ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Addition made on basis of deeming provisions of Section 2(22)(e) of Income Tax Act is for Estimating Income and not for Inaccurate Particulars of Income: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-deeming-provisions-of-Section-222e-of-Income-Tax-Act-Estimating-Income-and-not-for-Inaccurate-Particulars-of-Income-ITAT-deletes-penalty-2711c-Income-Tax-Act-TAXSCAN.jpg "Addition made on basis of deeming provisions of Section 2(22)(e) of Income Tax Act is for Estimating Income and not for Inaccurate Particulars of Income: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]")
Addition made on basis of deeming provisions of Section 2(22)(e) of Income Tax Act is for Estimating Income and not for Inaccurate Particulars of Income: ITAT deletes penalty u/s 271(1)(c) of Income Tax Act [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench, held that the addition made on the basis of the deeming provisions of section 2(22)(e) of the...
![ALV of Vacant Property in Unsold Flats form held as Stock-in-Trade and Remained Vacant during year is NIL: ITAT allows Vacancy allowance [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Vacant-Property-Unsold-Flats-Stock-in-Trade-Remained-Vacant-ITAT-taxscan.jpg "ALV of Vacant Property in Unsold Flats form held as Stock-in-Trade and Remained Vacant during year is NIL: ITAT allows Vacancy allowance [Read Order]")
![ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-deletes-Addition-made-towards-Gift-of-cash-amount-deposited-ICICI-Bank-taxscan.jpg "ITAT deletes Addition made towards Gift of cash amount deposited in ICICI Bank received from in laws [Read Order]")
![ITAT upholds addition made u/s 56(2)(viib) of Income Tax Act on account of excess consideration received on Allotment of Shares [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-upholds-addition-Income-Tax-Act-Allotment-of-Shares-taxscan.jpg "ITAT upholds addition made u/s 56(2)(viib) of Income Tax Act on account of excess consideration received on Allotment of Shares [Read Order]")
![Assessment Order and Notice Issued u/s 153 C of Income Tax Act without Jurisdiction: Kerala HC Directs to File Appeal before ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Assessment-Order-Income-Tax-Act-without-Jurisdiction-Kerala-HC-File-Appeal-ITAT-taxscan.jpg "Assessment Order and Notice Issued u/s 153 C of Income Tax Act without Jurisdiction: Kerala HC Directs to File Appeal before ITAT [Read Order]")
Failure to Explain Source of Cash Deposit in Bank Account: ITAT Upholds Income Tax Addition [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the upheld income addition on failure to explain the source of cash deposit in bank account. The assessee, Mohan was engaged in...
![Failure to Explain Source of Cash Deposit in Bank Account: ITAT Upholds Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-to-Explain-Source-Cash-Deposit-in-Bank-Account-ITAT-Income-Tax-Addition-TAXSCAN.jpg "Failure to Explain Source of Cash Deposit in Bank Account: ITAT Upholds Income Tax Addition [Read Order]")
Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]
The Chennai Bench of Income tax Appellate Tribunal (ITAT) held that due to no explanation of assessee for allowability of freight expenditure and labour charges, claimed by assessee in closing stock....
![Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Failure-of-assessee-freight-expenditure-labour-charges-closing-stock-ITAT-taxscan.jpg "Failure of assessee to explain allowability of freight expenditure and labour charges payable, claimed in closing stock: ITAT dismisses appeal [Read Order]")
AO cannot direct to produce Profit and Loss Account to show source of Expenditure not recorded in Gross Receipt u/s 44AD: ITAT deletes Penalty [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench, held that the assessing officer could not direct the assessee to produce a profit and loss account to show the source of expenditure when the...
![AO cannot direct to produce Profit and Loss Account to show source of Expenditure not recorded in Gross Receipt u/s 44AD: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/AO-direct-to-produce-Profit-and-Loss-Account-to-show-source-of-Expenditure-recorded-in-Gross-Receipt-ITAT-deletes-Penalty-TAXSCAN.jpg "AO cannot direct to produce Profit and Loss Account to show source of Expenditure not recorded in Gross Receipt u/s 44AD: ITAT deletes Penalty [Read Order]")
Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while observing that excess interest paid to the partners of the firm was due to a mistake in the Tax audit report, directed it for...
![Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Excess-interest-paid-to-partners-mistake-in-Tax-Audit-Report-ITAT-Readjudication-taxscan.jpg "Excess interest paid to partners due to mistake in Tax Audit Report: ITAT directs Readjudication [Read Order]")
Third-Party Statements cannot be used against assessee until and unless the opportunity of cross examination is afforded: ITAT deletes of addition made u/s 68 IT Act towards receipt of interest free unsecured loan [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, held that third-party statements cannot be used against the assessee until and unless the opportunity of cross-examination is afforded....
![Third-Party Statements cannot be used against assessee until and unless the opportunity of cross examination is afforded: ITAT deletes of addition made u/s 68 IT Act towards receipt of interest free unsecured loan [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Third-Party-Statements-used-against-assessee-until-and-unless-the-opportunity-of-cross-examination-is-afforded-TATIT-Act-towards-receipt-of-interest-free-unsecured-loan-TAXSCAN.jpg "Third-Party Statements cannot be used against assessee until and unless the opportunity of cross examination is afforded: ITAT deletes of addition made u/s 68 IT Act towards receipt of interest free unsecured loan [Read Order]")
Claim of Credit of TCS by Individual License holder can't be allowed when it has already been allowed to Partnership Firm: ITAT [Read Order]
The Indore bench of the Income Tax Appellate Tribunal (ITAT) held that the claim of credit of Tax Collected at Source (TCS) by individual license holders can’t be allowed when it has already been...
![Claim of Credit of TCS by Individual License holder cant be allowed when it has already been allowed to Partnership Firm: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-of-Credit-TCS-Individual-License-holder-Partnership-Firm-ITAT-TAXSCAN.jpg "Claim of Credit of TCS by Individual License holder cant be allowed when it has already been allowed to Partnership Firm: ITAT [Read Order]")
Capital Gain Deduction u/s 54F of Income Tax Act cannot be allowed without holding Flats for a minimum period of 3 years: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that the capital gain deduction under Section 54F of the Income Tax Act, 1961 cannot be allowed without holding flats for a...
![Capital Gain Deduction u/s 54F of Income Tax Act cannot be allowed without holding Flats for a minimum period of 3 years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Capital-Gain-Deduction-54F-of-Income-Tax-Act-allowed-without-holding-Flats-for-a-minimum-ITAT-TAXSCAN.jpg "Capital Gain Deduction u/s 54F of Income Tax Act cannot be allowed without holding Flats for a minimum period of 3 years: ITAT [Read Order]")