ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Allegation of Bogus Purchase on borrowed satisfaction from VAT Dept. without Proper Cross-Verification: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Bogus-Purchase-VAT-Dept-Cross-Verification-ITAT-taxscan.jpg "Allegation of Bogus Purchase on borrowed satisfaction from VAT Dept. without Proper Cross-Verification: ITAT deletes Addition [Read Order]")
Allegation of Bogus Purchase on borrowed satisfaction from VAT Dept. without Proper Cross-Verification: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench has deleted the addition made on the allegation of bogus purchase on borrowed satisfaction...
![No Search Conducted on Assessee: ITAT upholds Deletion of Penalty u/s 271AAB on Undisclosed Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Assessee-ITAT-Penalty-Undisclosed-Income-taxscan.jpeg "No Search Conducted on Assessee: ITAT upholds Deletion of Penalty u/s 271AAB on Undisclosed Income [Read Order]")
![Electricity has all necessary Trappings of Articles, addition liable to be deleted: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Electricity-articles-ITAT-taxscan.jpeg "Electricity has all necessary Trappings of Articles, addition liable to be deleted: ITAT [Read Order]")
![Revisionary Powers cannot be exercised Arbitrarily: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Revisionary-Powers-ITAT-taxscan.jpeg "Revisionary Powers cannot be exercised Arbitrarily: ITAT [Read Order]")
![Liabilities payable to Central or State Govt in any period prior to Acquisition will be Written Off in full in terms of Resolution Plan as approved by NCLT: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Liabilities-Central-State-Government-acquisition-resolution-plan-NCLT-ITAT-taxscan.jpg "Liabilities payable to Central or State Govt in any period prior to Acquisition will be Written Off in full in terms of Resolution Plan as approved by NCLT: ITAT [Read Order]")
No Income Tax on Compensation received for Compulsory Acquisition of Land by Govt: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Patna Bench has held that no Income tax on compensation is received for compulsory acquisition of land by the government. The assessee, Shri Suresh Prasad...
![No Income Tax on Compensation received for Compulsory Acquisition of Land by Govt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Income-tax-compensation-acquisition-of-land-Govt-ITAT-taxscan.jpg "No Income Tax on Compensation received for Compulsory Acquisition of Land by Govt: ITAT [Read Order]")
Mere Non Production of Stock Register cannot be ground to reject declared Trading Results: ITAT [Read Order]
Income Tax Appellate Tribunal (ITAT), New Delhi held that mere none production of stock register cannot be ground to reject declared trading results. The assessee company, Rakesh Global Steel Pvt...
![Mere Non Production of Stock Register cannot be ground to reject declared Trading Results: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/stock-register-ITAT-taxscan.jpeg "Mere Non Production of Stock Register cannot be ground to reject declared Trading Results: ITAT [Read Order]")
Interest on FDR can be treated as Income from Other Sources under Sec 56, If claim of 80P got rejected: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) comprising Shri P M Jagtap, vice president and Ms Suchitra Kamble, the judicial member has held that interest in FDR can be treated as...
![Interest on FDR can be treated as Income from Other Sources under Sec 56, If claim of 80P got rejected: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Interest-FDR-income-from-other-sources-ITAT-taxscan-1.jpg "Interest on FDR can be treated as Income from Other Sources under Sec 56, If claim of 80P got rejected: ITAT [Read Order]")
![State cant take undue benefit: ITAT allows Rectification of Typographical Errors [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/ITAT-typographical-errors-taxscan.jpeg "State cant take undue benefit: ITAT allows Rectification of Typographical Errors [Read Order]")
Interest received by Bank post Liquidation can’t be Taxed if diverted at Source as per DICGCI: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that Interest received by the bank post liquidation can’t e taxed if diverted at source as per the provision of the Deposit,...
![Interest received by Bank post Liquidation can’t be Taxed if diverted at Source as per DICGCI: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Interest-bank-post-liquidation-DICGCI-ITAT-taxscan.jpg "Interest received by Bank post Liquidation can’t be Taxed if diverted at Source as per DICGCI: ITAT [Read Order]")
Statutory Dues and Claim stands frozen after Approval of Resolution Plan by IBC: ITAT [Read Order]
In the case of Deccan Chronicle Holdings Limited, the Hyderabad bench of the Income Tax Appellate Tribunal(ITAT) has held that statutory dues and claims stand frozen after approval of the resolution...
![Statutory Dues and Claim stands frozen after Approval of Resolution Plan by IBC: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Claim-resolution-plan-IBC-ITAT-taxscan.jpg "Statutory Dues and Claim stands frozen after Approval of Resolution Plan by IBC: ITAT [Read Order]")
Grant to operate Project under Government is License, eligible for Depreciation of Intangible Asset: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the grant to operate a project under the government is a license and is eligible for depreciation of the intangible asset. The...
![Grant to operate Project under Government is License, eligible for Depreciation of Intangible Asset: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/license-depreciation-intangible-asset-ITAT-taxscan.jpeg "Grant to operate Project under Government is License, eligible for Depreciation of Intangible Asset: ITAT [Read Order]")