ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Income earned by way of Interest and claimed under Income from Other Sources shall be Allowable Expenditure u/s 57(iii): ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Income-earned-by-way-of-Interest-Income-from-Other-Sources-ITAT-taxscan.jpg "Income earned by way of Interest and claimed under Income from Other Sources shall be Allowable Expenditure u/s 57(iii): ITAT [Read Order]")
Income earned by way of Interest and claimed under "Income from Other Sources" shall be Allowable Expenditure u/s 57(iii): ITAT [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the income earned by way of interest and claimed under income from other...
![Relief to Havells India: ITAT deletes disallowance of sales incentive payable to dealers and distributors under “Shahenshah Scheme” [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Havells-India.jpg "Relief to Havells India: ITAT deletes disallowance of sales incentive payable to dealers and distributors under “Shahenshah Scheme” [Read Order]")
![Identity and Creditworthiness of transactions of Purchase and Sale of Shares at par value without earning any Capital Gain duly explained: ITAT deletes Addition made u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Identity-Creditworthiness-of-transactions-Purchase-and-Sale-of-Shares-Capital-Gain-ITAT-of-Income-Tax-Act-taxscan.jpg "Identity and Creditworthiness of transactions of Purchase and Sale of Shares at par value without earning any Capital Gain duly explained: ITAT deletes Addition made u/s 68 of Income Tax Act [Read Order]")
![Disallowance/Addition of loss Cannot be raised when not claimed in Computation of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Disallowance-Addition-of-loss-Computation-of-Income-ITAT-Income-Tax-Appellate-Tribunal-taxscan.jpg "Disallowance/Addition of loss Cannot be raised when not claimed in Computation of Income: ITAT [Read Order]")
![Additions cant be allowed on Unsecured loans incurred wholly and exclusively for Purpose of Business: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Additions-Unsecured-loans-incurred-wholly-and-exclusively-for-Purpose-of-Business-ITAT-TAXSCAN.jpg "Additions cant be allowed on Unsecured loans incurred wholly and exclusively for Purpose of Business: ITAT [Read Order]")
Addition u/s 69B can't be made by AO purely based upon conjectures/surmises and without considering Evidences produced: ITAT [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the addition under Section 69B of the Income Tax Act, 1961 cannot be made by the Assessing Officer purely based upon the...
![Addition u/s 69B cant be made by AO purely based upon conjectures/surmises and without considering Evidences produced: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Addition-purely-based-upon-conjectures-surmises-and-without-considering-Evidences-produced-ITAT-TAXSCAN.jpg "Addition u/s 69B cant be made by AO purely based upon conjectures/surmises and without considering Evidences produced: ITAT [Read Order]")
Interest Income from investment in Co-operative bank governed by Tamil Nadu Co-operative Societies Act eligible for deduction u/s 80P(2)(d) of Income Tax [Read Order]
The Income Tax Appellate Tribunal (ITAT), Chennai Bench held that interest income from investments in cooperative banks governed by the Tamil Nadu Co-operative Societies Act is eligible for deduction...
![Interest Income from investment in Co-operative bank governed by Tamil Nadu Co-operative Societies Act eligible for deduction u/s 80P(2)(d) of Income Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/site-13-1.jpg "Interest Income from investment in Co-operative bank governed by Tamil Nadu Co-operative Societies Act eligible for deduction u/s 80P(2)(d) of Income Tax [Read Order]")
Interest received by Cooperative Societies from Cooperative Banks Eligible for Deduction under Section 80P of Income Tax: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest received by the cooperative societies from cooperative banks is eligible for deduction under Section 80P of the...
![Interest received by Cooperative Societies from Cooperative Banks Eligible for Deduction under Section 80P of Income Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Interest-received-by-Cooperative-Societies-Cooperative-Banks-Eligible-for-Deduction-Income-Tax-ITAT-TAXSCAN.jpg "Interest received by Cooperative Societies from Cooperative Banks Eligible for Deduction under Section 80P of Income Tax: ITAT [Read Order]")
![Non-Awareness of Tax Payment: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Non-Awareness-of-Tax-Payment-ITAT-deletes-Penalty-Income-Tax-Act-TAXSCAN.jpg "Non-Awareness of Tax Payment: ITAT deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]")
Non-Responding and Non-Complaining before PCIT when issue Restored to AO for Proper Enquiries cannot make Revision Illegal and not Maintainable: ITAT [Read Order]
The Raipur Bench of Income Tax Appellate Tribunal (ITAT) has held that non responding and non-complaining before Principal Commissioner of Income Tax (PCIT) when issue was restored to the Assessing...
![Non-Responding and Non-Complaining before PCIT when issue Restored to AO for Proper Enquiries cannot make Revision Illegal and not Maintainable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Non-Responding-and-Non-Complaining-before-PCIT-when-issue-Restored-Proper-Enquiries-Revision-Illegal-Maintainable-ITAT-TAXSCAN.jpg "Non-Responding and Non-Complaining before PCIT when issue Restored to AO for Proper Enquiries cannot make Revision Illegal and not Maintainable: ITAT [Read Order]")
Claim of Deduction by Mistake against Other Property which was otherwise Considerable: ITAT Allows Deduction as to Cost of Improvement u/s 48(ii) [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has allowed the deduction as to cost of improvement under Section 48(ii) of Income Tax Act as the deduction has been claimed by mistake against...
![Claim of Deduction by Mistake against Other Property which was otherwise Considerable: ITAT Allows Deduction as to Cost of Improvement u/s 48(ii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Claim-of-Deduction-by-Mistake-Property-otherwise-Considerable-ITAT-Allows-Deduction-Cost-of-Improvement-.jpg "Claim of Deduction by Mistake against Other Property which was otherwise Considerable: ITAT Allows Deduction as to Cost of Improvement u/s 48(ii) [Read Order]")
ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the addition of Long-Term Capital Gain (LTCG) under Section 50C of the Income Tax Act based on the unregistered deed merely entered...
![ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Addition-on-LTCG-Unregistered-Deeds-merely-Entered-in-Judicial-Stamp-Papers-TAXSCAN.jpg "ITAT upholds Addition on LTCG u/s 50C based on Unregistered Deeds merely Entered in Judicial Stamp Papers [Read Order]")