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ITAT Allows Genpact to Exclude Telecom and Training Receipts from Total Turnover u/s 10AA as They Are Already Excluded from Export Turnover [Read Order]

Sneha Sukumaran Mullakkal

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) allowed Genpact to exclude telecommunication expenses and recovery receipts for migration...

Relief for Genpact: ITAT Allows S.10AA Deduction on Interest from FDs and Staff Loans [Read Order]

CIT(A)’s Deletion of ₹2.32 Cr Addition u/s 68 Based on Evidence Admitted in Violation of Rule 46A:...

Paper books Proving Genuineness of Unsecured Loan and Movt of Funds: ITAT grants one Last...

AO Cannot Travel Beyond Limited Scrutiny Without Pr. CIT’s Consent: ITAT reiterates CBDT...

No Proof from Assessee, No Comparables from Income Tax Dept: ITAT cuts Ad Hoc Disallowance to 4% from 10%, Says Not to be treated as Precedent [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has scaled down an ad hoc disallowance made by the Assessing Officer ( AO ) on various business expenses, citing lack of proper...

Assessment of Bread Manufacturer's Capital Withdrawals and Receivables Not Erroneous: ITAT Quashes PCIT's Revision Order [Read Order]

Umesh Garg (assessee), the proprietor of M/s A.R. Foods, engaged in manufacturing breads and rusks, faced scrutiny for Assessment Year (AY) 2011-12. The assessee filed his Income Tax Return (ITR)...

ITAT Quashes Revision Order: No Section 40A(3) Disallowance When Income Estimated via Gross Profit Rate [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has set aside a revision order issued under Section 263 of the Income Tax Act against the appellant, ruling that no separate disallowance under...

ITAT Delhi Drops Tax Appeal as LiuGong India Opts for Relief under Vivad Se Vishwas Scheme [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Delhi Bench dismissed an appeal after the appellant opted for the Direct Tax Vivad se Vishwas Scheme, 2024. LiuGong India Private...

Amount transferred from Current Account to Deposit Account to maintaining shortfall of Accounts cannot be consider Income of Assessee: ITAT deletes Addition [Read Order]

The Chennai bench of Income Tax Appellate Tribunal ( ITAT ) after deleting the addition made by the assessing officer held that the amount transferred from the current account to maintain the...

Failure to prove genuinity of Income from Agriculture Activities: ITAT upholds Addition [Read Order]

The Chennai bench of Income Tax Appellate Tribunal ( ITAT ) recently upheld the addition made by the assessing officer ue to failing to provide the genuine income from the agriculture activities. ...

Delay of 726 Days not properly explained: ITAT dismisses Appeal [Read Order]

The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) dismissed appeal citing a lack of proper explanation for the 726-day delay. The appeal is time barred by 726 days. The order of the...