![Number of Associate Members of Cooperative Society continued to be more than 15% of Total membership of Society is violative of Income Tax Act: ITAT directs to verify matter [Read Order]](https://images.taxscan.in/h-upload/2025/09/09/500x300_2084991-associate-members-cooperative-society-income-tax-act-taxscan.webp "Number of Associate Members of Cooperative Society continued to be more than 15% of Total membership of Society is violative of Income Tax Act: ITAT directs to verify matter [Read Order]")
Number of Associate Members of Cooperative Society continued to be more than 15% of Total membership of Society is violative of Income Tax Act: ITAT directs to verify matter [Read Order]
The Income Tax Appellate Tribunal (ITAT) Panaji Bench has directed to verify matters on the issue of number of associate members of cooperative...
![Rejection of Income Tax Appeal citing Time Barred by One Day: ITAT sets aside NFAC’s Dismissal on Hyper-Technical Ground [Read Order]](https://images.taxscan.in/h-upload/2025/07/08/250x150_2061142-rejection-of-income-tax-appeal-income-tax-appeal-income-tax-income-tax-appeal-citing-time-barred-taxscan.webp "Rejection of Income Tax Appeal citing Time Barred by One Day: ITAT sets aside NFAC’s Dismissal on Hyper-Technical Ground [Read Order]")
![ITAT gives Second Chance to Fruit Trader in Rs.28 Lakh Demonetization Case Over Procedural Lapses [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/Demonetization-1.jpg "ITAT gives Second Chance to Fruit Trader in Rs.28 Lakh Demonetization Case Over Procedural Lapses [Read Order]")
![ITAT quashes Final Assessment order as it was passed beyond the period of Limitation [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/TAT-ITAT-Mumbai-ITAT-quashes-Final-Assessment-order-Assessment-order-Final-Assessment-order-taxscan.jpg "ITAT quashes Final Assessment order as it was passed beyond the period of Limitation [Read Order]")
![Denial of video conferencing without Justification: ITAT sets aside NFAC Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/NFAC-ITAT-Sets-Aside-NFAC-Order-taxscan.jpg "Denial of video conferencing without Justification: ITAT sets aside NFAC Order [Read Order]")
Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]
In a recent judgment by the ITAT Panaji, the Tribunal restricted the profit estimation to 5% of the purchase transactions for a petroleum firm facing stock record discrepancies. A petroleum firm,...
![Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/01/Stock-Record-Stock-Record-Discrepancies-ITAT-ITAT-restricts-Profit-Estimation-Purchase-Transactions-Petroleum-Petroleum-Firm-taxscan.jpg "Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]")
AO made S.68 addition based on the Third Party Statement, Discrediting Evidence: ITAT deletes addition [Read Order]
In a recent ruling, the Mumbai bench of the Income Tax Appellatte Tribunal ( ITAT ) allowed the appeal filed by the assessee and deleted the addition made by AO under Section 68 of the Income Tax Act...
![AO made S.68 addition based on the Third Party Statement, Discrediting Evidence: ITAT deletes addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/AO-Third-Party-Statement-Discrediting-Evidence-ITAT-TAXSCAN.jpg "AO made S.68 addition based on the Third Party Statement, Discrediting Evidence: ITAT deletes addition [Read Order]")
Relief to JN Tata Endowment: ITAT dismisses Revenue Appeal against Income Tax Act Section 11 Exemption Availment [Read Order]
In a significant ruling, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal filed by the Revenue against JN Tata Endowment for the Higher Education of Indians,...
![Relief to JN Tata Endowment: ITAT dismisses Revenue Appeal against Income Tax Act Section 11 Exemption Availment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Tata-Endowement-site-img.jpg "Relief to JN Tata Endowment: ITAT dismisses Revenue Appeal against Income Tax Act Section 11 Exemption Availment [Read Order]")
Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]
In recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted addition under Section 68 of Income Tax Act as genuineness of purchase and sale of shares is proven by...
![Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Purchase-and-Sale-of-Shares-Shares-taxscan.jpg "Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]")
Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) confirmed the addition of unutilized Central Value added Tax (CENVAT) credit, mandating its inclusion in the closing stock value as per...
![Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/CENVAT-credit-Unutilized-CENVAT-credit-Closing-Stock-Value-Stock-Value-taxscan.jpg "Unutilized CENVAT credit requires to be included in Closing Stock Value as u/s 145 of Income Tax Act: ITAT confirms Addition [Read Order]")
Failure to establish Legal Expenses incurred from Trading Loss as Civil Expenditure: ITAT directs Readjudication [Read Order]
The Mumbai bench Income Tax Appellate Tribunal ( ITAT ) directed readjudication on account of failure to establish legal expenses incurred from the trading loss as civil expenditure. The Two...
![Failure to establish Legal Expenses incurred from Trading Loss as Civil Expenditure: ITAT directs Readjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-Tax-Readjudication-Civil-Expenditure-taxscan.jpg "Failure to establish Legal Expenses incurred from Trading Loss as Civil Expenditure: ITAT directs Readjudication [Read Order]")