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Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.

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]

Aparna. M

The Delhi bench of the Income Tax Appellate Tribunal (ITAT)has recently held that interest income derived from the business of manufacturing and...

Supreme Court directs ITAT to Ensure E-filing of Appeals [Read Judgement]

ITAT upholds Addition made u/s 69 on Unaccounted, Undisclosed Income on the basis of the Seized...

Bogus Purchases Bills without actual delivery of goods: ITAT directs AO to charge 6.5% Gross Profit...

Income Generated from Production and Sale of White Button Mushrooms is Agricultural Activity, shall...

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...

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...

Penalty under Section 270A cannot be Levied on Estimated Disallowance: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, held penalty under Section 270A cannot be levied on estimated disallowance. The aforesaid...

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...

Force of Attraction Rule will not Apply, Unless There is Even a Remote Link Between Activities of Other Projects with PE in Question: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that the force of attraction rule will not apply, unless there is even a remote link between...

ITAT quashes Revisional Order Against Lakme [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has, recently in an appeal filed before it, quashed the revisional order against Lakme. The aforesaid observation was made by the Mumbai...

Sale of Shop Below Market Price amounts to Fraud with Intention to Tax Evasion: ITAT upholds Disallowance of Loss [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the sale of shops below market price amounts to fraud to tax evasion and upheld the disallowances. Arihant Moti Developers,...

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