ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
ITAT Deletes Addition on Account of Cash Gifts Received from Mother through Gift Deed in Absence of Contrary Material
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition on account of cash gifts received from mother through gift deed as...
![Audit Report not Filed within Stipulated Time Limit as Books not Given to Qualified CA:ITAT Upholds Penalty u/s 271B [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Audit-Report-Stipulated-Time-Limit-Time-Limit-not-Filed-within-Stipulated-Time-Limit-Books-not-Given-to-Qualified-CA-CA-Books-Qualified-CA-ITAT-Penalty-taxscan.jpg "Audit Report not Filed within Stipulated Time Limit as Books not Given to Qualified CA:ITAT Upholds Penalty u/s 271B [Read Order]")
![Income from Sale of Agricultural land is not Capital Asset u/s 2(14)(iii) of IT Act, not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-from-Sale-of-Agricultural-land-is-not-Capital-Asset-ITAT-TAXSCAN.jpg "Income from Sale of Agricultural land is not Capital Asset u/s 2(14)(iii) of IT Act, not Taxable: ITAT [Read Order]")
![No Penalty u/s 271AAA on Surrendered Income without Statement recorded under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-No-Penalty-Surrendered-Income-Surrendered-Income-without-Statement-recorded-under-Income-Tax-Act-Income-Tax-Act-Income-Tax-Tax-ITAT-taxscan.jpg "No Penalty u/s 271AAA on Surrendered Income without Statement recorded under Income Tax Act: ITAT [Read Order]")
![No Reassessment u/s 147 of IT Act can be made based on a change of opinion: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Reassessment-IT-Act-ITAT-No-Reassessment-taxscan.jpg "No Reassessment u/s 147 of IT Act can be made based on a change of opinion: ITAT [Read Order]")
Indexation of Cost of Acquisition for calculation of LTCG is available from the AY in which Consideration is fully paid by Assessee: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cuttack Bench has held that indexation of Cost of Acquisition of property is available for the purpose of computation of Long Term Capital Gain (LTCG) from...
![Indexation of Cost of Acquisition for calculation of LTCG is available from the AY in which Consideration is fully paid by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Indexation-of-Cost-of-Acquisition-for-calculation-of-LTCG-is-available-from-the-AY-which-Consideration-is-fully-paid-by-Assessee-ITAT.jpg "Indexation of Cost of Acquisition for calculation of LTCG is available from the AY in which Consideration is fully paid by Assessee: ITAT [Read Order]")
Interest on FD received during setting-up of Business is not Business Income but Income from Other Sources: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the interest on Fixed Deposit (FD) received during the setting-up of business is not a Business Income but shall be treated as...
![Interest on FD received during setting-up of Business is not Business Income but Income from Other Sources: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Interest-on-FD-received-during-setting-up-of-business-not-Business-Income-but-Income-from-Other-Sources-ITAT-.jpg "Interest on FD received during setting-up of Business is not Business Income but Income from Other Sources: ITAT [Read Order]")
Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) quashed the order passed by the assessing officer under section 68 of the Income Tax Act,1961 for an addition made in the absence of...
![Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/IT-Act-could-not-made-Absence-of-any-Incriminating-Material-ITAT-TAXSCAN.jpg "Addition made by AO u/s 68 of IT Act could not made in Absence of any Incriminating Material: ITAT quashes Order [Read Order]")
Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench has held that the Legal & Professional charges incurred in connection with the business are to be treated as Revenue Expenditure. The...
![Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Legal-Professional-charges-incurred-towards-business-to-be-treated-Revenue-Expenditure-ITAT-RAXSCAN.jpg "Legal & Professional Charges Incurred Towards Business to be Treated as Revenue Expenditure: ITAT [Read Order]")
Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) directed the assessing officer to grant the credit of Tax deducted at source (TDS) of Rs. 40.43 crores to the Reliance Infrastructure Limited....
![Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Relief-to-Reliance-Infrastructure-Limited-ITAT-TAXSCAN.jpg "Relief to Reliance Infrastructure Limited: ITAT directs AO to Grant Credit of TDS of Rs 40.43 Crores [Read Order]")
ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]
The Income Tax Appellate Tribunal, Chennai Bench, has recently, in an appeal filed before it, directed to delete the disallowance of expenditure incurred towards except income based on book profits. ...
![ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-directs-to-Delete-Disallowance-Expenditure-incurred-towards-Exempt-Income-based-on-Book-Profits-ITAT-TAXSCAN.jpg "ITAT directs to Delete Disallowance of Expenditure incurred towards Exempt Income based on Book Profits [Read Order]")