ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/violation-Payment-Cash-Purchases-Exceeding-ITAT-Revisional-Order-TAXSCAN.jpeg "No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]")
No Violation of S. 40A(3) of Income Tax Act as No Payment of Cash for making Purchases Exceeding the Prescribed Limit: ITAT [Read Order]
Violation u/s. 40A(3) of the Income Tax Act, 1961 will not be attracted when cash payment is made for the purchases exceeds the prescribed limit, the...
![No Evidence of Suppression of Gross Profit by obtaining Bogus Purchase: Delhi HC Deletes Income Tax Addition [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/10/Evidence-Bogus-Purchase-Gross-profit-Delhi-HC-taxscan.jpg "No Evidence of Suppression of Gross Profit by obtaining Bogus Purchase: Delhi HC Deletes Income Tax Addition [Read Judgment]")
![Non Participation in Income Tax Assessment Proceedings Due to Disputes Between Partners: ITAT deletes Penalty u/s 271(1)(b) [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Assessment-Disputes-Partners-ITAT-Penalty-taxscan.jpg "Non Participation in Income Tax Assessment Proceedings Due to Disputes Between Partners: ITAT deletes Penalty u/s 271(1)(b) [Read Order]")
![Genuineness of Purchase cannot be Suspected Merely Because Seller is Not Traceable: ITAT Deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Purchase-Seller-ITAT-taxscan.jpg "Genuineness of Purchase cannot be Suspected Merely Because Seller is Not Traceable: ITAT Deletes Income Tax Addition [Read Order]")
![Interest on Fixed Deposits being Attributable and Incidental to the Trading Business, Exemption Claimable u/s. 10AA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Interest-Fixed-Deposits-Business-ITAT-taxscan.jpg "Interest on Fixed Deposits being Attributable and Incidental to the Trading Business, Exemption Claimable u/s. 10AA: ITAT [Read Order]")
Losses of Clients cannot be shifted by ABML to assessee Merely because those clients had been sourced or referred by Assessee, Claim under Options Maxima Scheme not allowable: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that losses of clients cannot be shifted by ABML to the assessee merely because those clients had been sourced or referred by the...
ITAT directs to Compute Capital gain and Exemption u/s 54 F based on Details of Expenses incurred on Construction of House [Read Order]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) directed to Compute Capital gain and Exemption u/s 54 F based on Details of expenses incurred on the construction of house. Shri...
![ITAT directs to Compute Capital gain and Exemption u/s 54 F based on Details of Expenses incurred on Construction of House [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/ITAT-Compute-Capital-gain-Exemption-Expenses-TAXSCAN.jpg "ITAT directs to Compute Capital gain and Exemption u/s 54 F based on Details of Expenses incurred on Construction of House [Read Order]")
Every Deposit during Demonetization period Not amounts to Unaccounted Cash, Addition u/s 68 not allowable: ITAT [Read Order]
Every deposit during demonetization period Not amounts to unaccounted cash , the Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition u/s 68 not allowable The...
![Every Deposit during Demonetization period Not amounts to Unaccounted Cash, Addition u/s 68 not allowable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Deposit-Demonetisation-Unaccounted-Cash-ITAT-taxscan.jpg "Every Deposit during Demonetization period Not amounts to Unaccounted Cash, Addition u/s 68 not allowable: ITAT [Read Order]")
Form No.67 is not mandatory but a directory requirement, Disallowance of FTC due to delay in filing the same not valid: ITAT [Read Order]
Form No.67 is not mandatory but a directory requirement, the Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that disallowance of FTC due to delay in filing the same is not...
![Form No.67 is not mandatory but a directory requirement, Disallowance of FTC due to delay in filing the same not valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Form-No.67-directory-requirement-FTC-ITAT-taxscan.jpg "Form No.67 is not mandatory but a directory requirement, Disallowance of FTC due to delay in filing the same not valid: ITAT [Read Order]")
![Relief to Conduent Services: ITAT directs to apply MAP rate on Transactions [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Conduent-Services-ITAT-MAP-Transactions-TAXSCAN.jpg "Relief to Conduent Services: ITAT directs to apply MAP rate on Transactions [Read Order]")
15% Depreciation allowable to Stainless steel tables, Stools, etc used for production of vaccines: ITAT grants Relief to Serum Institute of India [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the depreciation at 15 % to Serum Institute of India Ltd on products like Stainless steel tables, Stools, etc which are used for...
![15% Depreciation allowable to Stainless steel tables, Stools, etc used for production of vaccines: ITAT grants Relief to Serum Institute of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Depreciation-production-vaccines-ITAT-Serum-Institute-of-India-taxscan.jpg "15% Depreciation allowable to Stainless steel tables, Stools, etc used for production of vaccines: ITAT grants Relief to Serum Institute of India [Read Order]")
Relief to NXP India: ITAT directs Fresh Adjudication on Depreciation on Networking Equipment [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT), Bangalore directed fresh adjudication on depreciation on networking equipment, and thereby granting relief to NXP India Pvt Ltd. ...
![Relief to NXP India: ITAT directs Fresh Adjudication on Depreciation on Networking Equipment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/NXP-India-ITAT-Depreciation-taxscan.jpg "Relief to NXP India: ITAT directs Fresh Adjudication on Depreciation on Networking Equipment [Read Order]")