ITAT
Stay updated with the latest ITAT judgments, orders, and appellate rulings impacting income tax matters in India.
![No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Addition-Undisclosed-Contract-Receipt-Contract-Receipt-Business-of-Purchase-and-Sale-of-Fish-Purchase-and-Sale-of-Fish-ITAT-Deletes-the-Addition-ITAT-Taxscan.jpg "No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]")
No Addition can be made on Undisclosed Contract Receipt from the Business of Purchase and Sale of Fish: ITAT Deletes the Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has recently held that no addition can be made to an undisclosed contract receipt...
![ITAT Upholds Deletion of Additions Made on Account of Share Application/Capital Received as Unexplained Cash Credits u/s 68 Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/ITAT-Upholds-Deletion-of-Additions-ITAT-Share-Application-Capital-Share-Capital-Unexplained-Cash-Credits-Income-Tax-Act-ITAT-Upholds-Deletion-Additions-Made-on-Account-of-Share-Application-Taxscan.jpg "ITAT Upholds Deletion of Additions Made on Account of Share Application/Capital Received as Unexplained Cash Credits u/s 68 Income Tax Act [Read Order]")
![Failure of Assessee to Maintain Books of Account will not Attract a Penalty under Section 271B for Non-Furnishing of Audit Report: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Failure-of-Assessee-to-Maintain-Books-of-Account-Books-of-Account-Assessee-Penalty-Non-Furnishing-of-Audit-Report-Audit-Report-ITAT-Taxscan.jpg "Failure of Assessee to Maintain Books of Account will not Attract a Penalty under Section 271B for Non-Furnishing of Audit Report: ITAT [Read Order]")
![Registration of Trust u/s 12AA Once Done, Continues Unless Withdrawn by Specific Order: ITAT Sets Aside Denial of Sec 11 Benefit [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Registration-of-Trust-Trust-Withdrawn-by-Specific-Order-Specific-Order-ITAT-Income-Tax-Taxscan.jpg "Registration of Trust u/s 12AA Once Done, Continues Unless Withdrawn by Specific Order: ITAT Sets Aside Denial of Sec 11 Benefit [Read Order]")
Interest Income Derived from Business Advances, Fixed Deposits shall be eligible for Profit and Gains Deduction u/s 80IB of the Act: ITAT grants Relief to Adani Ports
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has recently held that interest income derived from business advances and fixed deposits is eligible for profit and gains ...
Subscription Fee Received by American Chemical Society from Indian Customers cannot be Treated as Royalty under Indo-US Treaty: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the subscription fee received by the American Chemical Society from customers from India cannot be treated as “royalty” under the...
![Subscription Fee Received by American Chemical Society from Indian Customers cannot be Treated as Royalty under Indo-US Treaty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Subscription-Fee-American-Chemical-Society-Indian-Customers-Customers-Royalty-Indo-US-Treaty-ITAT-Taxscan.jpg "Subscription Fee Received by American Chemical Society from Indian Customers cannot be Treated as Royalty under Indo-US Treaty: ITAT [Read Order]")
![Penalty Proceedings Initiated without Requisite Satisfaction: ITAT Quashes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Proceedings-Penalty-Penalty-Proceedings-Initiated-without-Requisite-Satisfaction-Requisite-Satisfaction-ITAT-Quashes-Penalty-ITAT-Taxscan.jpg "Penalty Proceedings Initiated without Requisite Satisfaction: ITAT Quashes Penalty [Read Order]")
![NFAC cannot Deny Deductions Claimed in Appeal for want of Revised Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/NFAC-Deductions-Claim-Appeal-Revised-Return-ITAT-Income-Tax-Tax-taxscan.jpg "NFAC cannot Deny Deductions Claimed in Appeal for want of Revised Return: ITAT [Read Order]")
Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the ex-gratia payment received by the employee on voluntary retirement cannot be taxed as “Profit in lieu of Salary” under...
![Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/assessmentEx-Gratia-Payment-Payment-Ex-Gratia-Payment-Received-on-Voluntary-Retirement-Voluntary-Retirement-Profit-in-Lieu-of-Salary-Profit-ITAT-ITAT-Deletes-Addition-Ex-Gratia-Payment-Received-Taxscan.jpg "Ex-Gratia Payment Received on Voluntary Retirement Not Taxable as “Profit in Lieu of Salary”: ITAT Deletes Addition [Read Order]")
Partners Entitled to Interest on Their Loan Accounts with Firm at Rates as Prescribed under Income Tax Act: ITAT upholds Deletion of Addition made u/s 68
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, while upholding the deletion of addition made under section 68, held that partners are entitled to...
Penalty u/s 271(1)(c) of Income Tax Act Not Leviable on Deletion of Quantum Addition by Tribunal: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the penalty under section 271(1)(c) of the Income Tax Act is not sustainable when the Tribunal has deleted the quantum addition. ...
![Penalty u/s 271(1)(c) of Income Tax Act Not Leviable on Deletion of Quantum Addition by Tribunal: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Penalty-Income-Tax-Act-Income-Tax-Deletion-of-Quantum-Addition-Quantum-Addition-Addition-Tribunal-ITAT-Taxscan.jpg "Penalty u/s 271(1)(c) of Income Tax Act Not Leviable on Deletion of Quantum Addition by Tribunal: ITAT [Read Order]")