ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Co-operative Society shall Liable to Furnish AIR only after Amendment u/r 114 E of Income Tax Rules: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Co-operative-Society-Annual-Information-Report-Income-Tax-Rules-penalty-ITAT-Income-Tax-Rules-taxscan.jpg "Co-operative Society shall Liable to Furnish AIR only after Amendment u/r 114 E of Income Tax Rules: ITAT deletes Penalty [Read Order]")
Co-operative Society shall Liable to Furnish AIR only after Amendment u/r 114 E of Income Tax Rules: ITAT deletes Penalty [Read Order]
The Bangalore bench of Income Tax Appellate Tribunal (ITAT) has recently held that co-operative societies should be liable to furnish Annual...
![No Addition can be made u/s 153A of the Income Tax Act in the Absence of Seizure of Incriminating Materials during Search Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-Addition-Income-Tax-Act-Seizure-of-Incriminating-Materials-during-Search-Proceedings-Seizure-of-Incriminating-Materials-Search-Proceedings-ITAT-Taxscan.jpg "No Addition can be made u/s 153A of the Income Tax Act in the Absence of Seizure of Incriminating Materials during Search Proceedings: ITAT [Read Order]")
![AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/AO-ITAT-claim-inx-news-business-loss-business-activity-ITAT-allows-Business-Loss-Claim-taxscan.jpg "AO Fails to Appreciate Nature of Business Activity of INX News: ITAT allows Business Loss Claim [Read Order]")
![Rectification Order passed u/s 154 of Income Tax Act without Proper Verification: ITAT directs Re-Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Rectification-Order-Income-Tax-Act-Income-Tax-Act-without-Proper-Verification-Proper-Verification-ITAT-directs-re-adjudication-ITAT-Taxscan.jpg "Rectification Order passed u/s 154 of Income Tax Act without Proper Verification: ITAT directs Re-Adjudication [Read Order]")
![Revision order passed u/s 263 of Income Tax Act without jurisdiction: ITAT sets aside Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Revision-order-Income-Tax-Act-jurisdiction-ITAT-sets-aside-Order-ITAT-Order-Taxscan.jpg "Revision order passed u/s 263 of Income Tax Act without jurisdiction: ITAT sets aside Order [Read Order]")
Shares Issued for Premium above FMV Taxable for Closely-held Company under Income from Other Sources u/s 56(2)(viib) of Income Tax Act, exempt for Investor: ITAT
The Income Tax Appellate Tribunal (ITAT), Patna Bench has held that the differential amount received by way of the issue of shares for a Premium above the Fair Market Value (FMV) shall be taxable for...
S. 44B of Income Tax Act Not Applicable as NLU is 'Local Authority', Not Carrying out Business: ITAT Quashes Penalty [Read Order]
While entertaining the appeal of the National Law University, Delhi (NLUD), the Delhi bench of Income tax Appellate Tribunal (ITAT) of quashed the penalty order passed under Section 271B of the...
![S. 44B of Income Tax Act Not Applicable as NLU is Local Authority, Not Carrying out Business: ITAT Quashes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-Tax-Act-Not-Applicable-as-NLU-NLU-Business-ITAT-Quashes-Penalty-ITAT-Penalty-Taxscan.jpg "S. 44B of Income Tax Act Not Applicable as NLU is Local Authority, Not Carrying out Business: ITAT Quashes Penalty [Read Order]")
AO cannot take the position of Businessman to Replace his Strategy Irrationally: ITAT deletes Additions [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the Assessing Officer without any justification or appealing basis in light of the Principal Tax Jurisprudence...
![AO cannot take the position of Businessman to Replace his Strategy Irrationally: ITAT deletes Additions [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/AO-cannot-take-the-position-of-Businessman-AO-Businessman-ITAT-deletes-Additions-ITAT-Additions-Taxscan.jpg "AO cannot take the position of Businessman to Replace his Strategy Irrationally: ITAT deletes Additions [Read Order]")
S. 69 Addition not Sustainable on Mere Delay in Deposit During Demonetisation Period: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that addition under Section 69 of the Income Tax Act 1961 is not sustainable on mere delay in deposit during demonetisation period. ...
![S. 69 Addition not Sustainable on Mere Delay in Deposit During Demonetisation Period: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Addition-not-Sustainable-on-Mere-Delay-Deposit-During-Demonetisation-Period-ITAT-TAXSCAN.jpg "S. 69 Addition not Sustainable on Mere Delay in Deposit During Demonetisation Period: ITAT [Read Order]")
Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT [Read Order]
The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that material found from premises of third parties could not be utilized against assessee for assessment ...
![Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Material-Found-from-Premises-Third-Parties-cannot-be-utilized-assessee-for-making-Assessment-ITAT-TAXSCAN.jpg "Material Found from Premises of Third Parties cannot be Utilized against Assessee for making Assessment u/s 143(3) r.w.s. 153A of IT Act :ITAT [Read Order]")
Deemed Dividends cannot be Taxed in the Hands of Non-Shareholders: ITAT Deletes Addition [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has deleted the additional holding that the deemed dividends could not be taxed in the hands of non-shareholders. The Assessing Officer...
![Deemed Dividends cannot be Taxed in the Hands of Non-Shareholders: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Deemed-Dividends-cannot-Taxed-in-the-Hands-of-Non-Shareholders-ITAT-Deletes-Addition-TAXSCAN.jpg "Deemed Dividends cannot be Taxed in the Hands of Non-Shareholders: ITAT Deletes Addition [Read Order]")