ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![No Addition u/s 40A (3) without Doubt of Genuineness of Payment: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Genuineness-of-Payment-Addition-Doubt-of-Genuineness-of-Payment-ITAT-Taxscan.jpg "No Addition u/s 40A (3) without Doubt of Genuineness of Payment: ITAT [Read Order]")
No Addition u/s 40A (3) without Doubt of Genuineness of Payment: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, has recently, in an appeal filed before it, held no addition under section 40A (3) is...
![Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Sale-Proceeds-of-Land-Land-Share-Capital-AOP-taxable-ITAT-Suo-Motu-Offering-for-Tax-Suo-Motu-Tax-taxscan-.jpg "Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]")
![No Addition can be made on Account of Unexplained Closing Cash filed u/s 44AD of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Account-Unexplained-Closing-Cash-Closing-Cash-Account-of-Unexplained-Closing-Cash-Income-Tax-Act-Income-Tax-Tax-ITAT-Taxscan.jpg "No Addition can be made on Account of Unexplained Closing Cash filed u/s 44AD of Income Tax Act: ITAT [Read Order]")
![Interest Income Derived from the Business of Manufacturing and Export of Rice is Eligible for Deduction u/s 10B of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Interest-Income-Derived-from-the-Business-of-Manufacturing-and-Export-of-Rice-Interest-Income-Interest-Income-Derived-from-the-Business-Manufacturing-and-Export-of-Rice-Income-Tax-Act-ITAT-Taxscan.jpg "Interest Income Derived from the Business of Manufacturing and Export of Rice is Eligible for Deduction u/s 10B of Income Tax Act: ITAT [Read Order]")
![Supreme Court directs ITAT to Ensure E-filing of Appeals [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/05/Supreme-Court-directs-ITAT-to-Ensure-E-filing-of-Appeals-TAXSCAN.jpg "Supreme Court directs ITAT to Ensure E-filing of Appeals [Read Judgement]")
ITAT upholds Addition made u/s 69Â on Unaccounted, Undisclosed Income on the basis of the Seized Loose Papers [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) recently upheld the addition made under Section 69 of the Income Tax Act 1961 on unaccounted, undisclosed income on the basis of the seized...
![ITAT upholds Addition made u/s 69Â on Unaccounted, Undisclosed Income on the basis of the Seized Loose Papers [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Unaccounted-Undisclosed-Income-Seized-Loose-Papers-Loose-Papers-Undisclosed-Income-on-the-basis-of-the-Seized-Loose-Papers-ITAT-upholds-Addition-taxscan.jpg "ITAT upholds Addition made u/s 69Â on Unaccounted, Undisclosed Income on the basis of the Seized Loose Papers [Read Order]")
Bogus Purchases Bills without actual delivery of goods: ITAT directs AO to charge 6.5% Gross Profit Rate [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to charge 6.5% Gross Profit Rate on the bogus purchase bills. The assessee is an individual running a...
![Bogus Purchases Bills without actual delivery of goods: ITAT directs AO to charge 6.5% Gross Profit Rate [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Bogus-Purchases-Bills-actual-delivery-of-goods-ITAT-AO-charge-6.5-Gross-Profit-Rate-Taxscan.jpg "Bogus Purchases Bills without actual delivery of goods: ITAT directs AO to charge 6.5% Gross Profit Rate [Read Order]")
Income Generated from Production and Sale of White Button Mushrooms is Agricultural Activity, shall Exempt from Tax: ITAT [Read Order]
The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that income generated from production and sale of white button mushrooms is agriculture activity hence shall be exempt from...
![Income Generated from Production and Sale of White Button Mushrooms is Agricultural Activity, shall Exempt from Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Income-Generated-from-Production-Income-Generated-Production-Sale-of-White-Button-Mushrooms-White-Button-Mushrooms-Agricultural-Activity-Tax-ITAT-Taxscan.jpg "Income Generated from Production and Sale of White Button Mushrooms is Agricultural Activity, shall Exempt from Tax: ITAT [Read Order]")
AO Bound to Follow Procedure under Section 205 of IT Act when Payer has Deducted Tax at Source: ITAT quashes Demand Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has recently, in an appeal filed before it, while quashing a demand order, held that the AO is bound to follow the procedure under Section...
![AO Bound to Follow Procedure under Section 205 of IT Act when Payer has Deducted Tax at Source: ITAT quashes Demand Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Procedure-AO-IT-Act-Payer-Deducted-Tax-at-Source-ITAT-quashes-Demand-Order-ITAT-Taxscan.jpg "AO Bound to Follow Procedure under Section 205 of IT Act when Payer has Deducted Tax at Source: ITAT quashes Demand Order [Read Order]")
Foreign Exchange Loss incurred for Converting Loan to Foreign Currency allowable as Business Loss: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, held that the loss incurred in foreign exchange for converting loan to foreign currency is allowable as business loss. The assessee’s unit...
![Foreign Exchange Loss incurred for Converting Loan to Foreign Currency allowable as Business Loss: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Foreign-Exchange-Loss-Foreign-Exchange-Foreign-Exchange-Loss-incurred-for-Converting-Loan-Converting-Loan-Loan-Foreign-Currency-allowable-as-Business-Loss-Foreign-Currency-Business-Loss-ITAT-Taxscan.jpg "Foreign Exchange Loss incurred for Converting Loan to Foreign Currency allowable as Business Loss: ITAT [Read Order]")
![Penalty under Section 270A cannot be Levied on Estimated Disallowance: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Estimated-Disallowance-ITAT-Disallowance-Taxscan.jpg "Penalty under Section 270A cannot be Levied on Estimated Disallowance: ITAT [Read Order]")
Income Tax Department has no power to recover TDS from vender if vendee Deducts Tax at Source for Purchase of Property: ITAT
The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has recently held that income tax department has no power to recover Tax Deduction at Source (TDS) from vendor if vendee deducts tax...
