1) cannot be in mechanical manner: ITAT directs to verify on deduction of TDS [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT), held that disallowance under Section 143(1) of the Income Tax Act, 1961 cannot be in mechanical manner and directed to verify whether...
![Disallowance u/s 143(1) cannot be in mechanical manner: ITAT directs to verify on deduction of TDS [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Disallowance-ITAT-deduction-TDS-taxscan.jpg "Disallowance u/s 143(1) cannot be in mechanical manner: ITAT directs to verify on deduction of TDS [Read Order]")