ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Rejection of Appeal without considering Settlement through VSVS Scheme: ITAT orders fresh adjudication by CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Appeal-VSVS-Scheme-ITAT-taxscan.jpeg "Rejection of Appeal without considering Settlement through VSVS Scheme: ITAT orders fresh adjudication by CIT(A) [Read Order]")
Rejection of Appeal without considering Settlement through VSVS Scheme: ITAT orders fresh adjudication by CIT(A) [Read Order]
In a recent ruling, the Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that, the Commissioner of Income Tax (Appeals) [CIT(A)]...
![Relief to Serum Institute of India, Corporate Guarantee cannot be treated on par with Bank Guarantees: ITAT upholds the order of CIT(A) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Serum-Institute-of-India-Corporate-Guarantee-Bank-Guarantees-ITAT-CITA-taxscan.jpg "Relief to Serum Institute of India, Corporate Guarantee cannot be treated on par with Bank Guarantees: ITAT upholds the order of CIT(A) [Read Order]")
![Revisional Order cannot be invoked When AO revised TDS Credit after due verification of Reconciliation Statement: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Revisional-Order-AO-TDS-verification-ITAT-TAXSCAN.jpeg "Revisional Order cannot be invoked When AO revised TDS Credit after due verification of Reconciliation Statement: ITAT [Read Order]")
![Notice u/s 148 issued based on Incomplete Information without any Verification: ITAT quashes Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Notice-on-Incomplete-Information-Verification-ITAT-Assessment-Order-TAXSCAN.jpg "Notice u/s 148 issued based on Incomplete Information without any Verification: ITAT quashes Assessment Order [Read Order]")
![Interest received on enhanced Compensation u/s 28 of Land Acquisition Act is part of Compensation: ITAT grants Exemption u/s 10(37) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Interest-Land-Acquisition-Act-Compensation-ITAT-taxscan.jpg "Interest received on enhanced Compensation u/s 28 of Land Acquisition Act is part of Compensation: ITAT grants Exemption u/s 10(37) [Read Order]")
Disallowance of Loss on Trading in Shares and Communities based on fictitious transactions not permissible when evidence adduced: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that disallowance of loss on trading in shares and Communities based on fictitious transactions is not permissible when the...
![Disallowance of Loss on Trading in Shares and Communities based on fictitious transactions not permissible when evidence adduced: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Disallowance-Loss-evidence-adduced-ITAT-TAXSCAN.jpg "Disallowance of Loss on Trading in Shares and Communities based on fictitious transactions not permissible when evidence adduced: ITAT [Read Order]")
Agricultural Income assessed without due enquiry: ITAT upholds order of PCIT for Revision of Assessment [Read Order]
The Banglore Bench of the Income Tax Appellate Tribunal (ITAT) comprising Judicial Member Beena Pillai and Accountant Member Chandra Poojari upheld the order of the Principal Commissioner of Income...
![Agricultural Income assessed without due enquiry: ITAT upholds order of PCIT for Revision of Assessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Agricultural-Income-enquiry-ITAT-PCIT-Assessment-taxscan.jpeg "Agricultural Income assessed without due enquiry: ITAT upholds order of PCIT for Revision of Assessment [Read Order]")
ESOP Expenses are not allowable When the Shares/ ESOP are granted by Parent Company: ITAT [Read Order]
ESOP expenses are not allowable when the shares/ ESOP are granted by the Parent company the Delhi Bench of, the Income Tax Appellate Tribunal (ITAT) held that can’t allow without factual verification...
![ESOP Expenses are not allowable When the Shares/ ESOP are granted by Parent Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/ESOP-Expenses-Shares-ESOP-Parent-Company-ITAT-taxscan.jpg "ESOP Expenses are not allowable When the Shares/ ESOP are granted by Parent Company: ITAT [Read Order]")
![Salary allowable as Expenditure When Calculation Sheets on Pay Revision available: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Salary-Calculation-Sheets-on-Pay-Revision-ITAT-TAXSCAN.jpg "Salary allowable as Expenditure When Calculation Sheets on Pay Revision available: ITAT [Read Order]")
Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]
Foundation for levy of penalty is on addition made of concealment of income, the Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held that no penalty u/s 271(1)(c) of the Income Tax...
![Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Penalty-Addition-Concealment-Income-Penalty-ITAT-TAXSCAN.jpg "Foundation for Levy of Penalty is on Addition made of Concealment of Income, No Penalty u/s 271(1)(c) imposable in the Absence of Addition: ITAT [Read Order]")
No Evidence of Rental receipt from Property: ITAT sustain Addition on Cash Deposits into Bank Account [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai sustained addition on cash deposits into bank account as there was no evidence of rental receipt from property. During the financial year relevant...
![No Evidence of Rental receipt from Property: ITAT sustain Addition on Cash Deposits into Bank Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Evidence-Rental-receipt-ITAT-Addition-Cash-Deposits-Bank-Account-taxscan.jpg "No Evidence of Rental receipt from Property: ITAT sustain Addition on Cash Deposits into Bank Account [Read Order]")
Imported Goods Re-Exported by a Unit Duly Approved by Development Commissioner of the Concerned SEZ, Allowable for Exemption u/s 10AA: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently held that imported goods re-exported by a unit duly approved by the development commissioner of the concerned SEZ, are allowable...
![Imported Goods Re-Exported by a Unit Duly Approved by Development Commissioner of the Concerned SEZ, Allowable for Exemption u/s 10AA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Imported-Goods-Re-Exported-Approved-Development-SEZ-ITAT-TAXSCAN.jpg "Imported Goods Re-Exported by a Unit Duly Approved by Development Commissioner of the Concerned SEZ, Allowable for Exemption u/s 10AA: ITAT [Read Order]")