ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Non - Invocation of Section 115 BBE of Income Tax Act on the addition made on account of unexplained sundry creditors is an error in assessment order: ITAT upholds Revision order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Non-Invocation-of-Section-115-BBE-of-Income-Tax-Act-on-the-addition-made-on-account-of-unexplained-sundry-creditors-is-an-error-in-assessment-order-ITAT-upholds-Revision-order-TAXSCAN.jpg "Non - Invocation of Section 115 BBE of Income Tax Act on the addition made on account of unexplained sundry creditors is an error in assessment order: ITAT upholds Revision order [Read Order]")
Non - Invocation of Section 115 BBE of Income Tax Act on the addition made on account of unexplained sundry creditors is an error in assessment order: ITAT upholds Revision order [Read Order]
The Rajkot bench of Income Tax Appellate Tribunal (ITAT) upheld the revision order of the Principal Commissioner of Income Tax (PCIT), holding the...
![ITAT directs to compute addition towards 2% of profit on sale of silver by assessee found during Search proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-to-compute-addition-towards-profit-on-sale-of-silver-by-assessee-found-during-Search-proceedings-TAXSCAN.jpg "ITAT directs to compute addition towards 2% of profit on sale of silver by assessee found during Search proceedings [Read Order]")
![ITAT directs to compute addition towards 2% of Profit on Sale of Gold by assessee found during Search and Seizure [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-directs-to-compute-addition-towards-Profit-on-Sale-of-Gold-by-assessee-found-during-Search-and-Seizure-TAXSCAN.jpg "ITAT directs to compute addition towards 2% of Profit on Sale of Gold by assessee found during Search and Seizure [Read Order]")
![ITAT deletes Addition made u/s 69 of Income Tax Act without detecting material to establish Undisclosed Transactions involving Sale/Purchase of Gold in Cash outside Books of Accounts [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-ncome-Tax-Act-material-to-establish-Undisclosed-Transactions-involving-Sale-Purchase-of-Gold-in-Cash-outside-Books-of-Accounts-TAXSCAN.jpg "ITAT deletes Addition made u/s 69 of Income Tax Act without detecting material to establish Undisclosed Transactions involving Sale/Purchase of Gold in Cash outside Books of Accounts [Read Order]")
![Gift received from mother shall not be termed as Unexplained Cash Credits: ITAT deletes addition imposed u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Gift-received-Unexplained-Cash-Credits-ITAT-Income-Tax-Act-TAXSCAN.jpg "Gift received from mother shall not be termed as Unexplained Cash Credits: ITAT deletes addition imposed u/s 68 of Income Tax Act [Read Order]")
AO's failure to verify Nature and Source of Income: ITAT upholds Revision Order of Pr. CIT [Read Order]
The Raipur branch of the Income Tax Appellate Tribunal (ITAT) upheld the revision order issued by the Principal Commissioner of Income Tax (Pr. CIT) under Section 263 of Income Tax Act, 1961 on...
![AOs failure to verify Nature and Source of Income: ITAT upholds Revision Order of Pr. CIT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Reopening-Reopening-Case-initiated-failure-Cash-deposits-AO-taxscan-1.jpg "AOs failure to verify Nature and Source of Income: ITAT upholds Revision Order of Pr. CIT [Read Order]")
No addition can be made u/s 153A in absence of incriminating evidence found as a result of search, if the assessment is unabated: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal held that in absence of any incriminating material, no addition can be made in the assessment framed under Section 153A/153C of the Income Tax...
![No addition can be made u/s 153A in absence of incriminating evidence found as a result of search, if the assessment is unabated: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/No-additio-absence-of-incriminating-evidence-found-as-a-result-of-search-assessment-is-unabated-ITAT-TAXSCAN.jpg "No addition can be made u/s 153A in absence of incriminating evidence found as a result of search, if the assessment is unabated: ITAT [Read Order]")
Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the interest paid on delayed payments of Tax Deducted at Source (TDS) under Section 201(1A) of the Income Tax Act, 1961 is not...
![Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Interest-Paid-on-Delayed-Payment-of-TDS-Interest-Payment-of-TDS-TDS-Income-Tax-Act-Income-Tax-ITAT-Taxscan.jpg "Interest Paid on Delayed Payment of TDS u/s 201(1A) of Income Tax Act is not Eligible for Allowance as Business Expenditure: ITAT [Read Order]")
Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that the disallowance of setoff of short-term capital loss is allowable to set-off against short-term capital gain under Section 70...
![Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Disallowance-of-set-off-of-short-term-capital-loss-allowable-to-set-off-against-short-term-capital-gain-Income-Tax-Act-ITAT-TAXSCAN.jpg "Disallowance of set-off of short-term capital loss allowable to set-off against short term capital gain u/s 70 and 71 of Income Tax Act: ITAT [Read Order]")
![Computers and Computer Peripherals are Eligible for Depreciation of 60%: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Computers-and-Computer-Peripherals-Eligible-for-Depreciation-ITAT-TAXSCAN.jpg "Computers and Computer Peripherals are Eligible for Depreciation of 60%: ITAT [Read Order]")
Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesn't attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) held that the provision of gratuity after deduction of the actual gratuity charged to the profit in the profit/ loss account doesn’t...
![Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesnt attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Provision-of-Gratuity-deduction-of-Actual-Gratuity-charged-to-Profit-in-P-L-Account-disallowance-ITAT-directs-AO-for-fresh-Consideration-TAXSCAN.jpg "Provision of Gratuity after deduction of Actual Gratuity charged to Profit in P/L Account doesnt attract disallowance u/s 37: ITAT directs AO for fresh Consideration [Read Order]")