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Judicial Member Pawan...

ITAT Confirms ₹4.10 Cr Addition U/s 69, Upholds Courts’ Authority to Dismiss Defaulted Cases [Read Order]

Nandan GK

In a recent judgment, the Income Tax Appellate Tribunal (ITAT) of Surat upheld the addition made by the Assessing Officer (AO) under section 69 of...

Cash Deposits during Demonetization: ITAT directs Normal 30 % Tax Rate citing S. 115BBE not...

ITAT Admits Additional Evidence, Remands Rs. 17 Lakh Unsecured Loan Case to AO for Fresh Assessment...

Unexplained Cash Deposits: ITAT Reduces ₹72 Lakh Addition to ₹2 Lakh on Verifying Home Loan Credits...

Non-Service of Appeal Order of CIT(A): ITAT Restores Unexplained Money Matter for fresh adjudication...

Taxpayer Owns Only 30%: ITAT Orders Reassessment of Capital Gains due to Incorrect Valuation [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) remanded the case for fresh consideration, directing the Assessing Officer ( AO ) to correctly compute the capital gains liability of the...

Non-Service of Income Tax Assessment Order: ITAT Condones Delay in Filing Appeal [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the order of the Commissioner of Income Tax (Appeals) [CIT(A)], condoning the delay in filing an appeal by the assessee due...

AO Must Allow Interest Deduction for Cooperative Societies If Expenses Are Proven to Be Linked to Activities u/s 80P(2): ITAT [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer (AO) must allow interest expenditure as a deduction for cooperative societies if the expenses were directly...

Reassessment u/s 147 Requires Fresh Tangible Material, Mere Reliance on Investigation Report Insufficient: ITAT [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) ruled that reassessment under Section 147 of the Income Tax Act, 1961, must be based on fresh tangible material and that reliance solely on...

77-Year-Old Farmer Misguided by Tax Consultant: ITAT Condones 162-Day Delay, Orders Fresh Assessment

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) condoned a 162-day delay citing 77-year-old farmer was misguided by the tax consultant and directed a fresh assessment. Ishvarbhai...

Penalty u/s 271B Based on Bank Transactions: ITAT Remands Matter to AO for Fresh Consideration [Read Order]

The Surat Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO) for fresh consideration in a matter involving a penalty under Section 271B of Income Tax...

AO Fails to Properly Divide Stamp Duty Valuation Difference and Unexplained Investment: ITAT Upholds PCIT’s Invocation [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) upheld the Principal Commissioner of Income Tax (PCIT)’s invocation of Section 263 of the Income Tax Act, 1961, after finding that the...

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