ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Sec 54B Exemption not Available If Assessee purchased New Land in the name of Sons out of Sale Proceeds: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/S.-54B-Exemption-Assessee-purchased-New-Land-Sons-out-Sale-Proceeds-ITAT-taxscan-1.jpeg "Sec 54B Exemption not Available If Assessee purchased New Land in the name of Sons out of Sale Proceeds: ITAT [Read Order]")
Sec 54B Exemption not Available If Assessee purchased New Land in the name of Sons out of Sale Proceeds: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the exemption under section 54B of the Income Tax Act, 1961 is not available if...
![Whether Nazrana paid to State Govt to receive Marketable Title for Transfer of Land would be treated as Cost of Acquistion: ITAT directs Dept to Re-verify Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Whether-Nazrana-State-Government-Marketable-Title-Transfer-of-Land-Cost-of-Acquistion-ITAT-Re-verify-Claim-taxscan.jpg "Whether Nazrana paid to State Govt to receive Marketable Title for Transfer of Land would be treated as Cost of Acquistion: ITAT directs Dept to Re-verify Claim [Read Order]")
![Delay due to Medical Condition is a Reasonable Cause: ITAT Condones Delay of 268 Days by 71 Year Old Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Medical-Condition-Reasonable-Cause-ITAT-Assessee-taxscan.jpeg "Delay due to Medical Condition is a Reasonable Cause: ITAT Condones Delay of 268 Days by 71 Year Old Assessee [Read Order]")
![Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Compensation-Compulsory-Acquisition-Land-ITAT-Taxscan.jpg "Income Tax cannot be levied on Compensation received from Compulsory Acquisition of Land: ITAT [Read Order]")
![Income Tax Practitioner misled Assessee in making False Refund: ITAT deletes Penalty against Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-ITAT-Penalty-Assessee-Taxscan.jpg "Income Tax Practitioner misled Assessee in making False Refund: ITAT deletes Penalty against Assessee [Read Order]")
Amendment to Sections 36(1)(va) and 43B under Finance Act, 2021 has no Retrospective Effect: ITAT deletes Addition [Read Order]
The ITAT, Delhi bench, relying on a catena of decisions, has observed that amendment to Section 36 (1)(va) and Section 43B effected by Finance Act 2021 is having prospective effect, cannot be applied...
![Amendment to Sections 36(1)(va) and 43B under Finance Act, 2021 has no Retrospective Effect: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Amendment-Finance-Act-Retrospective-Effect-ITAT-deletes-Addition-taxscan.jpg "Amendment to Sections 36(1)(va) and 43B under Finance Act, 2021 has no Retrospective Effect: ITAT deletes Addition [Read Order]")
Revisional Order cannot passed just because the decision of the Assessing Officer is not to the liking of PCIT: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the revisional jurisdiction under section 263 of the Income Tax Act, 1961 cannot be passed merely because the decision of the...
![Revisional Order cannot passed just because the decision of the Assessing Officer is not to the liking of PCIT: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Revisional-Order-Assessing-Officer-liking-of-PCIT-ITAT-Taxscan.jpg "Revisional Order cannot passed just because the decision of the Assessing Officer is not to the liking of PCIT: ITAT [Read Order]")
![Addition u/s 153C should be based on Incriminating Materials found during Search: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Addition-Incriminating-Materials-Search-ITAT-taxscan.jpg "Addition u/s 153C should be based on Incriminating Materials found during Search: ITAT [Read Order]")
CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]
The ITAT, Delhi bench has held that CENVAT credit receivables which could not be set off are allowable as deduction under the Income Tax Act, 1961. The assessee is in the business of manufacturing...
![CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Income-Tax-Deduction-CENVAT-Credit-Deduction-ITAT-Taxscan.jpeg "CENVAT Credit receivables which couldn’t be Set Off can be allowable as Income Tax Deduction: ITAT [Read Order]")
Amount collected towards Corpus Fund cannot be treated as Perquisites in the Hands of the Company: ITAT deletes Addition [Read Order]
A two-Member bench of the Income Tax Appellate Tribunal (ITAT), Bangalore has held that the amount collected towards corpus fund cannot be treated as perquisites under section 28 of the Income Tax...
![Amount collected towards Corpus Fund cannot be treated as Perquisites in the Hands of the Company: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Amount-Fund-Perquisites-Company-ITAT-deletes-Addition.jpeg "Amount collected towards Corpus Fund cannot be treated as Perquisites in the Hands of the Company: ITAT deletes Addition [Read Order]")
Addl. Commissioner is not ‘Proper Officer’ for Re-Opening of Assessment after 4 Years: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the Addl. Commissioner is not a ‘Proper Officer’ for re-opening of assessment after 4 years under the Income Tax Act, 1961. ...
![Addl. Commissioner is not ‘Proper Officer’ for Re-Opening of Assessment after 4 Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Addl.-Commissioner-Proper-Officer-Re-Opening-Assessment-ITAT-Taxscan.jpg "Addl. Commissioner is not ‘Proper Officer’ for Re-Opening of Assessment after 4 Years: ITAT [Read Order]")
Consultant did not handle Proceedings Properly: ITAT directs AO to Conduct Proceedings Afresh [Read Order]
In an assessee-friendly ruling, the Income Tax Appellate Tribunal (ITAT), Bangalore bench has directed the Assessing Officer to conduct the proceedings afresh accepting the contention of the assessee...
![Consultant did not handle Proceedings Properly: ITAT directs AO to Conduct Proceedings Afresh [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Consultant-Proceedings-ITAT-Assessing-Officer-Taxscan.jpeg "Consultant did not handle Proceedings Properly: ITAT directs AO to Conduct Proceedings Afresh [Read Order]")