ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Source of Money cannot be doubted If Fixed Deposits are made out of Savings: ITAT grants Relief to Senior Citizen Lady [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Tax-Savings-Source-of-Money-Fixed-Deposits-Savings-ITAT-Senior-Citizen-Lady-Taxscan.jpeg "Source of Money cannot be doubted If Fixed Deposits are made out of Savings: ITAT grants Relief to Senior Citizen Lady [Read Order]")
Source of Money cannot be doubted If Fixed Deposits are made out of Savings: ITAT grants Relief to Senior Citizen Lady [Read Order]
In a woman-friendly ruling, the Cuttack bench of the Income Tax Appellate Tribunal (ITAT) has held that the source of money cannot be doubted if the...
![Subscription Money received in advance by Sun Direct TV from Customers shall be treated as Deferred Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Subscription-Money-Sun-Direct-TV-Deferred-Income-ITAT-Taxscan.jpg "Subscription Money received in advance by Sun Direct TV from Customers shall be treated as Deferred Income: ITAT [Read Order]")
Loss due to Exchange Fluctuation is Revenue Expenditure: Supreme Court grants Relief to Wipro [Read Judgment]
In a major relief to Wipro Finance Ltd., the Supreme Court observed that the loss suffered owing to exchange fluctuation can be regarded as revenue expenditure and thus an allowable deduction. The...
![Loss due to Exchange Fluctuation is Revenue Expenditure: Supreme Court grants Relief to Wipro [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/04/Loss-due-to-Exchange-Fluctuation-Revenue-Expenditure-Supreme-Court-Relief-to-Wipro.jpeg "Loss due to Exchange Fluctuation is Revenue Expenditure: Supreme Court grants Relief to Wipro [Read Judgment]")
Interest from FDRs made for Business Purposes and for getting Tender shall be treated as 'Business Income': ITAT [Read Order]
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that the interest income received from the FDRs made for business purposes and for getting the tender from the Electricity Board...
![Interest from FDRs made for Business Purposes and for getting Tender shall be treated as Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Interest-FDRs-Tender-Business-Income-ITAT-taxscan.jpeg "Interest from FDRs made for Business Purposes and for getting Tender shall be treated as Business Income: ITAT [Read Order]")
Income Tax Law does not prohibit Assessing Officer to go beyond the Reasons based on which Re-Assessment Initiated: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that there is no prohibition under the law that the Assessing Officer is required to confine assessment on the issue for which...
![Income Tax Law does not prohibit Assessing Officer to go beyond the Reasons based on which Re-Assessment Initiated: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Income-Tax-Law-Assessing-Officer-Re-Assessment-ITAT-Assessement-Taxscan.jpeg "Income Tax Law does not prohibit Assessing Officer to go beyond the Reasons based on which Re-Assessment Initiated: ITAT [Read Order]")
Delay of 1217 Days in filing Appeal due to Covid-19: ITAT imposes Cost of Rs. 25,000 to Condone Delay [Read Order]
While condoning a delay of 1217 days in filing an income tax appeal due to covid-19 pandemic, the Income Tax Appellate Tribunal (ITAT), Chennai bench has imposed a cost of Rs. 25,000 n the assessee...
![Delay of 1217 Days in filing Appeal due to Covid-19: ITAT imposes Cost of Rs. 25,000 to Condone Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Delay-filing-Appeal-Covid-19-ITAT-condone-Delay-Taxscan.jpeg "Delay of 1217 Days in filing Appeal due to Covid-19: ITAT imposes Cost of Rs. 25,000 to Condone Delay [Read Order]")
Cash Transactions between Trust and Managing Trustee are not covered u/s 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the managing trustee of the society is not covered by the expression “any other persons” occurring in section 269SS or...
![Cash Transactions between Trust and Managing Trustee are not covered u/s 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Cash-Transactions-Trust-Managing-Trustee-Income-Tax-Act-ITAT-Penalty-Taxscan.jpg "Cash Transactions between Trust and Managing Trustee are not covered u/s 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]")
Appeal Delayed due to Medical Grounds and Lack of Proper Legal Advise: ITAT condones Delay of 4 Years [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench has condoned a delay of 1535 days (approximately 4 years) in filing the appeal since the assessee has reasonable ground for such delay due to...
![Appeal Delayed due to Medical Grounds and Lack of Proper Legal Advise: ITAT condones Delay of 4 Years [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Appeal-Medical-Grounds-Lack-of-Proper-Legal-Advise-ITAT.jpg "Appeal Delayed due to Medical Grounds and Lack of Proper Legal Advise: ITAT condones Delay of 4 Years [Read Order]")