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Judicial Member Kul...

ITAT Sets Aside Rs.1.25 Crore Penalty on UP State Bridge Corp, Orders Fresh Review Linked to Pending Quantum Appeal [Read Order]

Adwaid M S

The Lucknow Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a penalty of Rs.1.25 crore imposed on UP State Bridge Corporation Ltd....

AO adds Rs. 64.88 lakh Expenditure u/s 14A citing Business nature: ITAT deletes addition due to...

ITAT Members get reshuffled Places of Posting: Central Govt issues Transfer Order [Read Order]

Ad-Hoc Income Tax Addition on Guess Work: ITAT Remands Matter Despite Assessee’s Failure to Furnish...

Deliberate Failure to Produce Books of Account: ITAT Upholds ₹1.05 Crore Income Tax Addition in...

Rectification Not Available for Debatable Income Tax Matters: ITAT [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) of Delhi held that rectification is not ermissible for debatable issues related to income tax matters. The case in question involved the...

CIT(A) Pronounces Ex-Parte decision on Unexplained Cash Credits ignoring Adjournment Request filed through Email: ITAT remands Matter [Read Order]

The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter concerning unexplained cash credits back to the Commissioner of Income Tax (Appeals). This decision was taken...

ITAT deletes Penalty u/s 270 A over Income Discrepancy Caused by Auditors Incorrect Recording of WDV in Tax Audit Report [Read Order]

In a recent judgement, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 270A of the Income Tax Act, 1961, citing that the income discrepancy was due to...

ITAT directs AO to delete addition as lower authorities fail to rebut assessee's explanation on Term Deposit Maturity and Redemption [Read Order]

The two member bench of the Income Tax Appellate Tribunal ( ITAT ) in Delhi has directed the Assessing Officer to remove the addition, as the lower authorities failed to counter the assessee's...

AO cannot issue Reassessment Notice: ITAT quashes Order u/s 147 of Income Tax Act [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal( ITAT ) quashed a reassessment order under Section 147 of the Income Tax Act,1961 ruling that the Assessing Officer ( AO ) cannot issue a reassessment...

Re-Opening of Assessment by AO u/s 147 of Income Tax Act is Illegal and unjustified due to Unprocessed Original Return: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) quashed the assessment, holding that the re-opening of the assessment under Section 147 of Income Tax Act,1961 was illegal.The Tribunal's...

No Physical Notice issued before Ex-Parte Proceedings on Unexplained Investment: ITAT remands Matter to CIT(A) for Fresh Adjudication [Read Order]

The New Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has remanded the case to the Commissioner of Income Tax (Appeals) for a fresh adjudication. This decision was made because CIT(A) did...