ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![ITAT quashes addition made on account of determination of Annual Letting Value in respect of Unsold Residential Units [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-quashes-addition-ITAT-made-on-account-account-determination-of-Annual-Letting-Value-Annual-Letting-Value-Unsold-Residential-Units-Residential-Units-taxscan.jpg "ITAT quashes addition made on account of determination of Annual Letting Value in respect of Unsold Residential Units [Read Order]")
ITAT quashes addition made on account of determination of Annual Letting Value in respect of Unsold Residential Units [Read Order]
The Pune bench of Income Tax Appellate Tribunal (ITAT) has recently quashed additions made on account of determination of Annual Letting...
![ITAT deletes Addition on account of Bad Debts claimed in Profit and Loss Account [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-deletes-Addition-on-account-Bad-Debts-claimed-in-Profit-and-Loss-Account-TAXSCAN.jpg "ITAT deletes Addition on account of Bad Debts claimed in Profit and Loss Account [Read Order]")
![Penalty u/s 271AAB shall not be levied if search u/s 153A not conducted in Premises of Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Penalty-shall-not-be-levied-not-conducted-in-Premises-of-Assessee-ITAT-TAXSCAN.jpg "Penalty u/s 271AAB shall not be levied if search u/s 153A not conducted in Premises of Assessee: ITAT [Read Order]")
![Failure to Produce Evidence as to Astronomical Agricultural Income: ITAT upholds Estimation of Income by AO as Other Source [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Evidence-Astronomical-Agricultural-Income-Agricultural-Income-Income-ITAT-upholds-Estimation-of-Income-ITAT-Estimation-of-Income-Other-Source-Taxscan.jpg "Failure to Produce Evidence as to Astronomical Agricultural Income: ITAT upholds Estimation of Income by AO as Other Source [Read Order]")
![Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Furnishing-of-Income-Tax-Returns-Income-Tax-Returns-Income-Tax-Bank-Statements-Deposits-ITAT-Taxscan.jpg "Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not Meet Requirements of S. 68: ITAT [Read Order]")
![ITAT Disallows 25% of Alleged Bogus Purchase on Account of Inflation of Purchase Price [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-Disallows-25-of-Alleged-Bogus-Purchase-Bogus-Purchase-Account-of-Inflation-of-Purchase-Price-Purchase-Price-ITAT-Taxscan.jpg "ITAT Disallows 25% of Alleged Bogus Purchase on Account of Inflation of Purchase Price [Read Order]")
Twin Prerequisites not followed for Invocation of Revisional Powers u/s 263 of IT Act: ITAT quashes Order
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no twin prerequisites for invocation of revisional powers under Section 263 of the Income Tax Act, 1961. M/s. Havells...
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 no contrary material was found. The Assessing...
Audit Report not Filed within Stipulated Time Limit as Books not Given to Qualified CA:ITAT Upholds Penalty u/s 271B [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) has upheld the penalty under Section 271B of the Income Tax Act 1961 because the audit report was not filed within the stipulated time limit 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]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that the income derived from sale of agricultural land is not capital asset under section 2(14)(iii) of Income Tax ...
![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]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that penalty under Section 271AAA of the Income Tax Act, 1961 shall not be attracted on the income surrendered by the assessee if the...
![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]")
