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Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.

Prima facie belief that there is Escape of Income is sufficient proof to Re-Open Assessment: ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Pune bench presided by S.S.Godara, Judicial Member held that prima facie belief that there is the escape of...

Evidence for Verification of Cash Deposit would invalidate Reopening of Assessment u/s 147: ITAT...

Addition u/s 68 will not sustain in the presence of Evidence which proves Authenticity of...

Non-Filing of Audit Report due to Virus Attack in System: ITAT Condones Delay [Read Order]

Exemption u/s 10(2A) applicable to Legitimate Share of Profit earned based on LLP Agreement: ITAT...

Expenses vouched and Verified incompletely will invalidate the Addition: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Amritsar bench has held that expenses vouched and verified incompletely will invalidate the addition to the Income. Shri Kul Bharat, Judicial member...

Cash Gift from Relatives: ITAT upholds Addition against Non-Resident [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has upheld addition against the assessee, a non-resident since he was unable to prove the genuineness of the cash gift received under...

Late Action by New Auditor is reasonable cause for Non-Imposition of Penalty u/s 271B: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) has held that, Late action by new auditor is reasonable cause for non-imposition of penalty under Section 271B of the Income Tax Act. The assessee, M/s....

Principal Component of Lease Rental can be treated as Revenue Expenditure u/s 37: ITAT [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the principal component can be treated as revenue expenditure u/s 37 of the Income Tax Act 1961. Shri S. Sridhar...

Addition of Unexplained Income u/s 69 not sustainable in the presence of duly Audited Regular Books: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Chandigarh Bench has held that the addition of unexplained income u/s 69 is not sustainable in the presence of the duly audited regular books. The...

Mentioning of PAN does not attribute Transaction or Credit to Assessee: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi held that mentioning PAN does not attribute transaction or credit to an assessee. The department, Shri Madhav Kumar Swarup, claimed to have been...

Entertainment subsidy falls under Capital Receipt: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune held that Entertainment subsidy falls under capital receipt. The appeal has been filed by the Revenue against the order of the Commissioner of Income...

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