ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
Provision of S.56(2)(viia) of IT Act shall apply to Underlying Investments Received by Amalgamated Entity on Account of Merger: ITAT
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has recently held that the provision of Section 56(2)(viia) of the Income Tax Act, 1961...
![No Income Tax Penalty if Addition is Made on Estimated Basis on Alleged Bogus Purchase: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/No-Income-Tax-Penalty-if-Addition-is-Made-on-Estimated-Basis-on-Alleged-Bogus-Purchase-Income-Tax-Penalty-Income-Tax-Penalty-Addition-Bogus-Purchase-ITAT-Taxscan.jpg "No Income Tax Penalty if Addition is Made on Estimated Basis on Alleged Bogus Purchase: ITAT [Read Order]")
![Assessment Order Framed against Non-Existing Company Illegal and Void Ab Initio: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Order-Framed-against-Non-Existing-Company-Assessment-Order-Non-Existing-Company-ITAT-Void-Ab-Initio-Taxscan.jpg "Assessment Order Framed against Non-Existing Company Illegal and Void Ab Initio: ITAT [Read Order]")
![Section 263 cannot be invoked on mere Non-Reference of Cash Transaction by AO: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cash-Transaction-ITAT-Non-Reference-of-Cash-Transaction-by-AO-Non-Reference-of-Cash-Transaction-taxscan.jpg "Section 263 cannot be invoked on mere Non-Reference of Cash Transaction by AO: ITAT [Read Order]")
![Sales Reversal Entry is not Unexplained Expenditure: ITAT quashes Revision Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Sales-Reversal-Entry-is-not-Unexplained-Expenditure-Sales-Reversal-Entry-Unexplained-Expenditure-ITAT-quashes-Revision-Proceedings-ITAT-Revision-Proceedings-Taxscan.jpg "Sales Reversal Entry is not Unexplained Expenditure: ITAT quashes Revision Proceedings [Read Order]")
![Carbon Credit Receipt is Capital Receipt: ITAT deletes Income Tax Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Carbon-Credit-Receipt-is-Capital-Receipt-Carbon-Credit-Receipt-Capital-Receipt-ITAT-deletes-Income-Tax-Addition-ITAT-Income-Tax-Addition-Taxscan.jpg "Carbon Credit Receipt is Capital Receipt: ITAT deletes Income Tax Addition [Read Order]")
No Addition can be made u/s 69 of Income Tax Act on Money kept for Treatment of Grand Mother: ITAT [Read Order]
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made under Section 69 Income Tax Act, 1961 on money kept for treatment of grandmother. ...
![No Addition can be made u/s 69 of Income Tax Act on Money kept for Treatment of Grand Mother: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Income-Tax-Act-Money-kept-for-Treatment-of-Grand-Mother-Treatment-of-Grand-Mother-Treatment-ITAT-Taxscan.jpg "No Addition can be made u/s 69 of Income Tax Act on Money kept for Treatment of Grand Mother: ITAT [Read Order]")
No Penalty u/s 271B of Income Tax Act when there is Reasonable Cause for not getting Audited u/s 44AB: ITAT [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no penalty should be levied under Section 271B of the Income Tax Act 1961 when there is reasonable cause for not...
![No Penalty u/s 271B of Income Tax Act when there is Reasonable Cause for not getting Audited u/s 44AB: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Income-Tax-Act-Reasonable-Cause-for-not-getting-Audited-ITAT-Taxscan.jpg "No Penalty u/s 271B of Income Tax Act when there is Reasonable Cause for not getting Audited u/s 44AB: ITAT [Read Order]")
ITAT Deletes Penalty U/S 271(1) (c) On Assessee in Absence of Concealment or Inaccurate Particulars of Income [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) deleted the penalty under Section 271(1) (c) of the Income Tax Act on the assessee in the absence of concealment or inaccurate particulars...
![ITAT Deletes Penalty U/S 271(1) (c) On Assessee in Absence of Concealment or Inaccurate Particulars of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Deletes-Penalty-Assessee-Absence-of-Concealment-Inaccurate-Particulars-of-Income-Income-Taxscan.jpg "ITAT Deletes Penalty U/S 271(1) (c) On Assessee in Absence of Concealment or Inaccurate Particulars of Income [Read Order]")
Income Tax Deduction u/s 80IA of the Act available to Income from Independent Power Generation Undertaking Units for Generating Power: ITAT
The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that income tax deduction under Section 80IA of the Income Tax Act should be available to income from independent power...
Income Escaped for Assessment not Represented "in the form of an asset": ITAT quashes Addition u/s 153A Towards Bogus Purchase and Disallowance of Salary
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has quashed the addition under Section 153A of the Income Tax Act, 1961 towards bogus purchase and disallowance of salary as the income...
ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]
The Delhi bench (single member bench) of the Income Tax Appellate Tribunal (ITAT) recently deleted the long term capital gains addition on forfeited advance amount without transfer of capital asset. ...
![ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Long-Term-Capital-Gains-ITAT-Long-Term-Capital-Gains-Forfeited-Advance-Amount-Advance-Amount-Transfer-of-Capital-Asset-Capital-Asset-Taxscan.jpg "ITAT deletes Long Term Capital Gains Addition on Forfeited Advance Amount without Transfer of Capital Asset [Read Order]")