ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![Relief to Bajaj Finance: Interest Income on NPAs Cannot be Taxed on Accrual Basis, rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Bajaj-Finance-Interest-Income-on-NPAs-Interest-Income-NPAs-Taxed-ITAT-Income-Taxscan.jpg "Relief to Bajaj Finance: Interest Income on NPAs Cannot be Taxed on Accrual Basis, rules ITAT [Read Order]")
Relief to Bajaj Finance: Interest Income on NPAs Cannot be Taxed on Accrual Basis, rules ITAT [Read Order]
The Pune Bench of Income Tax Appellate Tribunal (ITAT) has granted relief to Bajaj Finance holding that the interest income on non-performing assets...
![Assessment Completed u/s 143(3) after Condonation of Delay due to Covid: ITAT deletes Penalty u/s 271(1)(b) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Assessment-Condonation-of-Delay-Condonation-of-Delay-due-to-Covid-ITAT-deletes-Penalty-ITAT-Penalty-Taxscan.jpg "Assessment Completed u/s 143(3) after Condonation of Delay due to Covid: ITAT deletes Penalty u/s 271(1)(b) [Read Order]")
![Rectification Application for Exempted Allowance Claim: ITAT upholds Claim Rejection u/s 143(1)(a) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Rectification-Application-for-Exempted-Allowance-Claim-Exempted-Allowance-Claim-ITAT-upholds-Claim-Rejection-ITAT-Claim-Rejection-Income-Tax-Act-Income-Tax-Taxscan.jpg "Rectification Application for Exempted Allowance Claim: ITAT upholds Claim Rejection u/s 143(1)(a) of Income Tax Act [Read Order]")
![Revision u/s 263 can be Invoked When the Assessment was Completed without Proper Enquiry: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Revision-Assessment-Completed-without-Proper-Enquiry-Proper-Enquiry-Enquiry-ITAT-Taxscan.jpg "Revision u/s 263 can be Invoked When the Assessment was Completed without Proper Enquiry: ITAT [Read Order]")
![Matters Pending Before CIT(A) for Adjudication cannot be Disputed in Proceedings u/s 263: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Matters-Pending-Before-CITA-for-Adjudication-cannot-be-Disputed-in-Proceedings-CITA-Adjudication-Disputed-in-Proceedings-ITAT-Taxscan.jpg "Matters Pending Before CIT(A) for Adjudication cannot be Disputed in Proceedings u/s 263: ITAT [Read Order]")
![ITAT deletes Addition due to Time-Barred Issuance of Notice u/s 143(2) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-deletes-Addition-due-to-Time-Barred-Issuance-of-Notice-ITAT-Time-Barred-Issuance-of-Notice-Issuance-of-Notice-Notice-ITAT-deletes-Addition-Taxscan.jpg "ITAT deletes Addition due to Time-Barred Issuance of Notice u/s 143(2) [Read Order]")
Ownership of Equipment in Bandwidth Selling Business: ITAT upholds Reduction in Profit eligible for Deduction in Revenue Sharing [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has upheld the reduction in profit eligible for deduction in revenue sharing as the assessee had the ownership of equipment in bandwidth...
![Ownership of Equipment in Bandwidth Selling Business: ITAT upholds Reduction in Profit eligible for Deduction in Revenue Sharing [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Ownership-of-Equipment-in-Bandwidth-Selling-Business-Ownership-of-Equipment-Equipment-Selling-Business-ITAT-upholds-Reduction-ITAT-Deduction-in-Revenue-Sharing-Deduction-Revenue-Sharing-taxscan-.jpg "Ownership of Equipment in Bandwidth Selling Business: ITAT upholds Reduction in Profit eligible for Deduction in Revenue Sharing [Read Order]")
No Cogent and Satisfactory Explanation u/s 5 of Limitation Act: ITAT Refuses to Condone Delay of 781 Days [Read Order]
The Amritsar Bench of Income Tax Appellate Tribunal (ITAT) has refused to condone a delay of 781 days holding that cogent and satisfactory explanation were not furnished by the assessee as per...
![No Cogent and Satisfactory Explanation u/s 5 of Limitation Act: ITAT Refuses to Condone Delay of 781 Days [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cogent-and-Satisfactory-Explanation-Limitation-Act-ITAT-ITAT-Refuses-to-Condone-Delay-of-781-Days-Condone-Delay-taxscan.jpg "No Cogent and Satisfactory Explanation u/s 5 of Limitation Act: ITAT Refuses to Condone Delay of 781 Days [Read Order]")
AO cannot change DCF Method for Determining FMV of Unquoted Shares under Rule 11UA of IT Rules: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the DCF method for determining FMV of unquoted shares could not be changed by the assessing officer under Rule...
![AO cannot change DCF Method for Determining FMV of Unquoted Shares under Rule 11UA of IT Rules: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/AO-cannot-change-DCF-Method-for-Determining-FMV-of-Unquoted-Shares-AO-cannot-change-DCF-Method-AO-DCF-Method-Shares-IT-Rules-ITAT-Taxscan.jpg "AO cannot change DCF Method for Determining FMV of Unquoted Shares under Rule 11UA of IT Rules: ITAT [Read Order]")
Educational Institution is Eligible for Exemption u/s 10(23C) (iiiab) of Income Tax Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held that educational institution is eligible for exemption under Section 10(23C)(iiiab) of the...
![Educational Institution is Eligible for Exemption u/s 10(23C) (iiiab) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Educational-Institution-is-Eligible-for-Exemption-Educational-Institution-Eligible-for-Exemption-Exemption-Income-Tax-Act-ITAT-Taxscan.jpg "Educational Institution is Eligible for Exemption u/s 10(23C) (iiiab) of Income Tax Act: ITAT [Read Order]")
Cost of New Property has to be Assessed as per Collaboration Agreement for Exemption u/s 54: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Delhi bench has held that the cost of new property has to be assessed as per collaboration agreement for exemption under section 54 of the Income Tax Act,...
![Cost of New Property has to be Assessed as per Collaboration Agreement for Exemption u/s 54: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Cost-of-New-Property-Collaboration-Agreement-New-Property-ITAT-taxscan.jpg "Cost of New Property has to be Assessed as per Collaboration Agreement for Exemption u/s 54: ITAT [Read Order]")
Additional Income Disclosed Originated Out of Seized Material:Â ITAT Upholds Penalty Levied u/s 271(1)(c) [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, on finding the additional income disclosed and returned in ITR filed under Section 153A, to be...
![Additional Income Disclosed Originated Out of Seized Material:Â ITAT Upholds Penalty Levied u/s 271(1)(c) [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Additional-Income-Additional-Income-Disclosed-Originated-Out-of-Seized-Material-Seized-Material-ITAT-Penalty-ITAT-Upholds-Penalty-Taxscan.jpg "Additional Income Disclosed Originated Out of Seized Material:Â ITAT Upholds Penalty Levied u/s 271(1)(c) [Read Order]")